PlainBillCongress, translated.Legislation. Context. Public interest.Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Congressional Research Service
Version 36 · Passed House amended · Feb 1, 2016
Fair Investment Opportunities for Professional Experts Act
(Sec. 2) This bill amends the Securities Act of 1933 to add to the definition of accredited investor any natural person whose individual net worth, or joint net worth with his or her spouse, exceeds $1 million (adjusted every five years for inflation).
The person's net worth shall exclude:
Showing the opening paragraphs of the official summary.
the person's primary residence; and
as a liability any indebtedness secured by the primary residence, up to the estimated fair market value of the residence at the time of the sale of securities.
Indebtedness secured by the person's primary residence in excess of the residence's estimated fair market value at the time of the sale of securities, however, shall be included in net worth as a liability.
An accredited investor shall also include any natural person:
whose individual income exceeded $200,000 in each of the two most recent years, or whose joint income with spouse exceeded $300,000 in each of those years, and has a reasonable expectation of reaching the same income level in the current year;
currently licensed or registered as a broker or investment adviser by the Securities and Exchange Commission, the Financial Industry Regulatory Authority (FINRA) (or an equivalent self-regulatory organization), or a state division responsible for licensing or registration of individuals in connection with securities activities; or
whose demonstrable education or job experience qualifies as professional knowledge of a subject related to a particular investment, and whose education or job experience is verified by the FINRA or an equivalent self-regulatory organization.
People & committees
Rep. Schweikert, David [R-AZ-6] · R–AZ
Legislative record
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Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 347 - 8 (Roll no. 46). (text: CR H378)
House roll call 46 · Individual votesMotion to reconsider laid on the table Agreed to without objection.
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 347 - 8 (Roll no. 46).(text: CR H378)
House roll call 46 · Individual votesConsidered as unfinished business. (consideration: CR H401)
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.
DEBATE - The House proceeded with forty minutes of debate on H.R. 2187.
Considered under suspension of the rules. (consideration: CR H378-379)
Mr. Garrett moved to suspend the rules and pass the bill, as amended.
Placed on the Union Calendar, Calendar No. 309.
Reported (Amended) by the Committee on Financial Services. H. Rept. 114-406.
Reported (Amended) by the Committee on Financial Services. H. Rept. 114-406.
Ordered to be Reported (Amended) by the Yeas and Nays: 54 - 2.
Committee Consideration and Mark-up Session Held.
Committee Consideration and Mark-up Session Held.
Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Referral.
Referred to the House Committee on Financial Services.
Introduced in House
Introduced in House
Primary sources
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Source last updated: Apr 7, 2025. Consult Congress.gov for the current record.
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Analyze H.R.2187 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.
Examine H.R.2187 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.
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