SECURITIES AND EXCHANGE COMMISSION ISSUES PROPOSED RULE: "SMALL BUSINESS" AND "SMALL ORGANIZATION" DEFINITIONS FOR INVESTMENT COMPANIES AND INVESTMENT ADVISERS FOR PURPOSES OF THE REGULATORY FLEXIBILITY ACT

WASHINGTON, Jan. 12 -- Securities And Exchange Commission has issued a proposed rule called: "Small Business" and "Small Organization" Definitions for Investment Companies and Investment Advisers for Purposes of the Regulatory Flexibility Act.

The proposed rule was published in the Federal Register on Jan. 12 by J. Matthew DeLesDernier, Deputy Secretary.

Summary: The Securities and Exchange Commission (the "Commission" or the "SEC") is proposing to amend the rules under the Investment Company Act of 1940 (the "Investment Company Act") and under the Investment Advisers Act of 1940 (the "Advisers Act") that define the terms "small business" and "small organization" for purposes of the Regulatory Flexibility Act (the "RFA") to increase the a...