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Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries

Titles (3)

Short Titles

Short Titles - House of Representatives

Short Titles as Passed House

Fair Investment Opportunities for Professional Experts Act

Short Titles as Reported to House

Fair Investment Opportunities for Professional Experts Act

Official Titles

Official Titles - House of Representatives

Official Title as Introduced

To amend the Securities Act of 1933 to codify certain qualifications of individuals as accredited investors for purposes of the securities laws.


Actions Overview (3)

Date Actions Overview
11/01/2017Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H8320-8321)
10/31/2017Reported (Amended) by the Committee on Financial Services. H. Rept. 115-375.
03/16/2017Introduced in House

All Actions (13)

Date Chamber All Actions
11/02/2017SenateReceived in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
11/01/2017-2:36pmHouseMotion to reconsider laid on the table Agreed to without objection.
11/01/2017-2:36pmHouseOn motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H8320-8321)
11/01/2017-2:19pmHouseDEBATE - The House proceeded with forty minutes of debate on H.R. 1585.
11/01/2017-2:19pmHouseConsidered under suspension of the rules. (consideration: CR H8320-8323)
11/01/2017-2:19pmHouseMr. Huizenga moved to suspend the rules and pass the bill, as amended.
10/31/2017HousePlaced on the Union Calendar, Calendar No. 275.
10/31/2017HouseReported (Amended) by the Committee on Financial Services. H. Rept. 115-375.
10/12/2017HouseOrdered to be Reported (Amended) by the Yeas and Nays: 58 - 2.
Action By: Committee on Financial Services
10/12/2017HouseCommittee Consideration and Mark-up Session Held.
Action By: Committee on Financial Services
10/11/2017HouseCommittee Consideration and Mark-up Session Held.
Action By: Committee on Financial Services
03/16/2017HouseReferred to the House Committee on Financial Services.
03/16/2017HouseIntroduced in House

Cosponsors (11)


Committees (2)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Related Documents
House Financial Services03/16/2017 Referred to
10/12/2017 Markup by
10/31/2017 Reported by H. Rept. 115-375
Senate Banking, Housing, and Urban Affairs11/02/2017 Referred to

A related bill may be a companion measure, an identical bill, a procedurally-related measure, or one with text similarities. Bill relationships are identified by the House, the Senate, or CRS, and refer only to same-congress measures.


Subjects (3)


Latest Summary (3)

There are 3 summaries for H.R.1585. View summaries

Shown Here:
Passed House amended (11/01/2017)

(This measure has not been amended since it was reported to the House on October 31, 2017. The summary of that version is repeated here.)

Fair Investment Opportunities for Professional Experts Act

(Sec. 2) 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 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 only be offered 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.