Performance-Based Investment Advisory Fees

Document 2026-06229 is a Proposed Rule published by the Securities and Exchange Commission in the Federal Register on March 31, 2026. The Securities and Exchange Commission (the "Commission") intends to issue an order that would adjust for inflation dollar amount thresholds in the rule under the Investment Advisers Act of 1940 that permits investment advisers to charge performance-based fees to "qualified clients." Under that rule, an investment adviser may charge performance-based fees if a "qualified client" has a certain minimum net worth or minimum dollar amount of assets under the management of the adviser. The Commission's order would increase, to reflect inflation, the minimum net worth that a "qualified client" must have under the rule. The order would also increase, to reflect inflation, the minimum dollar amount of assets under management. View the original at https://www.federalregister.gov/documents/2026/03/31/2026-06229/performance-based-investment-advisory-fees.

No. Document 2026-06229 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.