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Expanding WKSI Eligibility Act

USA119th CongressS-3749| Senate 
| Updated: 1/29/2026
David McCormick

David McCormick

Republican Senator

Pennsylvania

Cosponsors (1)
Lisa Blunt Rochester (Democratic)

Banking, Housing, and Urban Affairs Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
This bill seeks to expand the definition of a "well-known seasoned issuer" (WKSI) under federal securities laws by significantly lowering the financial threshold for qualification. It proposes to reduce the required aggregate market value of voting and non-voting common equity held by non-affiliates to $400,000,000 , making WKSI status accessible to a broader range of companies. The legislation specifies that while this market value requirement is changed, issuers must still satisfy other criteria outlined in section 230.405 of title 17, Code of Federal Regulations, excluding any other worldwide market value stipulations. By lowering this barrier, the bill aims to streamline regulatory processes for more companies that meet other WKSI qualifications. Furthermore, the bill includes a provision requiring the Securities and Exchange Commission (SEC) to publish an annual report. This report must detail the total number of applications withdrawn by issuers seeking a determination from the Commission not to be considered an ineligible issuer, specifically when such determination was requested to meet the WKSI definition.
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Timeline
Dec 2, 2025

Latest Companion Bill Action

HR 119-4430
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Jan 29, 2026
Introduced in Senate
Jan 29, 2026
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  • December 2, 2025

    Latest Companion Bill Action

    HR 119-4430
    Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.


  • January 29, 2026
    Introduced in Senate


  • January 29, 2026
    Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Finance and Financial Sector

Related Bills

  • HR 119-4430: Expanding WKSI Eligibility Act

Expanding WKSI Eligibility Act

USA119th CongressS-3749| Senate 
| Updated: 1/29/2026
This bill seeks to expand the definition of a "well-known seasoned issuer" (WKSI) under federal securities laws by significantly lowering the financial threshold for qualification. It proposes to reduce the required aggregate market value of voting and non-voting common equity held by non-affiliates to $400,000,000 , making WKSI status accessible to a broader range of companies. The legislation specifies that while this market value requirement is changed, issuers must still satisfy other criteria outlined in section 230.405 of title 17, Code of Federal Regulations, excluding any other worldwide market value stipulations. By lowering this barrier, the bill aims to streamline regulatory processes for more companies that meet other WKSI qualifications. Furthermore, the bill includes a provision requiring the Securities and Exchange Commission (SEC) to publish an annual report. This report must detail the total number of applications withdrawn by issuers seeking a determination from the Commission not to be considered an ineligible issuer, specifically when such determination was requested to meet the WKSI definition.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Dec 2, 2025

Latest Companion Bill Action

HR 119-4430
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Jan 29, 2026
Introduced in Senate
Jan 29, 2026
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  • December 2, 2025

    Latest Companion Bill Action

    HR 119-4430
    Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.


  • January 29, 2026
    Introduced in Senate


  • January 29, 2026
    Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
David McCormick

David McCormick

Republican Senator

Pennsylvania

Cosponsors (1)
Lisa Blunt Rochester (Democratic)

Banking, Housing, and Urban Affairs Committee

Finance and Financial Sector

Related Bills

  • HR 119-4430: Expanding WKSI Eligibility Act
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted