,,ii  #aaeth ,,congress  #b;d ,session  
,s4 #cegi  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,october #aa1  
#bjah,mr4 ,rounds introduced the        
following bill2 which was read twice and
 referred to the ,committee on ,banking1
 ,housing1 and ,urban ,affairs  ,a      
,,bill  ,to require the ,securities and 
,exchange ,commission to revise the     
definitions of a small business and     
small organization for purposes of      
assessing the impact of the rulemakings 
of the ,commission under the ,investment
 ,advisers ,act of #aidj4  #a4 ,short   
title ,this ,act may be cited as the    
,investment ,adviser ,regulatory        
,flexibility ,improvement ,act4  #b4    
,definition of small business or small  
organization  7a7 ,in general ,not later
 than #a year after the date of         
enactment of this ,act1 the ,securities 
and ,exchange ,commission shall revise  
the definitions of small business and   
small organization under section        
#bge4j-g of title #ag1 ,code of ,federal

 ,regulations1 to provide alternative   
methods under which a business or       
organization may qualify as a small     
business or small organization under    
that section4  7b7 ,considerations ,in  
making the revision required under      
subsection 7a71 the ,securities and     
,exchange ,commission shall consider    
whether the alternative methods under   
which a business or organization may    
qualify as a small business or small    
organization under section #bge4j-g of  
title #ag1 ,code of ,federal            
,regulations1 should include a threshold
 with respect to the number of          
non-clerical employees of the business  
or organization4