Informed Investor Access Act

This bill amends the definition of an accredited investor under the Securities Act of 1933 to include any natural person who receives personalized investment advice or recommendations from a registered investment adviser, a supervised person of such adviser, a registered broker or dealer, or an associated person of a broker or dealer acting on behalf of such broker or dealer, with respect to the applicable transaction. The bill also requires the Securities and Exchange Commission to revise its regulations to conform to this change.

Sec. 2, Accredited investors include individuals receiving advice from certain professionals: This section amends Section 2(a)(15) of the Securities Act of 1933 to add a new category of accredited investor: any natural person that the issuer reasonably believes is receiving personalized investment advice or personalized investment recommendations from a registered investment adviser or its supervised person, or from a registered broker or dealer or its associated person, regarding the applicable transaction. It also defines "investment advice" consistent with the Investment Advisers Act of 1940 and "recommendation" consistent with SEC Regulation Best Interest. The SEC must revise its rules to reflect this change.