Investment Adviser Regulatory Flexibility Improvement Act

Bill: 116-hr-2436
Sponsor: full_name: Del. San Nicolas, Michael F. Q. [D-GU-At Large]
Introduced: 2019-05-01
Policy area: Finance and Financial Sector
Subjects: Administrative law and regulatory procedures

Financial services and investments

Securities and Exchange Commission (SEC)

Small business
Latest action: action_date: 2019-05-01
text: Referred to the House Committee on Financial Services.

Summaries:
action_date: 2019-05-01
action_desc: Introduced in House
text: <p><b>Investment Adviser Regulatory Flexibility Improvement Act </b></p> <p>This bill directs the Securities and Exchange Commission (SEC) to revise the definitions of "small business" and "small organization" for the purpose of analyzing the impact of certain regulations. Specifically, the SEC must provide alternative methods through which a business or organization may qualify under such definitions. </p>

tv_txt: I 116th CONGRESS 1st Session H. R. 2436 IN THE HOUSE OF REPRESENTATIVES May 1, 2019 Mr. San Nicolas (for himself and Mr. Huizenga ) introduced the following bill; which was referred to the Committee on Financial Services A BILL To require the Securities and Exchange Commission to revise the definitions of a small business and small organization for purposes of assessing the impact of the Commission’s rulemakings under the Investment Advisers Act of 1940.

1. Short title This Act may be cited as the Investment Adviser Regulatory Flexibility Improvement Act . 2. Definition of small business of small organization Not later than the end of the 1-year period beginning on the date of the enactment of this Act, the Securities and Exchange Commission shall revise the definitions of a small business and small organization under section 275.0–7 of title 17, Code of Federal Regulations, to provide alternative methods under which a business or organization may qualify as a small business or small organization under such section. In making such revision, the Commission shall consider whether such alternative methods should include a threshold based on the number of nonclerical employees of the business or organization.