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SEC RIN: 3235-AN39 Publication ID: Spring 2025 
Title: ●Updates to "Small Entity" Definitions for Purposes of the Regulatory Flexibility Act 
Abstract:

The Divisions are considering recommending that the Commission propose amendments to update its definitions of "small entity" for purposes of the Regulatory Flexibility Act. In particular, the Division of Investment Management is considering recommending that the Commission propose amendments to rule 0-7 under the Investment Advisers Act of 1940 and rule 0-10 under the Investment Company Act of 1940 to increase the asset-based thresholds used in the definitions of "small business" and "small organization" for purposes of the Regulatory Flexibility Act along with corresponding amendments to Form ADV.

 
Agency: Securities and Exchange Commission(SEC)  Priority: Substantive, Nonsignificant 
RIN Status: First time published in the Unified Agenda Agenda Stage of Rulemaking: Proposed Rule Stage 
Major: Undetermined  Unfunded Mandates: No 
EO 14192 Designation: Other 
CFR Citation: 17 CFR 275.0-7    17 CFR 275.203-3(b)    17 CFR 270.0-10    17 CFR 279.1   
Legal Authority: Not Yet Determined   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  10/00/2025 
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Sirimal Mukerjee
Senior Special Counsel, Division of Investment Management
Securities and Exchange Commission
100 F Street NE,
Washington, DC 20549
Phone:202 551-3340
Email: mukerjees@sec.gov