119th Congress · introduced in the House · May 13, 2025
Accredited Investor Definition Review Act
Official title from Congress.gov
Latest action (Jun 4, 2025): Placed on the Union Calendar, Calendar No. 103.
View on Congress.govPolicy area: Finance and Financial Sector
Congressional Research Service summary, version: 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.
No cosponsors.
Includes amendment, cloture, and procedural votes. Each is labeled with its exact question; only a passage question is a vote to pass the bill.
No recorded roll calls on this bill in coverage.
Placed on the Union Calendar, Calendar No. 103.
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-134.
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-134.
Ordered to be Reported (Amended) by the Yeas and Nays: 34 - 16.
Committee Consideration and Mark-up Session Held
Referred to the House Committee on Financial Services.
Introduced in House
Introduced in House
Actions from Congress.gov, newest first.
Administrative law and regulatory procedures · Financial services and investments · Licensing and registrations · Securities · Securities and Exchange Commission (SEC)
LD-2 reports whose issue descriptions explicitly cite this bill (bill type and number validated against Congress.gov records). A citation does not establish the client's position or any contact with a member.
Loading lobbying reportsCoverage: reports for 2025 onward, posted Jan 1, 2025 through Oct 23, 2026.
26 citations; showing the 25 most recently posted.
BIOTECHNOLOGY INNOVATION ORGANIZATION · lobbying firm or registrant: BIOTECHNOLOGY INNOVATION ORGANIZATION
2026 Q3 report (Jul 1, 2026 – Sep 30, 2026) · posted Oct 21, 2026 · issue area: Small Business
$2,560,000
Spent on own lobbying
…gulatory Burden Capital Formation Incentives ---H.R.3323: Helping Startups Continue To Grow Act ---H.R.3339: Equal Opportunity for All Investors Act of 2025 ---H.R.3348: Accredited Investor Definition Review Act ---H.R.3382/S.2924: Small Entity Update Act ---H.R.3394: Fair Investment Opportunities for Professional Experts Act…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
FRANKLIN TEMPLETON, INC. AND AFFILIATES (FORMERLY FRANKLIN RESOURCES, INC.) · lobbying firm or registrant: FRANKLIN TEMPLETON, INC. AND AFFILIATES (FORMERLY FRANKLIN RESOURCES, INC.)
2026 Q3 report (Jul 1, 2026 – Sep 30, 2026) · posted Oct 20, 2026 · issue area: Financial Institutions/Investments/Securities
$280,000
Spent on own lobbying
…ment Choice Act, which codifies President Trumps executive order (14330) on alternative investments in 401(k)s Accredited investor reform initiatives including H.R. 3348, the Accredited Investor Definition Review Act, H.R. 3339, the Equal Opportunity for All Investors Act, and H.R. 3394, the Fair Investment Opportunities for Pr…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
FRANKLIN TEMPLETON FUNDS · lobbying firm or registrant: CAPITOL COUNSEL LLC
2026 Q3 report (Jul 1, 2026 – Sep 30, 2026) · posted Oct 14, 2026 · issue area: Financial Institutions/Investments/Securities
$50,000
Paid to lobbying firm
…ncluding H.R. 2544 & S. 1222, the Financial Freedom Act, and H.R. 5748, the Retirement Investment Choice Act. Accredited investor reform initiatives, including H.R. 3348, the Accredited Investor Definition Review Act, H.R. 3339, the Equal Opportunity for All Investors Act, and H.R. 3394, the Fair Investment Opportunities for Pr…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
FRANKLIN TEMPLETON, INC. AND AFFILIATES (FORMERLY FRANKLIN RESOURCES, INC.) · lobbying firm or registrant: FRANKLIN TEMPLETON, INC. AND AFFILIATES (FORMERLY FRANKLIN RESOURCES, INC.)
2026 Q2 report (Apr 1, 2026 – Jun 30, 2026) · amended · posted Jul 22, 2026 · issue area: Financial Institutions/Investments/Securities
$270,000
Spent on own lobbying
…tment Choice Act which codifies President Trumps executive order (14330) on alternative investments in 401(k)s Accredited investor reform initiatives including H.R. 3348, the Accredited Investor Definition Review Act, H.R. 3339, the Equal Opportunity for All Investors Act, and H.R. 3394, the Fair Investment Opportunities for Pr…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
BIOTECHNOLOGY INNOVATION ORGANIZATION · lobbying firm or registrant: BIOTECHNOLOGY INNOVATION ORGANIZATION
2026 Q2 report (Apr 1, 2026 – Jun 30, 2026) · posted Jul 21, 2026 · issue area: Small Business
$2,360,000
Spent on own lobbying
…gulatory Burden Capital Formation Incentives ---H.R.3323: Helping Startups Continue To Grow Act ---H.R.3339: Equal Opportunity for All Investors Act of 2025 ---H.R.3348: Accredited Investor Definition Review Act ---H.R.3382/S.2924: Small Entity Update Act ---H.R.3394: Fair Investment Opportunities for Professional Experts Act…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
FUTURE STANDARD · lobbying firm or registrant: FUTURE STANDARD
2026 Q2 report (Apr 1, 2026 – Jun 30, 2026) · posted Jul 20, 2026 · issue area: Financial Institutions/Investments/Securities
$120,000
Spent on own lobbying
…ng Investor Opportunities Act, all provisions. H.R. 3339, Equal Opportunity for All Investors Act of 2025, provisions relating to the accredited investor rule. H.R. 3348, Accredited Investor Definition Review Act, provisions relating to the accredited investor rule. H.R. 3394, Fair Investment Opportunities for Professional Expe…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
ESHARES, INC. D/B/A CARTA, INC. · lobbying firm or registrant: ESHARES, INC. D/B/A CARTA, INC.
