"Small Business" and "Small Organization" Definitions for Investment Companies and Investment Advisers for Purposes of the Regulatory Flexibility Act
Abstract
The Securities and Exchange Commission (the "Commission" or the "SEC") is proposing to amend the rules under the Investment Company Act of 1940 (the "Investment Company Act") and under the Investment Advisers Act of 1940 (the "Advisers Act") that define the terms "small business" and "small organization" for purposes of the Regulatory Flexibility Act (the "RFA") to increase the asset-based thresholds used in those definitions. The Commission also is proposing a mechanism for periodic future inflation adjustments of the asset- based thresholds used in these definitions. The Commission further is proposing amendments to Form ADV and the rule providing continuing hardship exemptions from filing electronically for investment advisers in connection with the proposed amendments.
Federal Register Source
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Frequently Asked Questions
What is the 2026-00316 Federal Register document?
Document 2026-00316 is a Proposed Rule published by the Securities and Exchange Commission in the Federal Register on January 12, 2026. The Securities and Exchange Commission (the "Commission" or the "SEC") is proposing to amend the rules under the Investment Company Act of 1940 (the "Investment Company Act") and under the Investment Advisers Act of 1940 (the "Advisers Act") that define the terms "small business" and "small organization" for purposes of the Regulatory Flexibility Act (the "RFA") to increase the asset-based thresholds used in those definitions. The Commission also is proposing a mechanism for periodic future inflation adjustments of the asset- based thresholds used in these definitions. The Commission further is proposing amendments to Form ADV and the rule providing continuing hardship exemptions from filing electronically for investment advisers in connection with the proposed amendments. View the original at https://www.federalregister.gov/documents/2026/01/12/2026-00316/small-business-and-small-organization-definitions-for-investment-companies-and-investment-advisers.
Is document 2026-00316 an economically significant rule?
No. Document 2026-00316 is not classified as economically significant under Executive Order 12866. Economically significant rules require OIRA review and are estimated to have impacts of $100 million or more per year.