U.S. House of Representatives Passes IAA-Supported Small Entity Update Act
July 22, 2025
Contact: IAA VP of Communications & Marketing Janay Rickwalder
The IAA is pleased that the House of Representatives has passed the Small Entity Update Act (H.R. 3382), a critical measure that directs the SEC to modernize its outdated definition of a small business. For too long, this outdated standard has allowed the SEC to bypass meaningful consideration of less burdensome regulatory alternatives for small investment advisers.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.
