HR 4762
116th Congress
House
Finance and Financial Sector
Financial services and investments
Securities
Fair Investment Opportunities for Professional Experts Act
Introduced: October 18, 2019
Introduced by:
Hill, J. French
Republican
· Arkansas
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 18, 2019
Referred to the House Committee on Financial Services.
Oct 18, 2019
Introduced in House
Plain-English summary
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.
What's happening now
Referred to the House Committee on Financial Services.
Committees of jurisdiction
1