H.R. 3394 119th Congress House

Fair Investment Opportunities for Professional Experts Act

Official title: To amend the Securities Act of 1933 to codify certain qualifications of individuals as accredited investors for purposes of the securities laws.

Introduced: May 14, 2025 Introduced by: J. French Hill Republican · Arkansas See on congress.gov

Finance and Financial Sector Financial services and investmentsSecurities

Everywhere this bill has been 14 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Jun 24, 2025

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Jun 23, 2025

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.

Jun 23, 2025

DEBATE - The House proceeded with forty minutes of debate on H.R. 3394.

Jun 23, 2025

Motion to reconsider laid on the table Agreed to without objection.

Jun 23, 2025

On 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

Considered as unfinished business. (consideration: CR H2878-2879)

Jun 23, 2025

Considered under suspension of the rules. (consideration: CR H2869-2871)

Jun 23, 2025

Mrs. Wagner moved to suspend the rules and pass the bill, as amended.

Jun 3, 2025

Reported (Amended) by the Committee on Financial Services. H. Rept. 119-115.

Jun 3, 2025

Placed on the Union Calendar, Calendar No. 85.

May 20, 2025

Ordered to be Reported (Amended) by the Yeas and Nays: 45 - 1.

May 20, 2025

Committee Consideration and Mark-up Session Held

May 14, 2025

Referred to the House Committee on Financial Services.

May 14, 2025

Introduced in House

Votes taken on this bill 1

Date	Chamber	What was voted on	Result	Yes–No
Jun 23, 2025	House · vote #173	On Motion to Suspend the Rules and Pass, as Amended	Passed	397–12	See who voted →

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What's happening now June 24, 2025

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Plain-English summary Congressional Research Service

Fair Investment Opportunities for Professional Experts Act

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.

Hearings & markups 1

Various Measures
Markup May 20, 2025 · 10:00 AM EDT · Financial Services Committee

Bill text 4 versions

Engrossed in House Formatted Text PDF Formatted XML
Introduced in House Formatted Text PDF Formatted XML
Referred in Senate Formatted Text PDF Formatted XML
Reported in House Formatted Text PDF Formatted XML

Source documents hosted by congress.gov.

Committees of jurisdiction 2

Financial Services Committee
House of Representatives
Banking, Housing, and Urban Affairs Committee
Senate

Lobbying activity 46

Registered lobbyists who named this bill in their disclosure filings. Source: federal Lobbying Disclosure Act filings.

BIOTECHNOLOGY INNOVATION ORGANIZATION
for BIOTECHNOLOGY INNOVATION ORGANIZATION · District of Columbia · 3rd Quarter 2026 (July 1 - Sep 30)
FRANKLIN TEMPLETON, INC. AND AFFILIATES (FORMERLY FRANKLIN RESOURCES, INC.)
for FRANKLIN TEMPLETON, INC. AND AFFILIATES (FORMERLY FRANKLIN RESOURCES, INC.) · California · 3rd Quarter 2026 (July 1 - Sep 30)
CHAMBER OF COMMERCE OF THE U.S.A.
for CHAMBER OF COMMERCE OF THE U.S.A. · District of Columbia · 3rd Quarter 2026 (July 1 - Sep 30)
FINANCIAL INDUSTRY REGULATORY AUTHORITY
for FINANCIAL INDUSTRY REGULATORY AUTHORITY · District of Columbia · 3rd Quarter 2026 (July 1 - Sep 30)
CAPITOL COUNSEL LLC
for FRANKLIN TEMPLETON FUNDS · California · 3rd Quarter 2026 (July 1 - Sep 30)
SECURITIES INDUSTRY AND FINANCIAL MARKETS ASSOCIATION
for SECURITIES INDUSTRY AND FINANCIAL MARKETS ASSOCIATION · District of Columbia · 3rd Quarter 2026 (July 1 - Sep 30)

Bodies those filers lobbied

HOUSE OF REPRESENTATIVES
46 filings
SENATE
46 filings
Treasury, Dept of
28 filings
Securities & Exchange Commission (SEC)
23 filings
Labor, Dept of (DOL)
18 filings
Executive Office of the President (EOP)
16 filings
Federal Reserve System
16 filings
Natl Security Council (NSC)
16 filings

A filing lists the bills it worked on and the parts of government it contacted in separate sections, so these are the bodies those filers named anywhere in the filing, not a per-bill breakdown.

See all 46 filings →

Cosponsors 3

California · May 14, 2025

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APA

U.S. Congress. (2026). H.R. 3394: Fair Investment Opportunities for Professional Experts Act. 119th Congress. Open America. https://openamerica.io/bill/119-HR-3394/

MLA

"H.R. 3394: Fair Investment Opportunities for Professional Experts Act." 119th Congress, 2026, Open America, https://openamerica.io/bill/119-HR-3394/.

Bluebook (legal)

H.R. 3394, 119th Cong. (2026), https://openamerica.io/bill/119-HR-3394/.

Markdown link

[H.R. 3394: Fair Investment Opportunities for Professional Experts Act](https://openamerica.io/bill/119-HR-3394/)