SEC Reform and Restructuring Act

This bill aims to reform the Securities and Exchange Commission by requiring the agency to analyze the costs and benefits of new regulations before issuing them and to conduct regular reviews of their impact. It mandates that the SEC Chairman testify to Congress every six months on the Commission's activities and requires an independent audit of the agency's cybersecurity and information technology systems. Additionally, the legislation transfers the Public Company Accounting Oversight Board to the SEC, establishes a minimum 60-day public comment period for new rules, and clarifies how penalties are calculated for multiple violations. The bill also directs the SEC to streamline its internal organization and consolidate regional offices to improve efficiency.