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![handle is hein.congrecreports/crptxafjv0001 and id is 1 raw text is: AUTHENTICATED
U.GOVERNMENT
INFORMATION .
118TH CONGRESS REPORT
1st Session HOUSE OF REPRESENTATIVES 118-92
ACCREDITED INVESTOR DEFINITION REVIEW ACT
JUNE 5, 2023.-Committed to the Committee of the Whole House on the State of
the Union and ordered to be printed
Mr. MCHENRY, from the Committee on Financial Services,
submitted the following
R E P O R T
[To accompany H.R. 1579]
[Including cost estimate of the Congressional Budget Office]
The Committee on Financial Services, to whom was referred the
bill (H.R. 1579) to amend the Securities Act of 1933 and the Dodd-
Frank Wall Street Reform and Consumer Protection Act with re-
spect to the definition of accredited investor, and for other pur-
poses, having considered the same, reports favorably thereon with
an amendment and recommends that the bill as amended do pass.
The amendment is as follows:
Strike all after the enacting clause and insert the following:
SECTION 1. SHORT TITLE.
This Act may be cited as the Accredited Investor Definition Review Act.
SEC. 2. CERTIFICATIONS, DESIGNATIONS, AND CREDENTIALS UNDER THE DEFINITION OF AC-
CREDITED INVESTOR.
Section 2(a)(15) of the Securities Act of 1933 (15 U.S.C. 77b(a)(15)) is amended-
(1) by redesignating clauses (i) and (ii) as subparagraphs (A) and (B), respec-
tively;
(2) in subparagraph (A), as so redesignated, by striking adviser; or and in-
serting adviser;;
(3) in subparagraph (B), as so redesignated, by striking the period at the end
and inserting ; or; and
(4) by adding at the end the following:
(C) an individual holding such certifications, designations, or credentials
as the Commission determines necessary or appropriate in the public inter-
est or for the protection of investors, where such list of certifications, des-
ignations, or credentials shall be no less broad than those certifications,
designations, or credentials described in the amendments made to section
230.501 of title 17, Code of Federal Regulations, by the final rule of the
Commission titled 'Accredited Investor Definition' (85 Fed. Reg. 64234; pub-
lished October 9, 2020)..
39-006](ViewImageLocal?handle=hein.congrecreports/crptxafjv0001&div=1&collection=&method=preview&ext=.png&size=3)