2026 Q2 report (Apr 1, 2026 – Jun 30, 2026) · posted Jul 20, 2026 · issue area: Financial Institutions/Investments/Securities
$120,000
Spent on own lobbying
…of 2025; H.R. 4429, the Developing and Empowering our Aspiring Leaders Act of 2025; H.R. 3394, the Fair Investment Opportunities for Professional Experts Act; H.R. 3348, the Accredited Investor Definition Review Act; H.R. 3339, the Equal Opportunity for All Investors Act of 2025; H.R. 3383, the Incentivizing New Ventures and E…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
FRANKLIN TEMPLETON FUNDS · lobbying firm or registrant: CAPITOL COUNSEL LLC
2026 Q2 report (Apr 1, 2026 – Jun 30, 2026) · posted Jul 17, 2026 · issue area: Financial Institutions/Investments/Securities
$50,000
Paid to lobbying firm
…ncluding H.R. 2544 & S. 1222, the Financial Freedom Act, and H.R. 5748, the Retirement Investment Choice Act. Accredited investor reform initiatives, including H.R. 3348, the Accredited Investor Definition Review Act, H.R. 3339, the Equal Opportunity for All Investors Act, and H.R. 3394, the Fair Investment Opportunities for Pr…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
FUTURE STANDARD · lobbying firm or registrant: FUTURE STANDARD
2026 Q1 report (Jan 1, 2026 – Mar 31, 2026) · posted Apr 20, 2026 · issue area: Financial Institutions/Investments/Securities
$140,000
Spent on own lobbying
…ng Investor Opportunities Act, all provisions. H.R. 3339, Equal Opportunity for All Investors Act of 2025, provisions relating to the accredited investor rule. H.R. 3348, Accredited Investor Definition Review Act, provisions relating to the accredited investor rule. H.R. 3394, Fair Investment Opportunities for Professional Expe…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
BIOTECHNOLOGY INNOVATION ORGANIZATION · lobbying firm or registrant: BIOTECHNOLOGY INNOVATION ORGANIZATION
2026 Q1 report (Jan 1, 2026 – Mar 31, 2026) · posted Apr 20, 2026 · issue area: Small Business
$1,620,000
Spent on own lobbying
Capital Formation Incentives ---H.R.3323: Helping Startups Continue To Grow Act ---H.R.3339: Equal Opportunity for All Investors Act of 2025 ---H.R.3348: Accredited Investor Definition Review Act ---H.R.3382/S.2924: Small Entity Update Act ---H.R.3394: Fair Investment Opportunities for Professional Experts Act…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
FRANKLIN TEMPLETON, INC. AND AFFILIATES (FORMERLY FRANKLIN RESOURCES, INC.) · lobbying firm or registrant: FRANKLIN TEMPLETON, INC. AND AFFILIATES (FORMERLY FRANKLIN RESOURCES, INC.)
2026 Q1 report (Jan 1, 2026 – Mar 31, 2026) · posted Apr 20, 2026 · issue area: Financial Institutions/Investments/Securities
$250,000
Spent on own lobbying
…ment Choice Act which codifies President Trumps executive order (14330) on alternative investments in 401(k)s. Accredited investor reform initiatives including H.R. 3348, the Accredited Investor Definition Review Act, H.R. 3339, the Equal Opportunity for All Investors Act, and H.R. 3394, the Fair Investment Opportunities for Pr…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
ESHARES, INC. D/B/A CARTA, INC. · lobbying firm or registrant: ESHARES, INC. D/B/A CARTA, INC.
