Bill > HR3348

This bill aims to expand and improve the definition of an "accredited investor" in securities law, which traditionally has been based on income or net worth thresholds. Specifically, the bill empowers the Securities and Exchange Commission (SEC) to recognize additional professional certifications, designations, and credentials that qualify individuals as accredited investors, beyond the current financial criteria. The bill requires the SEC to conduct periodic reviews every five years to evaluate and update the list of qualifying certifications, ensuring that the list reflects professionals who demonstrate financial sophistication and knowledge. The review process will allow the SEC to add new certifications that are substantially similar to existing ones in measuring an individual's financial expertise, and to adjust the list as needed to protect investors' interests. This expansion potentially provides more people with opportunities to participate in certain investment activities that were previously restricted to high-net-worth individuals, while maintaining safeguards to ensure investors have the necessary financial understanding to engage in more complex investment opportunities.

Business and Industry

https://www.congress.gov/bill/119th-congress/house-bill/3348/all-info