HR 1579 · 118th Congress · Finance and Financial Sector
Accredited Investor Definition Review Act
Bill Progress
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Introduced✓
Committee✓
House Vote4
Senate5
EnactedLatest: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.(2023-06-06)
Plain Language Summary
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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.…
Summarized by Claude AI · Non-partisan · For informational purposes only
CBO Cost Estimate
Congressional Budget OfficeH.R. 1579, Accredited Investor Definition Review Act
May 30, 2023As ordered reported by the House Committee on Financial Services on April 26, 2023
Full CBO report ↗Official non-partisan budget analysis by the Congressional Budget Office