SIFMA Welcomes House Passage of ‘The Expanding WKSI Eligibility Act’

Washington, D.C., December 1, 2025 – SIFMA today issued the following statement from president and CEO Kenneth E. Bentsen, Jr. on passage of ‘The Expanding WKSI Eligibility Act’ (H.R. 4430) by the U.S. House of Representatives today:

“SIFMA welcomes House passage of this bill, which would expand the universe of Well-Known Seasoned Issuers (WKSIs) by updating the WKSI definition. The SEC classifies certain large widely followed issuers as WKSIs under Rule 405 of the Securities Act of 1933. Issuers with WKSI status benefit from greater flexibility in registration and investor communications. Most notably, registration statements filed by WKSIs become effective immediately and automatic upon filing. Lowering the public float threshold to $400 million, as this bill does, will allow more seasoned issuers to take advantage of the benefits provided by this provision under the Securities Act. We thank Reps. Bryan Steil and Cleo Fields for their leadership on this important issue.”

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SIFMA is the leading trade association for broker-dealers, investment banks and asset managers operating in the U.S. and global capital markets. On behalf of our industry’s nearly 1 million employees, we advocate for legislation, regulation and business policy affecting retail and institutional investors, equity and fixed income markets and related products and services. We serve as an industry coordinating body to promote fair and orderly markets, informed regulatory compliance, and efficient market operations and resiliency. We also provide a forum for industry policy and professional development. SIFMA, with offices in New York and Washington, D.C., is the U.S. regional member of the Global Financial Markets Association (GFMA). For more information, visit http://www.sifma.org.