2026 Q1 report (Jan 1, 2026 – Mar 31, 2026) · posted Apr 20, 2026 · issue area: Financial Institutions/Investments/Securities
$90,000
Spent on own lobbying
…5; H.R. 4429, the Developing and Empowering our Aspiring Leaders (DEAL) Act of 2025; H.R. 3394, the Fair Investment Opportunities for Professional Experts Act; H.R. 3348, the Accredited Investor Definition Review Act; H.R. 3339, the Equal Opportunity for All Investors Act of 2025; H.R. 3383, the Incentivizing New Ventures and E…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
FRANKLIN TEMPLETON FUNDS · lobbying firm or registrant: CAPITOL COUNSEL LLC
2026 Q1 report (Jan 1, 2026 – Mar 31, 2026) · posted Apr 15, 2026 · issue area: Financial Institutions/Investments/Securities
$50,000
Paid to lobbying firm
…ncluding H.R. 2544 & S. 1222, the Financial Freedom Act, and H.R. 5748, the Retirement Investment Choice Act. Accredited investor reform initiatives, including H.R. 3348, the Accredited Investor Definition Review Act, H.R. 3339, the Equal Opportunity for All Investors Act, and H.R. 3394, the Fair Investment Opportunities for Pr…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
FRANKLIN TEMPLETON, INC. AND AFFILIATES (FORMERLY FRANKLIN RESOURCES, INC.) · lobbying firm or registrant: FRANKLIN TEMPLETON, INC. AND AFFILIATES (FORMERLY FRANKLIN RESOURCES, INC.)
2025 Q4 report (Oct 1, 2025 – Dec 31, 2025) · posted Jan 20, 2026 · issue area: Financial Institutions/Investments/Securities
$320,000
Spent on own lobbying
…tment Choice Act which codifies President Trumps executive order (14330) on alternative investments in 401(k)s Accredited investor reform initiatives including H.R. 3348, the Accredited Investor Definition Review Act, H.R. 3339, the Equal Opportunity for All Investors Act, and H.R. 3394, the Fair Investment Opportunities for Pr…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
CHAMBER OF COMMERCE OF THE U.S.A. · lobbying firm or registrant: CHAMBER OF COMMERCE OF THE U.S.A.
2025 Q4 report (Oct 1, 2025 – Dec 31, 2025) · posted Jan 20, 2026 · issue area: Financial Institutions/Investments/Securities
$17,960,000
Spent on own lobbying
…Act of 2025 H.R. 3323, Helping Startups Continue to Grow Act H.R. 3339, Equal Opportunity for Investors Act of 2025 H.R. 3343, Greenlighting Growth Act of 2025 H.R. 3348, Accredited Investor Definition Review Act H.R. 3351, Improving Access to Small Business Information Act H.R. 3352, HALOS Act of 2025 H.R. 3357, Enhancing Mult…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
FUTURE STANDARD · lobbying firm or registrant: FUTURE STANDARD
2025 Q4 report (Oct 1, 2025 – Dec 31, 2025) · posted Jan 20, 2026 · issue area: Financial Institutions/Investments/Securities
$140,000
Spent on own lobbying
…t, all provisions. H.R 3383, Increasing Investor Opportunities Act, all provisions. H.R. 3339, Equal Opportunity for All Investors Act of 2025, all provisions. H.R. 3348, Accredited Investor Definition Review Act, all provisions. H.R. 3394, Fair Investment Opportunities for Professional Experts Act, all provisions.
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
ESHARES, INC. D/B/A CARTA, INC. · lobbying firm or registrant: ESHARES, INC. D/B/A CARTA, INC.
2025 Q4 report (Oct 1, 2025 – Dec 31, 2025) · posted Jan 20, 2026 · issue area: Financial Institutions/Investments/Securities
$120,000
Spent on own lobbying
…r Aspiring Leaders (DEAL) Act; H.R. 3383, the Increasing Investor Opportunities Act; H.R. 3394, the Fair Investment Opportunities for Professional Experts Act; H.R. 3348, the Accredited Investor Definition Review Act; H.R. 3339, the Equal Opportunity for All Investors Act of 2025; H.R. 3383, the Incentivizing New Ventures and E…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
CHAMBER OF COMMERCE OF THE U.S.A. · lobbying firm or registrant: CHAMBER OF COMMERCE OF THE U.S.A.
2025 Q3 report (Jul 1, 2025 – Sep 30, 2025) · posted Oct 20, 2025 · issue area: Financial Institutions/Investments/Securities
$13,650,000
Spent on own lobbying
…Act of 2025 H.R. 3323, Helping Startups Continue to Grow Act H.R. 3339, Equal Opportunity for Investors Act of 2025 H.R. 3343, Greenlighting Growth Act of 2025 H.R. 3348, Accredited Investor Definition Review Act H.R. 3351, Improving Access to Small Business Information Act H.R. 3352, HALOS Act of 2025 H.R. 3357, Enhancing Mult…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
FRANKLIN TEMPLETON, INC. AND AFFILIATES (FORMERLY FRANKLIN RESOURCES, INC.) · lobbying firm or registrant: FRANKLIN TEMPLETON, INC. AND AFFILIATES (FORMERLY FRANKLIN RESOURCES, INC.)
