[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6321 Introduced in House (IH)]

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115th CONGRESS
  2d Session
                                H. R. 6321

    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.


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                    IN THE HOUSE OF REPRESENTATIVES

                             July 10, 2018

Ms. Moore (for herself and Mr. Huizenga) introduced the following bill; 
       which was referred to the Committee on Financial Services

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                                 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.

    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 OF SMALL ORGANIZATION.

    Not later than end the 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 non-clerical employees of 
the business or organization.
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