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H.R. 3394 · 119th Congress

Fair Investment Opportunities for Professional Experts Act

Introduced May 14, 2025Policy area: Finance and Financial Sector

Read the textOn Congress.gov

Status: Passed House

  1. Introduced
  2. Committee
  3. Passed House
  4. Passed Senate
  5. To President
  6. Law

Latest action

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

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.

Summary by the Congressional Research Service.

Actions

  1. Senate

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

  2. House

    Motion to reconsider laid on the table Agreed to without objection.

  3. House

    On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 397 - 12 (Roll no. 173). (text: CR H2869-2870)

  4. House

    Considered as unfinished business. (consideration: CR H2878-2879)

  5. House

    At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.

  6. House

    DEBATE - The House proceeded with forty minutes of debate on H.R. 3394.

  7. House

    Considered under suspension of the rules. (consideration: CR H2869-2871)

  8. House

    Mrs. Wagner moved to suspend the rules and pass the bill, as amended.

  9. House

    Placed on the Union Calendar, Calendar No. 85.

  10. House

    Reported (Amended) by the Committee on Financial Services. H. Rept. 119-115.

  11. House

    Ordered to be Reported (Amended) by the Yeas and Nays: 45 - 1.

  12. House

    Committee Consideration and Mark-up Session Held

Show 2 earlier actions
  1. House

    Referred to the House Committee on Financial Services.

  2. Introduced in House