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IAA Applauds House Passage of Bill Requiring SEC to Focus on Rulemaking Burdens on Small Business

May 31, 2023

Contact:
IAA VP of Communications & Marketing Janay Rickwalder.

Attribution to Karen Barr, IAA President and CEO

The IAA is delighted the House of Representatives has passed the Small Entity Update Act, which requires the SEC to update its small business definition. Due to an outdated definition, the SEC has not been required to explicitly consider reasonable alternatives to proposed regulations for smaller investment advisers. The IAA strongly supported this bill and urges the Senate to take it up promptly.

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