Small Entity Update Act

This bill requires the Securities and Exchange Commission (SEC) to study how it defines a "small entity" under federal rules on regulatory flexibility, within 1 year of enactment and again 5 years later. Each study must look at how the definition matches the goals of the Regulatory Flexibility Act, how much U.S. financial markets have grown since the definition was last changed, and how to define the term so a meaningful number of entities qualify. The SEC must report results to Congress with recommendations, including ways to expand the number of entities covered. The SEC must then revise its rules based on each study, after public notice and comment, and adjust any dollar figures in the definition for inflation every 5 years.

Full text and official record on Congress.gov

Sponsors

• Katie Boyd Britt Republican sponsor
• 4 cosponsors