Conformed to Federal Register version

SECURITIES AND EXCHANGE COMMISSION

17 CFR Ch. II

[Release Nos. 33-11178; 34-97286; IA-6281; IC-34884; File No. S7-09-23]

Regulatory Flexibility Agenda

AGENCY: Securities and Exchange Commission.

ACTION: Semiannual regulatory agenda.

SUMMARY: The Securities and Exchange Commission is publishing the Chair’s agenda of 

rulemaking actions pursuant to the Regulatory Flexibility Act (RFA) (Pub. L. No. 96-354, 94 

Stat. 1164) (Sept. 19, 1980). The items listed in the Regulatory Flexibility Agenda for Spring

2023 reflect only the priorities of the Chair of the U.S. Securities and Exchange Commission, 

and do not necessarily reflect the views and priorities of any individual Commissioner.

Information in the agenda was accurate on April 10, 2023, the date on which the 

Commission's staff completed compilation of the data. To the extent possible, rulemaking 

actions by the Commission since that date have been reflected in the agenda. The Commission 

invites questions and public comment on the agenda and on the individual agenda entries.

The Commission is now printing in the Federal Register, along with our preamble, only 

those agenda entries for which we have indicated that preparation of an RFA analysis is required.

The Commission’s complete RFA agenda will be available online at www.reginfo.gov.

DATES: Comments should be received on or before August 28, 2023.

ADDRESSES: Comments may be submitted by any of the following methods:

Electronic comments:

• Use the Commission’s internet comment form (https://www.sec.gov/rules/other.shtml); 

or
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• Send an email to rule-comments@sec.gov. Please include File Number S7-09-23 on the 

subject line.

Paper comments:

• Send paper comments to Vanessa A. Countryman, Secretary, Securities and Exchange 

Commission, 100 F Street NE, Washington, DC 20549-1090.

All submissions should refer to File No. S7-09-23. This file number should be included 

on the subject line if email is used. To help the Commission process and review your comments 

more efficiently, please use only one method. The Commission will post all comments on the 

Commission’s website (https://www.sec.gov/rules/other.shtml). Comments are also available for 

website viewing and printing in the Commission’s Public Reference Room, 100 F Street NE, 

Washington, DC 20549, on official business days between the hours of 10 a.m. and 3 p.m. 

Operating conditions may limit access to the Commission’s Public Reference Room. All 

comments received will be posted without change. Persons submitting comments are cautioned 

that we do not redact or edit personal identifying information from submissions. You should 

submit only information that you wish to make available publicly.

FOR FURTHER INFORMATION CONTACT: Sarit Klein, Office of the General Counsel, 

202-551-5037.

SUPPLEMENTARY INFORMATION: The RFA requires each Federal agency, twice each 

year, to publish in the Federal Register an agenda identifying rules that the agency expects to 

consider in the next 12 months that are likely to have a significant economic impact on a 

substantial number of small entities (5 U.S.C. 602(a)). The RFA specifically provides that 

publication of the agenda does not preclude an agency from considering or acting on any matter 

not included in the agenda and that an agency is not required to consider or act on any matter that 
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is included in the agenda (5 U.S.C. 602(d)). The Commission may consider or act on any matter 

earlier or later than the estimated date provided on the agenda. While the agenda reflects the 

current intent to complete a number of rulemakings in the next year, the precise dates for each 

rulemaking at this point are uncertain. Actions that do not have an estimated date are placed in 

the long-term category; the Commission may nevertheless act on items in that category within 

the next 12 months. The agenda includes new entries, entries carried over from prior 

publications, and rulemaking actions that have been completed (or withdrawn) since publication 

of the last agenda.

The following abbreviations for the acts administered by the Commission are used in the 

agenda:

“Securities Act”-- Securities Act of 1933

“Exchange Act”-- Securities Exchange Act of 1934

“Investment Company Act”-- Investment Company Act of 1940

“Investment Advisers Act”-- Investment Advisers Act of 1940

“Dodd Frank Act” -- Dodd-Frank Wall Street Reform and Consumer Protection Act

The Commission invites public comment on the agenda and on the individual agenda entries.

By the Commission.

Dated: April 11, 2023.

Vanessa A. Countryman,

Secretary.