H.R. 3394 · Passed House · Finance and Financial Sector

Fair Investment Opportunities for Professional Experts Act

Sponsor: J. French Hill (R-AR)

What it does

• Expands the definition of accredited investor for private securities offerings to include individuals the SEC determines have qualifying professional knowledge from education or experience.
• Provides statutory authority for existing criteria such as good-standing licensure as a broker or investment adviser, a specified annual salary, and a specified net worth.
• Directs the SEC to revise the accredited investor definition in Regulation D to conform to the bill.

Official summary

Fair Investment Opportunities for Professional Experts Act This bill expands the eligibility criteria for an accredited investor for purposes of participating in private offerings of securities to include an individual determined by the Securities and Exchange Commission (SEC) to have qualifying professional knowledge through educational or professional experience. (Certain unregistered securities may only be offered to accredited investors.) The bill also provides statutory authority for certain existing criteria for an accredited investor, including licensure or registration in good standing as a broker or investment adviser, specified annual salary, and specified net worth. Further, the SEC is directed to revise the definition of accredited investor in Regulation D (which exempts certain offerings from SEC registration requirements) to conform to changes in this bill.

Latest action

Jun 24, 2025: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Committee: Senate Banking, Housing, and Urban Affairs