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New rules for investors: certification exams for accredited investors.

This act introduces mandatory examinations for individuals seeking to be recognized as "accredited investors." The goal is to ensure these individuals possess adequate financial knowledge before investing in riskier, unregulated products. This measure aims to better protect citizens from potential losses.
Key points
A requirement to pass an examination to be considered an "accredited investor," which is crucial for accessing certain types of investments.
The examination will test knowledge of various types of securities, financial statements, investment risks, and conflicts of interest.
The examination will be free and publicly available, increasing equal access to investment opportunities for knowledgeable individuals, regardless of their wealth.
article Official text account_balance Process page
VOTING RESULTS
2023-06-01
96%
For 383
Against 18
Abstain 0
Full voting results open_in_new
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 118_HR_2797
Sponsor: Rep. Flood, Mike [R-NE-1]
Process start date: 2023-04-24
Voting date: 2023-06-01
Meeting no: 1
Voting no: 244
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Equal Opportunity for All Investors Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_2797.

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 2023-04-24.

What are the main provisions?

Key points include:

  • A requirement to pass an examination to be considered an "accredited investor," which is crucial for accessing certain types of investments.
  • The examination will test knowledge of various types of securities, financial statements, investment risks, and conflicts of interest.
  • The examination will be free and publicly available, increasing equal access to investment opportunities for knowledgeable individuals, regardless of their wealth.
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

Where is the official voting record?

The official roll call vote is recorded at: voting record

Who is the primary sponsor?

The primary sponsor is Rep. Flood, Mike [R-NE-1].

What is the latest detailed status?

The latest detailed status is: 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)

Is this summary verified?

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

CATEGORIES

Economy