Fair Investment Opportunities for Professional Experts Act
- Introduced May 14
- Committee May 14
- Passed House Jun 23
- Passed Senate Next
- To President Not yet
- Law Not yet
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Summary
Fair Investment Opportunities for Professional Experts Act
Full summary3 paragraphs
This bill expands the eligibility criteria for an accredited investor for purposes of participating in private offerings of securities to include an individual determined by the Securities and Exchange Commission (SEC) to have qualifying professional knowledge through educational or professional experience. (Certain unregistered securities may only be offered to accredited investors.)
The bill also provides statutory authority for certain existing criteria for an accredited investor, including licensure or registration in good standing as a broker or investment adviser, specified annual salary, and specified net worth.
Further, 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.
Library of Congress summary, May 14, 2025
- Introduced in HouseMay 14, 2025
Actions
- SenateReceived in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.Jun 24, 2025
- HouseMotion to reconsider laid on the table Agreed to without objection.Jun 23, 2025
- HouseOn motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 397 - 12 (Roll no. 173). (text: CR H2869-2870)Jun 23, 2025
- HouseConsidered as unfinished business. (consideration: CR H2878-2879)Jun 23, 2025
- HouseAt the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.Jun 23, 2025
- HouseDEBATE - The House proceeded with forty minutes of debate on H.R. 3394.Jun 23, 2025
- HouseConsidered under suspension of the rules. (consideration: CR H2869-2871)Jun 23, 2025
- HouseMrs. Wagner moved to suspend the rules and pass the bill, as amended.Jun 23, 2025
- HouseReported (Amended) by the Committee on Financial Services. H. Rept. 119-115.Jun 3, 2025
- HousePlaced on the Union Calendar, Calendar No. 85.Jun 3, 2025
- HouseCommittee Consideration and Mark-up Session HeldMay 20, 2025
- HouseOrdered to be Reported (Amended) by the Yeas and Nays: 45 - 1.May 20, 2025
All actions14
- HouseIntroduced in HouseMay 14, 2025
- HouseReferred to the House Committee on Financial Services.May 14, 2025
Bill record
Text versions4
- Referred in SenateJun 24, 2025PDF: Referred in Senate
- Engrossed in HouseJun 23, 2025PDF: Engrossed in House
- Reported in HouseJun 3, 2025PDF: Reported in House
- Introduced in HouseMay 14, 2025PDF: Introduced in House
Committees2
- Senate Banking, Housing, and Urban Affairs CommitteeReferred To Jun 24, 2025
- House Financial Services CommitteeReported By Jun 3, 2025Markup By, May 20, 2025Referred To, May 14, 2025
Sponsor and cosponsors3 cosponsors
- Rep. J. Hill (R-AR-2)Sponsor, May 14, 2025
- Juan Vargas (D-CA-52)OriginalJoined May 14, 2025
- Pete Sessions (R-TX-17)Joined May 19, 2025
- Warren Davidson (R-OH-8)Joined May 19, 2025
Amendments0
No amendments offered
Cost estimates and reports1
- H. Rept. 119-115Committee report
Titles2
- Fair Investment Opportunities for Professional Experts ActShort Titles from RFS (Referred to Senate) bill text
- To amend the Securities Act of 1933 to codify certain qualifications of individuals as accredited investors for purposes of the securities laws.Official Title from EH (Engrossed in House) bill text
Subjects3
Related bills0
No related bills listed
Official record from Congress.gov, the House Clerk and the Senate; lobbying from Lobbying Disclosure Act filings. Updated Oct 28, 2026.