PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the House Committee on Financial Services.
Congressional Research Service
Version 00 · Introduced in House · May 19, 2021
Fair Investment Opportunities for Professional Experts Act
This bill modifies the definition of accredited investor for purposes of participating in private offerings of securities to include
an individual whose net worth or joint net worth with their spouse exceeds $1 million (adjusted for inflation), excluding from the calculation of their net worth their primary residence and a mortgage secured by that residence in certain circumstances;
Showing the opening paragraphs of the official summary.
an individual whose income over the last two years exceeded $200,000 (adjusted for inflation) or joint spousal income exceeded $300,000 (adjusted for inflation) and who has a reasonable expectation of reaching the same income level in the current year;
an individual who is licensed as a broker or investment advisor by certain regulatory entities; and
an individual determined by the Securities and Exchange Commission (SEC) to have qualifying education or experience.
(Certain unregistered securities may only be offered to accredited investors.)
The SEC is directed to revise the definition of accredited investor in Regulation D (which exempts certain offerings from SEC registration requirements) to conform to changes in this bill.
People & committees
Rep. Hill, J. French [R-AR-2] · R–AR
Legislative record
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Referred to the House Committee on Financial Services.
Introduced in House
Introduced in House
Primary sources
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Source last updated: Jan 3, 2025. Consult Congress.gov for the current record.
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