U.S. House Financial Services Committee Chairman French Hill and Senator Tom Cotton have introduced bicameral legislation that would exempt small broker-dealers in good standing from certain audit requirements. The targeted relief is intended to reduce compliance costs and allow affected firms to direct more resources toward their businesses and customers. The lawmakers said existing audit requirements impose a disproportionate burden on small, privately held broker-dealers. Hill and Cotton previously introduced the legislation in the 115th and 116th Congresses.
2026-09-22U.S. Financial Services Committee
U.S. House Financial Services Committee Chairman French Hill and Senator Tom Cotton introduce audit relief bill for small broker-dealers
U.S. House Financial Services Committee Chairman French Hill and Senator Tom Cotton have introduced legislation providing small broker-dealers in good standing with relief from certain audit requirements. The bill is intended to reduce compliance costs for affected firms.