The Small Entity Update Act mandates the Securities and Exchange Commission to study and revise the definition of "small entity" under securities.

The Small Entity Update Act requires the Securities and Exchange Commission to conduct a study on the definition of "small entity" under securities laws. This study must consider the alignment of the current definition with the Regulatory Flexibility Act and the growth of financial markets. The Commission must submit reports to Congress with recommendations on how to adjust the definition to cover more entities. Additionally, the Commission must revise its rules based on the study and adjust the dollar figures every five years to reflect inflation.

The Small Entity Update Act mandates the Securities and Exchange Commission to study and revise the definition of "small entity" under securities.

The Small Entity Update Act requires the Securities and Exchange Commission to conduct a study on the definition of "small entity" under securities laws. This study must consider the alignment of the current definition with the Regulatory Flexibility Act and the growth of financial markets. The Commission must submit reports to Congress with recommendations on how to adjust the definition to cover more entities. Additionally, the Commission must revise its rules based on the study and adjust the dollar figures every five years to reflect inflation.