Accredited Investor Definition Review Act

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.