IAA Asks the SEC to Redefine ‘Small Advisor

September 26, 2023 by Patrick Donachie

The Investment Adviser Association wants the SEC to rethink how it classifies small businesses, a longstanding grievance that has gained new resonance in light of “the ongoing burden of regulations piling on top of each other,” according to its chief lawyer.

IAA President and CEO Karen Barr sent a rulemaking petition to the commission this week, urging the SEC to revamp its view of a “smaller advisor” as being one with assets under management at or below $25 million, despite the fact firms are only required to registered with the commission once they hit $100 million. 

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Originally Posted at Wealth Management on September 15, 2023 by Patrick Donachie.