2025 Q3 report (Jul 1, 2025 – Sep 30, 2025) · posted Oct 20, 2025 · issue area: Financial Institutions/Investments/Securities
$290,000
Spent on own lobbying
…ive investments & private markets H.R. 2544--Financial Freedom Act S. 1222--The Liberty Act Retail investor access to alternative investments & private markets H.R. 3348--Accredited Investor Definition Review Act H.R. 3339--Equal Opportunity for All Investors Act H.R. 3394--Fair Investment Opportunities for Professional Experts…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
FUTURE STANDARD · lobbying firm or registrant: FUTURE STANDARD
2025 Q3 report (Jul 1, 2025 – Sep 30, 2025) · posted Oct 20, 2025 · issue area: Financial Institutions/Investments/Securities
$140,000
Spent on own lobbying
…t, all provisions. H.R 3383, Increasing Investor Opportunities Act, all provisions. H.R. 3339, Equal Opportunity for All Investors Act of 2025, all provisions. H.R. 3348, Accredited Investor Definition Review Act, all provisions. H.R. 3394, Fair Investment Opportunities for Professional Experts Act, all provisions. Issues relat…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
ESHARES, INC. D/B/A CARTA, INC. · lobbying firm or registrant: ESHARES, INC. D/B/A CARTA, INC.
2025 Q3 report (Jul 1, 2025 – Sep 30, 2025) · posted Oct 20, 2025 · issue area: Financial Institutions/Investments/Securities
$90,000
Spent on own lobbying
…r Aspiring Leaders (DEAL) Act; H.R. 3383, the Increasing Investor Opportunities Act; H.R. 3394, the Fair Investment Opportunities for Professional Experts Act; H.R. 3348, the Accredited Investor Definition Review Act; H.R. 3339, the Equal Opportunity for All Investors Act of 2025
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
AMERICANS FOR FINANCIAL REFORM · lobbying firm or registrant: AMERICANS FOR FINANCIAL REFORM
2025 Q2 report (Apr 1, 2025 – Jun 30, 2025) · posted Jul 22, 2025 · issue area: Financial Institutions/Investments/Securities
$150,000
Spent on own lobbying
…ief Act H.R. 3323, Helping Startups Continue to Grow Act H.R. 3343, the Greenlighting Growth Act H.R. 3339, the Equal Opportunity for All Investors Act of 2025 H.R. 3348, the Accredited Investor Definition Review Act H.R. 2441, the Improving Disclosure for Investors Act of 2025 "H.R. 1013, the Retirement Fairness for Charities…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
CHAMBER OF COMMERCE OF THE U.S.A. · lobbying firm or registrant: CHAMBER OF COMMERCE OF THE U.S.A.
2025 Q2 report (Apr 1, 2025 – Jun 30, 2025) · posted Jul 21, 2025 · issue area: Financial Institutions/Investments/Securities
$19,340,000
Spent on own lobbying
…Act of 2025 H.R. 3323, Helping Startups Continue to Grow Act H.R. 3339, Equal Opportunity for Investors Act of 2025 H.R. 3343, Greenlighting Growth Act of 2025 H.R. 3348, Accredited Investor Definition Review Act H.R. 3351, Improving Access to Small Business Information Act H.R. 3352, HALOS Act of 2025 H.R. 3357, Enhancing Mult…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
ESHARES, INC. D/B/A CARTA, INC. · lobbying firm or registrant: ESHARES, INC. D/B/A CARTA, INC.
2025 Q2 report (Apr 1, 2025 – Jun 30, 2025) · posted Jul 21, 2025 · issue area: Financial Institutions/Investments/Securities
$140,000
Spent on own lobbying
…r Aspiring Leaders (DEAL) Act; H.R. 3383, the Increasing Investor Opportunities Act; H.R. 3394, the Fair Investment Opportunities for Professional Experts Act; H.R. 3348, the Accredited Investor Definition Review Act; H.R. 3339, the Equal Opportunity for All Investors Act of 2025
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
FUTURE STANDARD · lobbying firm or registrant: FUTURE STANDARD
2025 Q2 report (Apr 1, 2025 – Jun 30, 2025) · posted Jul 21, 2025 · issue area: Financial Institutions/Investments/Securities
$160,000
Spent on own lobbying
…t, all provisions. H.R 3383, Increasing Investor Opportunities Act, all provisions. H.R. 3339, Equal Opportunity for All Investors Act of 2025, all provisions. H.R. 3348, Accredited Investor Definition Review Act, all provisions. H.R. 3394, Fair Investment Opportunities for Professional Experts Act, all provisions.
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing