Accredited Investor Definition Review Act
USA118th CongressHR-1579| House
| Updated: 6/6/2023
Bill Huizenga
Republican Representative
Michigan
Cosponsors (1)
Financial Services Committee, Banking, Housing, and Urban Affairs Committee
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
Accredited Investor Definition Review Act This bill revises 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 the Securities and Exchange Commission (SEC) discretion in determining what certifications, designations, or credentials investors must possess for purposes of investor protection, provided that the credentials are at least as broad as the existing regulations. Additionally, the SEC must review these credentials every five years.
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Timeline
Introduced in House
Referred to the House Committee on Financial Services.
Committee Consideration and Mark-up Session Held.
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 41 - 2.
Placed on the Union Calendar, Calendar No. 69.
Reported (Amended) by the Committee on Financial Services. H. Rept. 118-92.
Mrs. Wagner moved to suspend the rules and pass the bill, as amended.
Considered under suspension of the rules. (consideration: CR H2719-2721)
DEBATE - The House proceeded with forty minutes of debate on H.R. 1579.
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H2719)
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H2719)
Motion to reconsider laid on the table Agreed to without objection.
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Finance and Financial Sector
Administrative law and regulatory proceduresFinancial services and investmentsLicensing and registrationsSecuritiesSecurities and Exchange Commission (SEC)
Accredited Investor Definition Review Act
USA118th CongressHR-1579| House
| Updated: 6/6/2023
Accredited Investor Definition Review Act This bill revises 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 the Securities and Exchange Commission (SEC) discretion in determining what certifications, designations, or credentials investors must possess for purposes of investor protection, provided that the credentials are at least as broad as the existing regulations. Additionally, the SEC must review these credentials every five years.
Suggested Questions
Get AI-generated questions to help you understand this bill better
Timeline
Introduced in House
Referred to the House Committee on Financial Services.
Committee Consideration and Mark-up Session Held.
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 41 - 2.
Placed on the Union Calendar, Calendar No. 69.
Reported (Amended) by the Committee on Financial Services. H. Rept. 118-92.
Mrs. Wagner moved to suspend the rules and pass the bill, as amended.
Considered under suspension of the rules. (consideration: CR H2719-2721)
DEBATE - The House proceeded with forty minutes of debate on H.R. 1579.
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H2719)
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H2719)
Motion to reconsider laid on the table Agreed to without objection.
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Bill Huizenga
Republican Representative
Michigan
Cosponsors (1)
Financial Services Committee, Banking, Housing, and Urban Affairs Committee
Finance and Financial Sector
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
Administrative law and regulatory proceduresFinancial services and investmentsLicensing and registrationsSecuritiesSecurities and Exchange Commission (SEC)