H.R. 3348 Reported by committee Finance and Financial Sector

Accredited Investor Definition Review Act

To amend the Securities Act of 1933 and the Dodd-Frank Wall Street Reform and Consumer Protection Act with respect to the definition of accredited investor, and for other purposes.

  1. Introduced
  2. Committee
  3. Passed House
  4. Passed Senate
  5. To President
  6. Became law
Sponsor Rep. Huizenga, Bill [R-MI-4] Introduced May 13, 2025 Cosponsors 0 Latest action June 4, 2025

Summary

Accredited Investor Definition Review Act
This bill revises who may be considered an accredited investor for purposes of participating in private offerings of securities. Certain unregistered securities may only be offered to accredited investors.
Specifically, the bill allows the Securities and Exchange Commission (SEC) discretion in determining what certifications, designations, or credentials investors must possess for purposes of investor protection, provided that the credentials are at least as broad as the existing regulations and include those professional licenses currently approved by the SEC. Additionally, the SEC must review these credentials every five years.

Summary by the Congressional Research Service, Library of Congress.

Congress.gov

Actions

  1. Jun 4, 2025 Placed on the Union Calendar, Calendar No. 103.
  2. Jun 4, 2025 Reported (Amended) by the Committee on Financial Services. H. Rept. 119-134.
  3. May 20, 2025 Ordered to be Reported (Amended) by the Yeas and Nays: 34 - 16.
  4. May 20, 2025 Committee Consideration and Mark-up Session Held
  5. May 13, 2025 Referred to the House Committee on Financial Services.
  6. May 13, 2025 Introduced in House

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