HOUSE 1579118th CongressReceived in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Accredited Investor Definition Review Act

Last Action: 6/6/2023

Actions

2023-06-06Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
2023-06-05Motion to reconsider laid on the table Agreed to without objection.
2023-06-05On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H2719)
2023-06-05Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H2719)
2023-06-05DEBATE - The House proceeded with forty minutes of debate on H.R. 1579.
2023-06-05Considered under suspension of the rules. (consideration: CR H2719-2721)
2023-06-05Mrs. Wagner moved to suspend the rules and pass the bill, as amended.
2023-06-05Placed on the Union Calendar, Calendar No. 69.
2023-06-05Reported (Amended) by the Committee on Financial Services. H. Rept. 118-92.
2023-06-05Reported (Amended) by the Committee on Financial Services. H. Rept. 118-92.
2023-04-26Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 41 - 2.
2023-04-26Committee Consideration and Mark-up Session Held.
2023-03-14Referred to the House Committee on Financial Services.
2023-03-14Introduced in House
2023-03-14Introduced in House

CRS Summary

As of 2023-06-05 (53)

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. Additionally, the SEC must review these credentials every five years.

Cosponsors (1)

Michael Lawler (R-NY)

Subjects

Administrative law and regulatory procedures
Financial services and investments
Licensing and registrations
Securities
Securities and Exchange Commission (SEC)

Read on Congress.gov

Sourced from Congress.gov (public domain).

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