House Bill 1579
118th Congress(2023-2024)
Accredited Investor Definition Review Act
Active
Passed House on Jun 5, 2023
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
1579
Congress
118
Policy Area
Finance and Financial Sector
Finance and Financial Sector
Primary focus of measure is U.S. banking and financial institutions regulation; consumer credit; bankruptcy and debt collection; financial services and investments; insurance; securities; real estate transactions; currency. Measures concerning financial crimes may fall under Crime and Law Enforcement. Measures concerning business and corporate finance may fall under Commerce policy area. Measures concerning international banking may fall under Foreign Trade and International Finance policy area.
checkPassed on June 5, 2023
Status
Passed
Type
Voice Vote
Voice Vote
A vote in which the presiding officer states the question, then asks those in favor and against to say "Yea" or "Nay," respectively, and announces the result according to his or her judgment. The names or numbers of senators voting on each side are not recorded.
Passed/agreed to in House On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H2719)
Summary
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. Additionally, the SEC must review these credentials every five years.
June 6, 2023
June 5, 2023
June 5, 2023
March 14, 2023
06/06/2023
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
06/05/2023
Motion to reconsider laid on the table Agreed to without objection.
06/05/2023
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.
06/05/2023
Passed/agreed to in House On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H2719)
06/05/2023
DEBATE - The House proceeded with forty minutes of debate on H.R. 1579.
06/05/2023
Considered under suspension of the rules.
06/05/2023
Mrs. Wagner moved to suspend the rules and pass the bill, as amended.
06/05/2023
Placed on the Union Calendar, Calendar No. 69.
06/05/2023
Reported (Amended) by the Committee on Financial Services. H. Rept. 118-92.
04/26/2023
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 41 - 2.
04/26/2023
Committee Consideration and Mark-up Session Held.
03/14/2023
Referred to the House Committee on Financial Services.
03/14/2023
Introduced in House
Public Record
Record Updated
Mar 18, 2024 8:56:40 PM