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Expanding accredited investor definition to include those with professional financial advice.

This bill aims to broaden access to certain types of investments for more individuals. The changes will allow people who receive professional investment advice to be considered "accredited investors," a status previously limited to those with high incomes or significant assets. This means citizens using financial advisors may gain access to a wider range of investment opportunities.
Key points
Individuals receiving individualized investment advice from certain professionals will qualify as "accredited investors."
This change opens up investment opportunities previously restricted to high-income or high-net-worth individuals.
Definitions of "investment advice" and "investment recommendation" will align with existing investment adviser regulations.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 118_HR_2773
Sponsor: Rep. McHenry, Patrick T. [R-NC-10]
Process start date: 2023-04-20
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

To amend the definition of an accredited investor to include individuals receiving advice from certain professionals, and for other purposes.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_2773.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-04-20.

What are the main provisions?

Key points include:

  • Individuals receiving individualized investment advice from certain professionals will qualify as "accredited investors."
  • This change opens up investment opportunities previously restricted to high-income or high-net-worth individuals.
  • Definitions of "investment advice" and "investment recommendation" will align with existing investment adviser regulations.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. McHenry, Patrick T. [R-NC-10].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Economy