Financial Services Committee, Banking, Housing, and Urban Affairs Committee
Introduced
In Committee
On Floor
Passed Chamber
Enacted
Equal Opportunity for All Investors Act of 2023 This bill expands 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 an individual to qualify through an examination established by the Securities and Exchange Commission. The examination must be designed with an appropriate difficulty level such that an individual with financial sophistication or training would be unlikely to fail, include methods to determine competency in certain areas, and be administered by a registered national securities association and offered free of charge to the public. Currently, accredited investors must satisfy certain requirements indicating their reduced exposure to financial risk, including those related to income, net worth, or knowledge and experience.
Referred to the House Committee on Financial Services.
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 42 - 1.
Committee Consideration and Mark-up Session Held.
Placed on the Union Calendar, Calendar No. 56.
Reported (Amended) by the Committee on Financial Services. H. Rept. 118-77.
Mrs. Wagner moved to suspend the rules and pass the bill, as amended.
Considered under suspension of the rules. (consideration: CR H2656-2658)
DEBATE - The House proceeded with forty minutes of debate on H.R. 2797.
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.
Considered as unfinished business. (consideration: CR H2706)
On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 383 - 18 (Roll no. 244). (text: 05/30/2023 CR H2656)
Referred to the House Committee on Financial Services.
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 42 - 1.
Committee Consideration and Mark-up Session Held.
Placed on the Union Calendar, Calendar No. 56.
Reported (Amended) by the Committee on Financial Services. H. Rept. 118-77.
Mrs. Wagner moved to suspend the rules and pass the bill, as amended.
Considered under suspension of the rules. (consideration: CR H2656-2658)
DEBATE - The House proceeded with forty minutes of debate on H.R. 2797.
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.
Considered as unfinished business. (consideration: CR H2706)
On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 383 - 18 (Roll no. 244). (text: 05/30/2023 CR H2656)
Motion to reconsider laid on the table Agreed to without objection.
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Finance and Financial Sector
Banking and financial institutions regulationFinancial services and investmentsSecurities
Equal Opportunity for All Investors Act of 2023
USA118th CongressHR-2797| House
| Updated: 6/1/2023
Equal Opportunity for All Investors Act of 2023 This bill expands 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 an individual to qualify through an examination established by the Securities and Exchange Commission. The examination must be designed with an appropriate difficulty level such that an individual with financial sophistication or training would be unlikely to fail, include methods to determine competency in certain areas, and be administered by a registered national securities association and offered free of charge to the public. Currently, accredited investors must satisfy certain requirements indicating their reduced exposure to financial risk, including those related to income, net worth, or knowledge and experience.
Referred to the House Committee on Financial Services.
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 42 - 1.
Committee Consideration and Mark-up Session Held.
Placed on the Union Calendar, Calendar No. 56.
Reported (Amended) by the Committee on Financial Services. H. Rept. 118-77.
Mrs. Wagner moved to suspend the rules and pass the bill, as amended.
Considered under suspension of the rules. (consideration: CR H2656-2658)
DEBATE - The House proceeded with forty minutes of debate on H.R. 2797.
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.
Considered as unfinished business. (consideration: CR H2706)
On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 383 - 18 (Roll no. 244). (text: 05/30/2023 CR H2656)
Referred to the House Committee on Financial Services.
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 42 - 1.
Committee Consideration and Mark-up Session Held.
Placed on the Union Calendar, Calendar No. 56.
Reported (Amended) by the Committee on Financial Services. H. Rept. 118-77.
Mrs. Wagner moved to suspend the rules and pass the bill, as amended.
Considered under suspension of the rules. (consideration: CR H2656-2658)
DEBATE - The House proceeded with forty minutes of debate on H.R. 2797.
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.
Considered as unfinished business. (consideration: CR H2706)
On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 383 - 18 (Roll no. 244). (text: 05/30/2023 CR H2656)