HR 2797
118th Congress
House
Finance and Financial Sector
Banking and financial institutions regulation
Financial services and investments
Securities
Equal Opportunity for All Investors Act of 2023
Everywhere this bill has been
15 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 1, 2023
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
May 31, 2023
Motion to reconsider laid on the table Agreed to without objection.
May 31, 2023
On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 383 - 18 (Roll no. 244). (text: 05/30/2023 CR H2656)
May 31, 2023
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 383 - 18 (Roll no. 244). (text: 05/30/2023 CR H2656)
May 31, 2023
Considered as unfinished business. (consideration: CR H2706)
May 30, 2023
At 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.
May 30, 2023
DEBATE - The House proceeded with forty minutes of debate on H.R. 2797.
May 30, 2023
Considered under suspension of the rules. (consideration: CR H2656-2658)
May 30, 2023
Mrs. Wagner moved to suspend the rules and pass the bill, as amended.
May 30, 2023
Placed on the Union Calendar, Calendar No. 56.
May 30, 2023
Reported (Amended) by the Committee on Financial Services. H. Rept. 118-77.
Apr 26, 2023
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 42 - 1.
Apr 26, 2023
Committee Consideration and Mark-up Session Held.
Apr 24, 2023
Referred to the House Committee on Financial Services.
Apr 24, 2023
Introduced in House
Votes taken on this bill
1
| Date | Chamber | What was voted on | Result | Yes–No | |
|---|---|---|---|---|---|
| Jun 1, 2023 | House · vote #244 | On Motion to Suspend the Rules and Pass, as Amended | Passed | 383–18 | See who voted → |
Plain-English summary
Equal Opportunity for All Investors Act of 2023
This bill expands 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 an individual to qualify through an examination established by the Securities and Exchange Commission. The examination must
- be designed with an appropriate difficulty level such that an individual with financial sophistication or training would be unlikely to fail,
- include methods to determine competency in certain areas, and
- be administered by a registered national securities association and offered free of charge to the public.
Currently, accredited investors must satisfy certain requirements indicating their reduced exposure to financial risk, including those related to income, net worth, or knowledge and experience.
What's happening now
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Committees of jurisdiction
2