Small company definition tightened so both quantitative limits must be met; financial firms exempted for ordinary securities acquisitions. The Order narrows the small company definition by requiring satisfaction of both quantitative limits so entities exceeding one limit cannot qualify, and it inserts an explicit exemption allowing banking, insurance and housing finance companies to acquire securities in the ordinary course of business without the general restrictions on securities acquisitions.
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Small company definition tightened so both quantitative limits must be met; financial firms exempted for ordinary securities acquisitions.
The Order narrows the small company definition by requiring satisfaction of both quantitative limits so entities exceeding one limit cannot qualify, and it inserts an explicit exemption allowing banking, insurance and housing finance companies to acquire securities in the ordinary course of business without the general restrictions on securities acquisitions.
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