06.06.23
House Unanimously Passes Bills To Expand Accredited Investor Pool
by: Mark Schoeff Jr.
House lawmakers unanimously approved a measure that would increase the number of investors who can buy private securities by expanding the criteria beyond income and wealth. One of the bills, the Fair Investment Opportunities for Professional Experts Act, would deem as accredited investors people who have certain licenses or educational or professional backgrounds; brokers and investment advisors would qualify under the legislation. The Accredited Investor Definition Review Act, meanwhile, gives the U.S. Securities and Exchange Commission discretion to determine what certifications, designations or credentials investors must possess to be accredited.
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