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 00 · Introduced in House · May 14, 2025
Fair Investment Opportunities for Professional Experts Act
This bill expands the eligibility criteria for an accredited investor for purposes of participating in private offerings of securities to include an individual determined by the Securities and Exchange Commission (SEC) to have qualifying professional knowledge through educational or professional experience. (Certain unregistered securities may only be offered to accredited investors.)
The bill also provides statutory authority for certain existing criteria for an accredited investor, including licensure or registration in good standing as a broker or investment adviser, specified annual salary, and specified net worth.
Further, 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
A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Motion to reconsider laid on the table Agreed to without objection.
On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 397 - 12 (Roll no. 173). (text: CR H2869-2870)
House roll call 173 · Individual votesPassed/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): 397 - 12 (Roll no. 173). (text: CR H2869-2870)
House roll call 173 · Individual votesConsidered as unfinished business. (consideration: CR H2878-2879)
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. 3394.
Considered under suspension of the rules. (consideration: CR H2869-2871)
Mrs. Wagner moved to suspend the rules and pass the bill, as amended.
Placed on the Union Calendar, Calendar No. 85.
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-115.
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-115.
Ordered to be Reported (Amended) by the Yeas and Nays: 45 - 1.
Committee Consideration and Mark-up Session Held
Referred to the House Committee on Financial Services.
Introduced in House
Introduced in House
Primary sources
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No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.
Source last updated: Jul 13, 2026. Consult Congress.gov for the current record.
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Analyze H.R.3394 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.3394 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.
Examine H.R.3394 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.
Examine H.R.3394 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.