Legis Daily

Equal Opportunity for All Investors Act of 2023

USA118th CongressHR-2797| House 
| Updated: 6/1/2023
Mike Flood

Mike Flood

Republican Representative

Nebraska

Cosponsors (3)
Wiley Nickel (Democratic)Shri Thanedar (Democratic)Michael Lawler (Republican)

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.

Bill Text Versions

View Text
4 versions available

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline

Bill from Previous Congress

HR 117-4776
Equal Opportunity for All Investors Act of 2021
Apr 24, 2023
Introduced in House
Apr 24, 2023
Referred to the House Committee on Financial Services.
Apr 26, 2023
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 42 - 1.
Apr 26, 2023
Committee Consideration and Mark-up Session Held.
May 30, 2023
Placed on the Union Calendar, Calendar No. 56.
May 30, 2023
Reported (Amended) by the Committee on Financial Services. H. Rept. 118-77.
May 30, 2023
Mrs. Wagner moved to suspend the rules and pass the bill, as amended.
May 30, 2023
Considered under suspension of the rules. (consideration: CR H2656-2658)
May 30, 2023
DEBATE - The House proceeded with forty minutes of debate on H.R. 2797.
May 30, 2023
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.
Jun 1, 2023
Considered as unfinished business. (consideration: CR H2706)
Jun 1, 2023
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)
View Vote
Jun 1, 2023
Motion to reconsider laid on the table Agreed to without objection.
Jun 1, 2023
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  • Bill from Previous Congress

    HR 117-4776
    Equal Opportunity for All Investors Act of 2021


  • April 24, 2023
    Introduced in House


  • April 24, 2023
    Referred to the House Committee on Financial Services.


  • April 26, 2023
    Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 42 - 1.


  • April 26, 2023
    Committee Consideration and Mark-up Session Held.


  • May 30, 2023
    Placed on the Union Calendar, Calendar No. 56.


  • May 30, 2023
    Reported (Amended) by the Committee on Financial Services. H. Rept. 118-77.


  • May 30, 2023
    Mrs. Wagner moved to suspend the rules and pass the bill, as amended.


  • May 30, 2023
    Considered under suspension of the rules. (consideration: CR H2656-2658)


  • May 30, 2023
    DEBATE - The House proceeded with forty minutes of debate on H.R. 2797.


  • May 30, 2023
    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.


  • June 1, 2023
    Considered as unfinished business. (consideration: CR H2706)


  • June 1, 2023
    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)
    View Vote


  • June 1, 2023
    Motion to reconsider laid on the table Agreed to without objection.


  • June 1, 2023
    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.

Bill Text Versions

View Text
4 versions available

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline

Bill from Previous Congress

HR 117-4776
Equal Opportunity for All Investors Act of 2021
Apr 24, 2023
Introduced in House
Apr 24, 2023
Referred to the House Committee on Financial Services.
Apr 26, 2023
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 42 - 1.
Apr 26, 2023
Committee Consideration and Mark-up Session Held.
May 30, 2023
Placed on the Union Calendar, Calendar No. 56.
May 30, 2023
Reported (Amended) by the Committee on Financial Services. H. Rept. 118-77.
May 30, 2023
Mrs. Wagner moved to suspend the rules and pass the bill, as amended.
May 30, 2023
Considered under suspension of the rules. (consideration: CR H2656-2658)
May 30, 2023
DEBATE - The House proceeded with forty minutes of debate on H.R. 2797.
May 30, 2023
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.
Jun 1, 2023
Considered as unfinished business. (consideration: CR H2706)
Jun 1, 2023
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)
View Vote
Jun 1, 2023
Motion to reconsider laid on the table Agreed to without objection.
Jun 1, 2023
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  • Bill from Previous Congress

    HR 117-4776
    Equal Opportunity for All Investors Act of 2021


  • April 24, 2023
    Introduced in House


  • April 24, 2023
    Referred to the House Committee on Financial Services.


  • April 26, 2023
    Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 42 - 1.


  • April 26, 2023
    Committee Consideration and Mark-up Session Held.


  • May 30, 2023
    Placed on the Union Calendar, Calendar No. 56.


  • May 30, 2023
    Reported (Amended) by the Committee on Financial Services. H. Rept. 118-77.


  • May 30, 2023
    Mrs. Wagner moved to suspend the rules and pass the bill, as amended.


  • May 30, 2023
    Considered under suspension of the rules. (consideration: CR H2656-2658)


  • May 30, 2023
    DEBATE - The House proceeded with forty minutes of debate on H.R. 2797.


  • May 30, 2023
    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.


  • June 1, 2023
    Considered as unfinished business. (consideration: CR H2706)


  • June 1, 2023
    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)
    View Vote


  • June 1, 2023
    Motion to reconsider laid on the table Agreed to without objection.


  • June 1, 2023
    Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Mike Flood

Mike Flood

Republican Representative

Nebraska

Cosponsors (3)
Wiley Nickel (Democratic)Shri Thanedar (Democratic)Michael Lawler (Republican)

Financial Services Committee, Banking, Housing, and Urban Affairs Committee

Finance and Financial Sector

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Banking and financial institutions regulationFinancial services and investmentsSecurities