H.R. 3348 · On the floor · Finance and Financial Sector

Accredited Investor Definition Review Act

Sponsor: Bill Huizenga (R-MI)

What it does

• Authorizes the SEC to set discretionary criteria for investor certifications, designations, or credentials for accredited investor status, provided they are at least as broad as current regulations and include currently approved professional licenses.
• Requires the SEC to review accredited investor credentials every five years to ensure they remain current and appropriate.

Official summary

Accredited Investor Definition Review Act This bill revises who may be considered an accredited investor for purposes of participating in private offerings of securities. Certain unregistered securities may only be offered to accredited investors. Specifically, the bill allows the Securities and Exchange Commission (SEC) discretion in determining what certifications, designations, or credentials investors must possess for purposes of investor protection, provided that the credentials are at least as broad as the existing regulations and include those professional licenses currently approved by the SEC. Additionally, the SEC must review these credentials every five years.

Latest action

Jun 4, 2025: Placed on the Union Calendar, Calendar No. 103.

Committee: House Financial Services