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SEC raises qualified client thresholds for performance fees effective June 2026

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Janaya Moscony | SEC3

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SEC3 is monitoring the SEC’s recent inflation adjustment to the “qualified client” thresholds under Advisers Act Rule 205-3, which affects advisers that charge performance-based fees.

On April 28, 2026, the SEC issued an order increasing the dollar thresholds used to determine whether a client qualifies as a “qualified client” under Rule 205-3 of the Investment Advisers Act. The official SEC Release can be found at SEC Release No. IA-6961 – Order Approving Adjustment for Inflation of the.

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