IAA Statement on the Introduction of Small Entity Update Act
September 29, 2025
Contact: IAA VP of Communications & Marketing Janay Rickwalder
The IAA thanks Senator Katie Britt (R-AL) and Senator Andy Kim (D-NJ) for introducing the Small Entity Update Act, a critical measure that directs the SEC to modernize its outdated definition of a small business.
For too long, this outdated standard has allowed the SEC to bypass meaningful consideration of less burdensome regulatory alternatives for small investment advisers.
The IAA strongly supports this bipartisan legislation and urges the Senate to act swiftly to ensure small advisers receive the tailored regulatory treatment they need.
