SEC Modernization Act

HR 3318, the SEC Modernization Act, reorganizes the internal structure of the Securities and Exchange Commission (SEC) without changing its regulatory authority or affecting businesses or investors directly. It moves several offices (like the Office of the Secretary, Ethics Counsel, and International Affairs) under the General Counsel, transfers the Chief Accountant and Credit Ratings offices into Corporate Finance, and merges the Office of Legislative Affairs into Public Affairs. The bill also allows the SEC to consolidate regional offices if deemed appropriate. This is a procedural change focused solely on the SEC's internal management, not on new securities rules or policy impacts.