The SEC Reform and Restructuring Act outlines the structure and intentions of the legislation through a table of contents that includes key topics like regulatory accountability, transparency, cybersecurity, and the streamlining of accounting oversight. It also details mandatory reviews of government regulations, describes the transfer of oversight to the SEC, and establishes provisions for public comment periods and studies on major rules.

The section amends the Securities Exchange Act of 1934 to require the Securities and Exchange Commission (SEC) to carefully consider the costs and benefits before proposing or finalizing any regulations. It outlines steps the SEC must take, such as identifying who will be affected, consulting with its Chief Economist, exploring alternative actions, ensuring accessibility and clarity, and assessing both intended and unintended impacts over time.

The section suggests that Congress believes the Public Company Accounting Oversight Board should adhere to the rules outlined in section 23(e) of the Securities Exchange Act of 1934.

The section states that any rule made by the Municipal Securities Rulemaking Board or a national securities association will not become effective unless the Securities and Exchange Commission verifies that the rule adheres to certain regulatory requirements.

The Securities Exchange Act of 1934 has been updated to require the Chairman of the Securities and Exchange Commission to testify before Congress at least twice a year about the Commission's activities. Additionally, all Commissioners must join the Chairman for these testimonies at least once a year.

The section requires the Comptroller General of the United States to conduct an independent audit of the Securities and Exchange Commission's information technology infrastructure and how it handles data. This audit will compare IT spending by the Commission to other federal financial regulators, assess the quality of IT contracting, evaluate data and cybersecurity systems, and review any recent security incidents. A report will be submitted detailing the findings and making recommendations for improvements.

The section requires the Securities and Exchange Commission to review each final rule it issues every 5 years to see if updates or changes are needed to help with capital formation, ensure fair markets, and protect investors. Additionally, the Commission must report to Congress about the review process and its outcomes.

The section requires amendments to several financial regulations, including the Securities Act and the Investment Advisers Act, to ensure they consider the impact of new rules both on their own and together with other existing or proposed rules.

The section outlines changes to the Sarbanes-Oxley Act of 2002, replacing references to the "Public Company Accounting Oversight Board" with the "Office of Public Accounting Oversight" and terminates the former board two years after the enactment of this Act. Additionally, it repeals certain sections of the Sarbanes-Oxley Act and specifies that any references to the old board in U.S. legal documents will thereafter refer to the new office under the Securities and Exchange Commission.

The proposed changes to the Sarbanes-Oxley Act of 2002 aim to establish an Office of Public Accounting Oversight within the Office of the Chief Accountant. This new office will be responsible for overseeing audits of companies under securities laws to ensure accurate and independent audit reports, and it will take on roles like inspecting accounting firms and handling investigations previously managed by the Public Company Accounting Oversight Board.

The section outlines changes to the Sarbanes-Oxley Act, including replacing references to "the Board" with "the Office" in the section heading and modifying specific parts of the law that previously mentioned "the Board" or certain sections for clarity and consistency.

The amendments to Section 103 of the Sarbanes-Oxley Act of 2002 focus on auditing and quality control by making changes such as updating the section heading, removing certain specific terms, and renaming the "Board" to "Office" in one of the paragraphs. Additionally, a reference within the section is updated from “101(h)” to “101(g)”.

The section outlines amendments to the Sarbanes-Oxley Act concerning foreign public accounting firms. It changes references from "Board" to "Office" in the law and removes certain permissions previously given to the Board.

This section outlines amendments to the funding procedures of the Sarbanes-Oxley Act, specifying how annual budgets for both the standard setting body and the Office will be established and funded, introducing flexibility by replacing certain mandatory terms with optional ones, and removing some outdated provisions.

The text amends the Sarbanes-Oxley Act of 2002 by changing the numbers of certain paragraphs and adding a new definition for "Office," which refers to the Office of Public Accounting Oversight within the Commission's Office of the Chief Accountant.

The section introduces changes to the Sarbanes-Oxley Act of 2002 by removing certain phrases and altering references to which authorities are responsible for making rules, shifting some duties from the Board to the Commission. Additionally, it updates the Consumer Credit Protection Act and modifies clerical elements in the table of contents.

This section states that the law, or any changes it makes, won't interfere with ongoing cooperative agreements between the Public Company Accounting Oversight Board and foreign auditor oversight authorities, as defined in a previous law, as long as they were effective two years after this law was enacted.

The Securities and Exchange Commission (SEC) has the authority to create rules needed to implement the provisions of this section.

The changes introduced by this part of the bill will come into effect two years after the bill becomes law.

The section adds a requirement for the Comptroller General of the United States to conduct a study every three years on major rules issued by the Securities Exchange Commission, including their costs and benefits, and their effectiveness in achieving certain goals like facilitating capital formation and protecting investors. If there are more than ten major rules to review, only the ten most significant will be studied, and a report on the findings must be submitted to Congress.

The section of the act requires the Securities and Exchange Commission (SEC) to have a minimum public comment period for new rule proposals. Normally, this period must be at least 60 days, but it can be 30 days if the rule is addressing an urgent investor threat. Federal holidays are not counted in these periods, and the timing starts on the day the proposal is published in the Federal Register.