H.R. 3394 · 119th Congress · Finance and financial sector
Fair Investment Opportunities for Professional Experts Act
How the House voted
Yea from the left, nay from the right, each side by party
House · Jun 23, 2025
Roll call ↗397
12
Passed the House.
Passed the House on June 23, 2025.
Latest action: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs
- IntroducedMay 14, 2025
- CommitteeJun 3, 2025
- Passed HouseJun 23, 2025
- Passed Senate
- Became law
On the record
- Cosponsors
- 3
- 1 Democrat, 2 Republicans
- Committees
- Senate Committee on Banking, Housing, and Urban AffairsHouse Committee on Financial Services
- Lobbying
- At least 12
- organizations named it2025 Q2 to 2026 Q3
What it does
Congress would write the definition of "accredited investor" into the Securities Act of 1933 itself, instead of leaving it to the SEC.
How each member voted
The House roll call, passed the House, June 23, 2025
Yea unless marked
D · House · NC-12
R · House · AL-4
D · House · CA-33
R · House · MO-4
R · House · GA-12
Congress would write the definition of "accredited investor" into the Securities Act of 1933 itself, instead of leaving it to the SEC. An accredited investor is a person allowed to buy private, unregistered securities. The bill sets the qualifying thresholds in statute: a net worth over $1,000,000 not counting the person's primary residence, or income over $200,000 (or $300,000 with a spouse) in each of the two most recent years. It adjusts the net-worth and income figures for inflation every five years. It also opens two new paths to accredited status that do not depend on wealth: brokers and investment advisers in good standing qualify, and the SEC may deem a person qualified if they have education or job experience showing professional knowledge of a given investment and a self-regulatory organization verifies it. The bill directs the SEC to revise Regulation D within 180 days to match.
Each stop is a step the bill’s own record states, with the date it happened. A ring is a step not yet taken. A bill becomes law when the President signs it or Congress overrides a veto.
At least 12 organizations named this measure in a lobbying filing. A floor, not a total: they were counted by the client name on 43 quarterly reports filed by 1 lobbying firm and by 11 organizations lobbying for themselves in 2025 Q2, 2025 Q3, 2025 Q4, 2026 Q1, 2026 Q2 and 2026 Q3. An organization that lobbied this measure without naming it is not counted here.
The filings record that lobbying was reported on the measure. The form has no per-bill dollar figure and no field for a position, so nothing here says how much was spent or which side an organization took.
5 of them, in no ranking: Securities Industry and Financial Markets Association; Franklin Resources, Inc. (Franklin Templeton) and Affiliates; Future Standard; Eshares, Inc. D/B/A Carta, Inc.; Chamber of Commerce of the U.S.A. Listed as filed, in the order the filings were read, and 7 others are not shown. These are not the largest, the earliest or the most active: we keep five names per measure, and the filings give no ranking.
From the LD-2 quarterly lobbying filings published at lda.gov by the Senate Office of Public Records. Read for 2025 Q1, 2025 Q2, 2025 Q3, 2025 Q4, 2026 Q1, 2026 Q2 and 2026 Q3. Our copy holds 24 fewer filings for 2025 Q1, 39 fewer filings for 2025 Q2, 42 fewer filings for 2025 Q3, 33 fewer filings for 2025 Q4, 28 fewer filings for 2026 Q1, 48 fewer filings for 2026 Q2 and 218 fewer filings for 2026 Q3 than the Senate's register counts, so those quarters are the filings we could read rather than every one filed. 2026 Q4 is still inside its filing window, so that quarter is only the filings posted so far.
Congress.gov bill status and cosponsor records; the House Clerk and Senate roll calls; lobbying reports filed under the Lobbying Disclosure Act (lda.gov); the plain summary and provisions are read from the bill text, each with its section.