H.R. 3348 · Where this bill is now
Waiting for a House vote
Approved by committee Jun 4, 2025; no House vote yet
What this bill does
In plain words · AI-written from the official summaryExpands SEC control over accredited investor rules
The bill gives the Securities and Exchange Commission (SEC) more flexibility in deciding what credentials or certifications someone needs to be considered an accredited investor—someone allowed to invest in private, unregistered securities. The SEC would have broad discretion to set these rules as long as they're at least as protective as current rules, and the SEC would have to review and update these requirements every five years.
How it affects you
If you're an individual investor interested in private securities offerings, this could affect what certifications or credentials you'd need to participate in those investments. The bill doesn't directly impact most everyday Americans, since private securities offerings typically aren't available to the general public anyway, but it does mean the SEC would have more control over who gets access to these investment opportunities and how often those rules get revisited.
Read the official summary (Introduced in House, May 13, 2025)
Accredited Investor Definition Review Act
This bill revises who may be considered an accredited investor for purposes of participating in private offerings of securities. Certain unregistered securities may only be offered to accredited investors.
Specifically, the bill allows the Securities and Exchange Commission (SEC) discretion in determining what certifications, designations, or credentials investors must possess for purposes of investor protection, provided that the credentials are at least as broad as the existing regulations and include those professional licenses currently approved by the SEC. Additionally, the SEC must review these credentials every five years.
Written by AI (Claude) using only the official summary by the Congressional Research Service, the Library of Congress’s nonpartisan research staff. It can miss nuance, so check the official summary and the bill text for details.
1st SessionH. R. 3348
A BILL
Accredited Investor Definition Review Act
Sponsor: Rep. Bill Huizenga (R-MI-4) · Introduced May 13, 2025 · Finance and Financial Sector · 2 versions of the text
Sources: Congress.gov actions and votes · bill text from GovInfo · latest official action Jun 4, 2025: “Placed on the Union Calendar, Calendar No. 103.”