Investment adviser registration cutoff would rise from $150 million to $175 million
Placed on the calendarH.R. 3673Latest action
Sponsor: Andy Barr · Representative · KY
AIDecoded by AI · checked against the recordRead the official text
Official title: Small Business Investor Capital Access Act
119th Congress
Topics: Jobs & the economy
Introduced:
Read the official bill on Congress.govIn plain words
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Private fund managers with under $175 million, up from $150 million, could skip SEC registration, and the cutoff would adjust for inflation every five years.
45-second read · 4 questions answered below
What does this do?
The bill raises the amount a private fund manager can oversee without registering with the Securities and Exchange Commission (SEC) from $150 million to $175 million. It also requires the SEC to adjust the number every five years using the Consumer Price Index, rounded to the nearest million dollars.
Who does it affect?
It mainly affects managers of private funds, such as venture capital and private equity funds, that manage between $150 million and $175 million. The SEC would oversee fewer advisers, and investors in those funds, usually wealthy individuals or institutions, would have somewhat less direct government oversight of those managers.
Why does it matter?
Some mid-sized fund managers who would have had to register under the old limit could operate without registering, so they would avoid regular reports, inspections, and compliance programs. They would still have to follow other laws, such as those against fraud.
AI-drafted summary. Check it against the official text before you act on it.
Based on the “Reported in House” text of Sep 8, 2025.
Read the official bill on Congress.govMake the call
Where does it stand?
- IntroducedJun 3, 2025
- House committee
- House voteYou are here · Sep 8, 2025
- Senate
- The president's desk
Right now: it was placed on the , and the official record shows no floor action on it since. If the Senate changes it, it goes back to the House before reaching the president.
Latest action: — Placed on the Union Calendar, Calendar No. 211.