Accredited Investor Definition Review Act

senate

house

president

Legislation Details

Amends the Securities Act of 1933 and the Dodd-Frank Wall Street Reform and Consumer Protection Act regarding the definition of “accredited investor.”
Redesignates existing clauses in the definition of accredited investor to subparagraphs.
Introduces a new subparagraph allowing individuals with specific certifications, designations, or credentials to qualify as accredited investors.
Specifies that the certifications must be determined necessary or appropriate by the Commission for public interest or investor protection.
Requires the Commission to conduct a periodic review of accepted certifications, designations, and credentials related to the accredited investor definition.
Mandates that the review occurs not later than 18 months after enactment and at least once every five years thereafter.
Allows the Commission to add or modify the list of accepted certifications, designations, and credentials based on their assessment of financial sophistication, knowledge, and experience.

Amends the Securities Act of 1933 and the Dodd-Frank Wall Street Reform and Consumer Protection Act regarding the definition of “accredited investor.”
Redesignates existing clauses in the definition of accredited investor to subparagraphs.
Introduces a new subparagraph allowing individuals with specific certifications, designations, or credentials to qualify as accredited investors.
Specifies that the certifications must be determined necessary or appropriate by the Commission for public interest or investor protection.
Requires the Commission to conduct a periodic review of accepted certifications, designations, and credentials related to the accredited investor definition.
Mandates that the review occurs not later than 18 months after enactment and at least once every five years thereafter.
Allows the Commission to add or modify the list of accepted certifications, designations, and credentials based on their assessment of financial sophistication, knowledge, and experience.