US HB3339

Expands the SEC's "accredited investor" definition under Regulation D to include any individual who passes a certification examination, creating a pathway beyond current wealth-based thresholds

Requires the SEC to establish the certification examination within 1 year of enactment, designed at a difficulty level that financially sophisticated individuals would be unlikely to fail

Examination must test competency in securities types, disclosure requirements, corporate governance, financial statements, and risks specific to unregistered securities and private investments (including limited liquidity, leverage, and concentration risks)

A registered national securities association (such as FINRA) must administer the exam free of charge to the public within 180 days after the SEC establishes it

Passed the House of Representatives on July 21, 2025