US SB3749

Lowers the minimum aggregate market value threshold for well-known seasoned issuer (WKSI) status from the current requirement to $400,000,000 in voting and non-voting common equity held by non-affiliates

Issuers meeting the new $400 million threshold must still satisfy all other existing WKSI requirements under 17 CFR 230.405, except for the minimum worldwide market value requirement

Requires the SEC to publish annual reports within 90 days after each calendar year showing the total number of withdrawn applications where companies sought WKSI eligibility determinations

Introduced January 29, 2026 by Sen. McCormick (R) and Sen. Blunt Rochester (D); referred to the Committee on Banking, Housing, and Urban Affairs