Bill would write license-based accredited investor status into securities law
Placed on the calendarH.R. 3348Latest action
Sponsor: Bill Huizenga · Representative · MI
AIDecoded by AI · checked against the recordRead the official text
Official title: Accredited Investor Definition Review Act
119th Congress
Topics: Jobs & the economy
Introduced:
Read the official bill on Congress.govIn plain words
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HR 3348 would put the SEC's license-based accredited investor option into the Securities Act of 1933 and require regular reviews of the credential list.
55-second read · 4 questions answered below
What does this do?
The bill would write into the Securities Act of 1933 the option, allowed by the SEC since 2020, to qualify as an accredited investor through certain professional licenses, such as the Series 7, Series 65, and Series 82. The SEC would have to keep a list of qualifying certifications, designations, and credentials that includes the licenses it approved in 2020. It would also review the list within 18 months of enactment and at least once every five years after that.
Who does it affect?
Finance professionals who hold, or could earn, qualifying licenses but do not meet the income or net worth thresholds would be most directly affected. Companies and funds that raise money privately would also be affected, since the pool of eligible investors could grow.
Why does it matter?
Access to private investments for license holders would rest on federal law and not only on an SEC rule. The income and net worth tests would not change, and private investments would not open to the general public.
AI-drafted summary. Check it against the official text before you act on it.
Based on the “Reported in House” text of Jun 4, 2025.
Read the official bill on Congress.govMake the call
Where does it stand?
- IntroducedMay 13, 2025
- House committee
- House voteYou are here · Jun 4, 2025
- Senate
- The president's desk
Right now: it was placed on the , and the official record shows no floor action on it since. If the Senate changes it, it goes back to the House before reaching the president.
Latest action: — Placed on the Union Calendar, Calendar No. 103.