This legislation, titled the Accredited Investor Definition Review Act, amends the Securities Act of 1933 to broaden the definition of an accredited investor . It specifically allows individuals holding certain professional certifications, designations, or credentials, as determined by the Securities and Exchange Commission (SEC), to qualify. The bill requires the SEC to include professional certifications from a 2020 order and to consider broad attributes when establishing criteria for new qualifying designations. Additionally, the bill amends the Dodd-Frank Wall Street Reform and Consumer Protection Act by mandating the SEC to conduct periodic reviews of these designated certifications. The initial review must occur within 18 months of enactment, with subsequent reviews taking place at least every five years. During these reviews, the SEC is directed to add certifications that are substantially similar in measuring financial sophistication and to modify the list as necessary for public interest or investor protection.
Referred to the House Committee on Financial Services.
Ordered to be Reported (Amended) by the Yeas and Nays: 34 - 16.
Committee Consideration and Mark-up Session Held
Placed on the Union Calendar, Calendar No. 103.
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-134.
Finance and Financial Sector
Administrative law and regulatory proceduresFinancial services and investmentsLicensing and registrationsSecuritiesSecurities and Exchange Commission (SEC)
Accredited Investor Definition Review Act
USA119th CongressHR-3348| House
| Updated: 6/4/2025
This legislation, titled the Accredited Investor Definition Review Act, amends the Securities Act of 1933 to broaden the definition of an accredited investor . It specifically allows individuals holding certain professional certifications, designations, or credentials, as determined by the Securities and Exchange Commission (SEC), to qualify. The bill requires the SEC to include professional certifications from a 2020 order and to consider broad attributes when establishing criteria for new qualifying designations. Additionally, the bill amends the Dodd-Frank Wall Street Reform and Consumer Protection Act by mandating the SEC to conduct periodic reviews of these designated certifications. The initial review must occur within 18 months of enactment, with subsequent reviews taking place at least every five years. During these reviews, the SEC is directed to add certifications that are substantially similar in measuring financial sophistication and to modify the list as necessary for public interest or investor protection.
Administrative law and regulatory proceduresFinancial services and investmentsLicensing and registrationsSecuritiesSecurities and Exchange Commission (SEC)