Bills · HR 4129
IN COMMITTEE· 119TH CONGRESS
House BillHR 4129Finance and Financial Sector
Tailoring for Main Street’s Investors Act
INTRO JUN 25· LAST ACTION JUN 25
READING
3MIN
COSPONSORS
2
READER REACTIONS0 TOTAL
NO VOTES YET · BE THE FIRST
- Introduced only
LEGISLATIVE PROGRESS
STEP 2 / 8Introduced
In Committee
Reported
Passed House
Passed Senate
Conference
To President
Became Law
WHAT THE BILL DOES
AI-writtenThis bill matters because it changes the level of government oversight for certain parts of the financial industry. By reducing registration and reporting requirements for some private fund advisers and smaller investment firms, it could make it cheaper and simpler for these businesses to operate. This might encourage more new, smaller funds or firms to start, potentially increasing competition and investment options.
However, it also means less frequent and less detailed information would be collected by the SEC from these specific firms, which could impact the SEC's ability to monitor market risks or protect investors. Voters should care because it's a balance between regulatory burden on businesses and the government's role in ensuring market transparency and investor safety, even for sophisticated investors. If the bill passes, it could foster growth for smaller financial entities but might also reduce some checks and balances.
KEY PROVISIONS
4AI-extractedPROVISION 01
Provides an exemption from SEC registration for investment advisers who exclusively manage private funds, have less than $5 billion in assets under management, and only accept sophisticated investors, provided those funds don't offer easy redemptions.
This significantly reduces regulatory hurdles for a specific type of investment adviser.
PROVISION 02
Requires these exempted private fund advisers to submit biennial reports to the SEC, with requirements no more burdensome than existing rules for similar advisers.
Even without full registration, the SEC still gathers some periodic information from these advisers.
PROVISION 03
Changes the filing frequency for Form ADV from annually to biennially for all investment advisers managing less than $1 billion in assets.
This reduces the administrative burden for a broad category of smaller investment advisers.
PROVISION 04
Directs the SEC to create a short, simplified version of Form ADV specifically for investment advisers managing less than $1 billion in assets.
This further simplifies compliance for smaller firms, saving them time and resources.
SPONSORSHIP
1 + 2
R· New York
YRS IN OFFICE
5
BILLS LED
40
COSPONSOR BREAKDOWNBIPARTISAN · 0%
DEM 0 REP 2 IND 0
ACTION TIMELINE
2 EVENTSJUN 25
Introduced in House
JUN 25
Referred to the House Committee on Financial Services.
BILL INFO
TypeHouse Bill
NumberHR 4129
Congress119th
StatusIn Committee
IntroducedJun 25, 2025
Last actionJun 25, 2025
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IN COMMITTEE· 119TH CONGRESS · FINANCIAL SERVICES COMMITTEE · INTRODUCED JUN 25, 2025
House BillHR 4129Finance and Financial Sector
Tailoring for Main Street’s Investors Act
INTRODUCED JUN 25, 2025· LAST ACTION JUN 25, 2025
PASSAGE CHANCES
—%
READING
3 min
COSPONSORS
2
COMPLEXITY
Moderate
