Investment Adviser Association Applauds Passage of the INVEST Act
December 11, 2025
Contact: IAA VP of Communications & Marketing Janay Rickwalder
The Investment Adviser Association applauds the House for its bipartisan passage of H.R. 3383, the INVEST Act. The bill includes IAA-supported language – previously passed unanimously in the House – directing the SEC to update its outdated “small entity” definition so future rulemakings better reflect the needs and burdens of small advisers. It also modernizes e-delivery to improve investor access to disclosures; updates the accredited investor definition so that knowledge, experience, and professional credentials – not just wealth – can determine eligibility; and expands investment options for millions of educators and nonprofit workers by allowing 403(b) retirement plans (common plans for public schools and nonprofits) to invest in collective investment trusts (CITs). The INVEST Act further protects older investors through a dedicated SEC Senior Investor Taskforce and strengthens public markets by streamlining disclosure requirements to help companies go and stay public. The IAA thanks Chairman French Hill, Capital Markets Subcommittee Chair Ann Wagner, Rep. Gregory Meeks, and Rep. Josh Gottheimer for their leadership in advancing these thoughtful, bipartisan reforms. The IAA strongly supports this bipartisan legislation and urges the Senate to act swiftly to advance a balanced, forward-looking package that modernizes U.S. capital markets, supports small businesses, improves retirement security, strengthens public markets, and protects investors.
