H.R. 4762 · 116th Congress
Fair Investment Opportunities for Professional Experts Act
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Never voted on. It didn't reach a floor vote before the 116th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
HillSponsor5 cosponsors · 5 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill modifies the definition of "accredited investor" for purposes of participating in private offerings of securities to include
What it does: CRS summary · Introduced in House · Oct 18, 2019
Fair Investment Opportunities for Professional Experts Act
This bill modifies the definition of "accredited investor" for purposes of participating in private offerings of securities to include
- an individual whose net worth or joint net worth with their spouse exceeds $1 million (adjusted for inflation), excluding from the calculation of their net worth their primary residence and a mortgage secured by that residence in certain circumstances;
- an individual whose income over the last two years exceeded $200,000 (adjusted for inflation) or joint spousal income exceeded $300,000 (adjusted for inflation) and who has a reasonable expectation of reaching the same income level in the current year;
- an individual who is licensed as a broker or investment advisor by certain entities; and
- an individual determined by the Securities and Exchange Commission (SEC) to have qualifying education or experience.
(Certain unregistered securities may only be offered to accredited investors.)
The SEC is directed to revise the definition of "accredited investor" in Regulation D (which exempts certain offerings from SEC registration requirements) to conform to changes in this bill.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Fair Investment Opportunities for Professional Experts Act
Latest action (Oct 18, 2019): Referred to the House Committee on Financial Services.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Oct 18, 2019
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.