WASHINGTON, D.C. – The Financial Technology Association (FTA) today released a statement applauding House passage of H.R. 835, the Fair Investment Opportunities for Professional Experts Act, legislation sponsored by Rep. French Hill (AR-02) to expand access to investment opportunities for all Americans.
“Investing in growing companies shouldn’t be reserved for the wealthy,” said Penny Lee, President and Chief Executive Officer of the Financial Technology Association. “We applaud the House for advancing Congressman Hill’s bill to modernize the accredited investor definition so that more Americans can benefit from access to private markets. Expanding the pool of eligible investors will give entrepreneurs more access to capital to grow their businesses.”
FTA has called for Congress to take action so more Americans can invest in private markets. Under current law, an individual must meet the accredited investor definition based on wealth and income levels and measures of financial sophistication to invest in a private company, limiting investment and wealth-building opportunities to a narrow group of people.
To learn more about expanding the definition of an accredited investor, read FTA’s issue brief, Just the Facts: Expanding Investment Access and Opportunity.
The Financial Technology Association (FTA) is a Washington, DC-based trade association representing industry leaders shaping the future of finance. We champion the power of technology-centered financial services and advocate for modernized financial regulation to support inclusion and innovation.