Fair Investment Opportunities for Professional Experts Act

Summary

Fair Investment Opportunities for Professional Experts Act This bill amends the Securities Act of 1933 to modify the definition of "accredited investor" for purposes of participating in private offerings to include: an individual whose net worth or joint net worth with their spouse exceeds $1 million (adjusted for inflation), excluding from the calculation of their net worth their primary residence and a mortgage secured by that residence in certain circumstances; an individual whose income over the last two years exceeded $200,000 (adjusted for inflation) or joint spousal income exceeded $300,000 (adjusted for inflation) and who has a reasonable expectation of reaching the same income level in the current year; an individual who holds previously purchased securities, if the issuer believes that the individual met such income requirements at the time of purchase and would continue to do so; an individual who is licensed as a broker or investment advisor by certain entities; and an individual determined by the Securities and Exchange Commission (SEC) to have qualifying education or experience. (Certain unregistered securities may be offered only to accredited investors.) The SEC is directed to revise the definition of "accredited investor" in Regulation D (which exempts certain offerings from SEC registration requirements) to conform to changes in this bill.

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Timeline

1. 25 April 2018

   Introduced

   Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

   Source: IntroReferral

2. 25 April 2018

   Introduced

   Introduced in Senate

   Source: IntroReferral

3. 28 June 2018

   Committee

   Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-406.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 25 April 2018 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 25 April 2018

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 25 April 2018

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 25 April 2018

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. Tillis, Thomas [R-NC] · R · Sponsor
• Sen. Cortez Masto, Catherine [D-NV] · D · Sponsor
• Sen. Peters, Gary C. [D-MI] · D · Cosponsor
• Sen. Heller, Dean [R-NV] · R · Cosponsor
• Sen. Heitkamp, Heidi [D-ND] · D · Cosponsor
• Sen. Toomey, Patrick [R-PA] · R · Cosponsor
• · ssbk00 · Standing

Related records

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