H.R. 9434House119th Congress (2025-2027)In Committee

REG Act of 2026

Sponsored by Young KimRep. Young Kim (R-CA)
Introduced June 24, 2026

AI-Generated Summary

Updated June 27, 2026 at 12:51 PM UTC

The REG Act of 2026 would change several federal securities statutes so that when the SEC creates new rules, it must look at how those rules work together with other existing or proposed rules. The change applies to rulemaking under the Securities Act of 1933, the Securities Exchange Act of 1934, the Investment Company Act of 1940, and the Investment Advisers Act of 1940, affecting any entities regulated by those laws.

Key Provisions

  • Adds language to the Securities Act of 1933 requiring each new rule to be evaluated both on its own and in combination with other related final or proposed rules.
  • Amends the Securities Exchange Act of 1934 to require the same cumulative‑effects review for new regulations.
  • Inserts the cumulative‑effects requirement into the Investment Company Act of 1940 for any new rules.
  • Adds the same consideration language to the Investment Advisers Act of 1940 for rulemaking.

Legislative Activity

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HouseIntro Referral Latest Action

Referred to the House Committee on Financial Services.

June 24, 2026

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HouseIntro Referral

Introduced in House

June 24, 2026

HouseIntro Referral

Referred to the House Committee on Financial Services.

June 24, 2026

Bill Text

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Introduced in HouseIssued June 24, 2026

I

119th CONGRESS

2d Session

H. R. 9434

IN THE HOUSE OF REPRESENTATIVES

June 24, 2026

Mrs. Kim introduced the following bill; which was referred to the Committee on Financial Services

A BILL

To amend the Federal securities laws to require rulemakings to consider the cumulative effects of the rule with certain other final and proposed rules.

1.

Short title

This Act may be cited as the Reviewing the Expansion of Government Act of 2026 or the REG Act of 2026.

2.

Rulemaking considerations

(a)

Rules under the Securities Act of 1933

Section 2(b) of the Securities Act of 1933 (15 U.S.C. 77b(b)) is amended by inserting , when considered individually or cumulatively with other related rules or regulations or other related and recent proposed rules or regulations, before will promote.

(b)

Rules under the Securities Exchange Act of 1934

Section 23(a)(2) of the Securities Exchange Act of 1934 (15 U.S.C. 78w(a)(2)) is amended by inserting , when considered individually or cumulatively with other related rules or regulations or other related and recent proposed rules or regulations, after which would.

(c)

Rules under the Investment Company Act of 1940

Section 2(c) of the Investment Company Act of 1940 (15 U.S.C. 80a–2(c)) is amended by inserting , when considered individually or cumulatively with other related rules or regulations or other related and recent proposed rules or regulations, before will promote.

(d)

Rules under the Investment Advisers Act of 1940

Section 202(c) of the Investment Advisers Act of 1940 (15 U.S.C. 80b–2(c)) is amended by inserting , when considered individually or cumulatively with other related rules or regulations or other related and recent proposed rules or regulations, before will promote.