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Accredited Investor Definition Review: Adding Professional Certifications.

This Act changes the rules for who qualifies as an 'Accredited Investor,' allowing them to invest in less regulated and potentially riskier ventures. In addition to wealth criteria, qualifications can now be based on professional certifications, designations, or credentials demonstrating financial knowledge. The Securities and Exchange Commission (SEC) must regularly review and update the list of accepted qualifications, potentially opening new investment opportunities for knowledgeable individuals who do not meet high net worth requirements.
Key points
Expansion of the 'Accredited Investor' definition to include individuals holding specific professional certifications or credentials that prove financial sophistication.
The Securities and Exchange Commission (SEC) is mandated to review and update the list of accepted qualifications at least once every five years to include substantially similar standards of knowledge.
This change potentially increases access to private investment markets for financially educated individuals who do not meet the existing high wealth thresholds.
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Additional Information
Print number: 118_S_5121
Sponsor: Sen. Hagerty, Bill [R-TN]
Process start date: 2024-09-19
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Summarized by: gemini-flash-latest
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Accredited Investor Definition Review Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_5121.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2024-09-19.

What are the main provisions?

Key points include:

  • Expansion of the 'Accredited Investor' definition to include individuals holding specific professional certifications or credentials that prove financial sophistication.
  • The Securities and Exchange Commission (SEC) is mandated to review and update the list of accepted qualifications at least once every five years to include substantially similar standards of knowledge.
  • This change potentially increases access to private investment markets for financially educated individuals who do not meet the existing high wealth thresholds.
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 Sen. Hagerty, Bill [R-TN].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-30.

CATEGORIES

Economy