Equal Opportunity for All Investors Act of 2025

This bill, called the Equal Opportunity for All Investors Act of 2025, would let more everyday people qualify to invest in certain private deals by passing a knowledge exam, not just by having a high income or net worth . The Securities and Exchange Commission (SEC) must create the exam within one year. After that, a national securities association must offer it to the public for free within 180 days. The test should be manageable for people with solid financial know-how and will check understanding of different types of investments, what information companies must share, basic corporate governance, reading financial statements, and risks common in private investments—like limited access to your money, fewer disclosures, hard‑to‑judge valuations, information gaps, leverage, putting too many eggs in one basket, longer time frames, and conflicts of interest. The SEC can add other topics if needed to protect investors .

Key points:

• Who is affected: Individuals who want to invest in private offerings that are usually limited to “accredited investors”.
• What changes: You can become accredited by passing an SEC-created exam; the official definition will be updated to include people who pass the test.
• When: Exam set up within 1 year of enactment; offered free to the public within 180 days after it’s established.