Skip to Primary Navigation

SEC updates ‘small entity’ definition for investment companies and advisers

A blurry black and white photo of a shadowy man in a dark suit with a black tie and white shirt.
Photo: Jeff Hutchens/Getty Images

Definitions help determine whether a rulemaking will have a significant economic impact on a substantial number of small entities.

The SEC has adopted amendments to the rules defining which registered investment companies, investment advisers, and business development companies qualify as small entities under the Regulatory Flexibility Act (RFA).

Specifically, the amendments redefine the terms “small business” and “small organization” (collectively, “small entities”) used in connection with SEC rulemaking originally

Get full access, free for a month

This is a Premium article. Start your 28-day free trial to continue reading and access all content on GRIP – no payment details required.

What’s included:

  • Every new article, plus our 5,000+ archive
  • Daily regulatory insight and guidance
  • Exclusive interviews and in-depth analysis
  • Coverage of industry-leading events and conferences
  • All podcasts and videos, featuring industry experts
  • The full set of Rules Navigator tools
  • An ad-free experience