; or (E) a 10 percent, or higher, short-term debt ratio. (4) Investment adviser criteria With respect to an investment adviser that is registered with the Commission under the Investment Advisers Act of 1940, the criteria in this paragraph is that the investment adviser has more than $1,500,000,000,000 in assets under management. (c) Rescission of designation (1) In general With respect to a nonbank financial company designated as systemically important under subsection (a), if the Council determines that neither material financial distress at the nonbank financial company, nor the nature, scope, size, scale, concentration, interconnectedness, or mix of the activities of the nonbank financial company, could pose a threat to the financial stability of the United States, the Council may rescind such designation (in this subsection referred to as a rescission determination ) for a period of 2 years. (2) Authority to renew rescission The Council may renew a rescission determination made under paragraph (1) for an unlimited number of additional 2-year periods, if the Council makes a new determination that the nonbank financial company meets the criteria described under paragraph (1) at the beginning of each such renewal. (3) Authority to review rescission The Chairperson may review the status of a nonbank financial company with respect to a rescission determination before the end of a 2-year period described under paragraph (1) or (2) for any reason. The Chairperson shall notify the members of the Council of such review and shall call a vote to renew the rescission determination within 7 days of such notification. If the Council fails to renew the rescission determination, the nonbank financial company shall be deemed once again to be designated as systemically important. (d) Automatic rescission of designation If a nonbank financial company does not meet the criteria described in subsection (b) for 9 consecutive months, the Council shall immediately, and automatically rescind the designation of the nonbank financial