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Senate Bill 3579
115th Congress(2017-2018)
Investment Adviser Regulatory Flexibility Improvement Act
Introduced
Introduced
Introduced in Senate on Oct 11, 2018
Overview
Text
Introduced in Senate 
Oct 11, 2018
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Introduced in Senate(Oct 11, 2018)
Oct 11, 2018
About Linkage
Multiple bills can contain the same text. This could be an identical bill in the opposite chamber or a smaller bill with a section embedded in a larger bill.
Bill Sponsor regularly scans bill texts to find sections that are contained in other bill texts. When a matching section is found, the bills containing that section can be viewed by clicking "View Bills" within the bill text section.
Bill Sponsor is currently only finding exact word-for-word section matches. In a future release, partial matches will be included.
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S. 3579 (Introduced-in-Senate)


115th CONGRESS
2d Session
S. 3579


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 rulemakings of the Commission under the Investment Advisers Act of 1940.

IN THE SENATE OF THE UNITED STATES

October 11, 2018

Mr. Rounds introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs

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 rulemakings of the Commission under the Investment Advisers Act of 1940.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title.

This Act may be cited as the “Investment Adviser Regulatory Flexibility Improvement Act”.

SEC. 2. Definition of small business or small organization.

(a) In general.—Not later than 1 year after the date of enactment of this Act, the Securities and Exchange Commission shall revise the definitions of “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 that section.

(b) Considerations.—In making the revision required under subsection (a), the Securities and Exchange Commission shall consider whether the alternative methods under which a business or organization may qualify as a small business or small organization under section 275.0–7 of title 17, Code of Federal Regulations, should include a threshold with respect to the number of non-clerical employees of the business or organization.