House Passes Bipartisan Bill to Provide Relief for Community Investment Adviser Firms
Washington, DC –Today, in response to the House’s passage of her bill, the Investment Adviser Regulatory Flexibility Improvement Act, as part of a bipartisan legislative package intended to reform regulations for small and local businesses, Congresswoman Gwen Moore (WI-04) released the following statement:
“A strong and vibrant economy depends on modernized laws and regulations that reflect the needs of Main Street Americans. My bipartisan bill, the Investment Adviser Regulatory Flexibility Improvement Act, does just that by requiring the Security and Exchange Commission to expand its outdated definition of a ‘small business’ to ensure that small, minority-owned, and women-run investment adviser firms are subject to regulations commensurate with their scale. This legislation will provide local adviser firms the relief they need to reinvigorate community-based economic growth.
“As this bill moves to the Senate, it is essential that Congress continues to work to implement regulations and reforms that put communities first by supporting small businesses and protecting their access to capital.”