US SB3880

Raises the assets under management threshold for private fund adviser registration exemption from $150 million to $175 million under the Investment Advisers Act of 1940

Requires the SEC to adjust this dollar threshold every 5 years based on changes in the Consumer Price Index for All Urban Consumers

Inflation adjustments must be rounded to the nearest multiple of $1 million

Introduced February 12, 2026 by Senators Rounds and Gallego with bipartisan sponsorship and referred to the Committee on Banking, Housing, and Urban Affairs