Bill > HR4200

This bill, the SBIC Advisers Relief Act of 2014, aims to reduce overlapping regulations for advisers of Small Business Investment Companies (SBICs), which are entities that provide capital to small businesses. Specifically, it amends the Investment Advisers Act of 1940 to exempt certain SBIC advisers from registration requirements with the Securities and Exchange Commission (SEC) when they provide advice related to venture capital funds. It also excludes the assets managed by these SBICs in private funds from the calculation of assets under management that would otherwise trigger SEC registration and reporting requirements. Furthermore, the bill extends these exemptions to cover any state or local laws that require investment advisers to register, be licensed, or meet certain qualifications, thereby preventing duplicate oversight.