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US HB3348

Bill

Status

Introduced

5/13/2025

Primary Sponsor

Bill Huizenga

Click for details

Origin

House of Representatives

119th Congress

AI Summary

  • Amends the Securities Act of 1933 to allow individuals holding certain professional certifications, designations, or credentials determined by the SEC to qualify as accredited investors

  • Codifies the professional certifications from the SEC's October 2020 order (85 Fed. Reg. 64234) that currently qualify individuals for accredited investor status

  • Requires the SEC to establish criteria for qualifying certifications that are no less broad than the attributes in the 2020 "Accredited Investor Definition" final rule

  • Mandates SEC review of the qualifying certifications list within 18 months of enactment and at least every 5 years thereafter

  • Directs the SEC during periodic reviews to add substantially similar certifications and adjust the list as necessary for investor protection

Legislative Description

Accredited Investor Definition Review Act

Finance and financial sector

Last Action

Placed on the Union Calendar, Calendar No. 103.

6/4/2025

Committee Referrals

Financial Services5/13/2025

Full Bill Text

No bill text available