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Regulatory relief for investment advisers managing private funds.

This Act reduces regulatory burdens for firms managing private funds that exclusively serve wealthy or experienced investors. It introduces an exemption from full registration for advisers managing up to $5 billion in assets and decreases the reporting frequency for smaller firms. The goal is to lower administrative costs for smaller financial entities, potentially impacting capital market efficiency, but it does not directly affect the average citizen.
Key points
Exemption from full SEC registration for private fund advisers managing up to $5 billion in assets, provided they only serve wealthy or qualified investors.
Smaller investment firms (under $1 billion in assets) will only be required to file regulatory reports (Form ADV) once every two years, reducing their administrative load.
The SEC is mandated to develop a simplified, short version of the reporting form for these smaller advisers.
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Additional Information
Print number: 118_HR_9148
Sponsor: Rep. Garbarino, Andrew R. [R-NY-2]
Process start date: 2024-07-25
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Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Tailoring for Main Street’s Investors Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_9148.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2024-07-25.

What are the main provisions?

Key points include:

  • Exemption from full SEC registration for private fund advisers managing up to $5 billion in assets, provided they only serve wealthy or qualified investors.
  • Smaller investment firms (under $1 billion in assets) will only be required to file regulatory reports (Form ADV) once every two years, reducing their administrative load.
  • The SEC is mandated to develop a simplified, short version of the reporting form for these smaller advisers.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Garbarino, Andrew R. [R-NY-2].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

CATEGORIES

Economy