The joint trades emphasize that meaningfully expanding the pool of accredited investors while preserving appropriate investor protections would increase access to investment opportunities and foster capital formation. This expansion would ensure a broader demographic can participate in the financial growth and innovation of the U.S. economy.
The letter specifically applauds Chairman Hill for championing the Fair Investment Opportunities for Professional Experts Act, which passed the House during the 118th Congress. This legislation would allow individuals with certain licenses, relevant education, or job experience to qualify as accredited investors. The letter also highlights the Expanding Access to Capital Act, passed by the House on March 8, 2024. This package of capital formation legislation includes provisions to expand the accredited investor definition, including eligibility for individuals receiving individualized investment advice or recommendations from a qualified professional.
Joint Trades Letter Supports House Legislation to Expand Accredited Investor Definition
WASHINGTON, D.C. – The Financial Technology Association (FTA) joined a joint trades letter to Chairman French Hill expressing strong support for the Accredited Investor Definition Review Act to expand and simplify the accredited investor definition ahead of a House Financial Services Committee markup.
The joint trades emphasize that meaningfully expanding the pool of accredited investors while preserving appropriate investor protections would increase access to investment opportunities and foster capital formation. This expansion would ensure a broader demographic can participate in the financial growth and innovation of the U.S. economy.
The letter specifically applauds Chairman Hill for championing the Fair Investment Opportunities for Professional Experts Act, which passed the House during the 118th Congress. This legislation would allow individuals with certain licenses, relevant education, or job experience to qualify as accredited investors. The letter also highlights the Expanding Access to Capital Act, passed by the House on March 8, 2024. This package of capital formation legislation includes provisions to expand the accredited investor definition, including eligibility for individuals receiving individualized investment advice or recommendations from a qualified professional.
Read the full joint trades letter here.