H.R. 3394: Fair Investment Opportunities for Professional Experts Act

Bill · 119th Congress (2025–2026). Passed House, 23 Jun 2025. Introduced 14 May 2025.

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

Vote results

How each member voted

Senate

Not yet considered.

House

Yea (397): Harold Rogers (R-KY-5); Christopher H. Smith (R-NJ-4); Marcy Kaptur (D-OH-9); Nancy Pelosi (D-CA-11); Frank Pallone, Jr. (D-NJ-6); Richard E. Neal (D-MA-1); Rosa L. DeLauro (D-CT-3); Maxine Waters (D-CA-43); Sanford D. Bishop, Jr. (D-GA-2); Ken Calvert (R-CA-41); James E. Clyburn (D-SC-6); Robert C. "Bobby" Scott (D-VA-3); Nydia M. Velázquez (D-NY-7); Bennie G. Thompson (D-MS-2); Frank D. Lucas (R-OK-3); Lloyd Doggett (D-TX-37); Zoe Lofgren (D-CA-18); Robert B. Aderholt (R-AL-4); Danny K. Davis (D-IL-7); Diana DeGette (D-CO-1); Brad Sherman (D-CA-32); Adam Smith (D-WA-9); Gregory W. Meeks (D-NY-5); John B. Larson (D-CT-1); Janice D. Schakowsky (D-IL-9); Michael K. Simpson (R-ID-2); Mike Thompson (D-CA-4); Pete Sessions (R-TX-17); Sam Graves (R-MO-6); Rick Larsen (D-WA-2); Betty McCollum (D-MN-4); Stephen F. Lynch (D-MA-8); John R. Carter (R-TX-31); Tom Cole (R-OK-4); Mario Diaz-Balart (R-FL-26); Linda T. Sánchez (D-CA-38); Michael R. Turner (R-OH-10); Darrell Issa (R-CA-48); Emanuel Cleaver (D-MO-5); Jim Costa (D-CA-21); Henry Cuellar (D-TX-28); Virginia Foxx (R-NC-5); Al Green (D-TX-9); Michael T. McCaul (R-TX-10); Gwen Moore (D-WI-4); Debbie Wasserman Schultz (D-FL-25); Doris O. Matsui (D-CA-7); Gus M. Bilirakis (R-FL-12); Kathy Castor (D-FL-14); Yvette D. Clarke (D-NY-9); Steve Cohen (D-TN-9); Joe Courtney (D-CT-2); Henry C. "Hank" Johnson, Jr. (D-GA-4); Jim Jordan (R-OH-4); Adrian Smith (R-NE-3); Robert E. Latta (R-OH-5); Robert J. Wittman (R-VA-1); André Carson (D-IN-7); Steve Scalise (R-LA-1); Tim Walberg (R-MI-5); Brett Guthrie (R-KY-2); James A. Himes (D-CT-4); Tom McClintock (R-CA-5); Chellie Pingree (D-ME-1); Glenn Thompson (R-PA-15); Paul Tonko (D-NY-20); Mike Quigley (D-IL-5); Judy Chu (D-CA-28); John Garamendi (D-CA-8); Bill Foster (D-IL-11); Eric A. "Rick" Crawford (R-AR-1); Scott DesJarlais (R-TN-4); Charles J. "Chuck" Fleischmann (R-TN-3); Paul A. Gosar (R-AZ-9); H. Morgan Griffith (R-VA-9); Andy Harris (R-MD-1); Bill Huizenga (R-MI-4); William R. Keating (D-MA-9); Mike Kelly (R-PA-16); David Schweikert (R-AZ-1); Austin Scott (R-GA-8); Daniel Webster (R-FL-11); Steve Womack (R-AR-3); Kweisi Mfume (D-MD-7); Mark E. Amodei (R-NV-2); Suzanne Bonamici (D-OR-1); Suzan K. DelBene (D-WA-1); Thomas Massie (R-KY-4); Joaquin Castro (D-TX-20); Richard Hudson (R-NC-9); Jared Huffman (D-CA-2); Hakeem S. Jeffries (D-NY-8); David P. Joyce (R-OH-14); Grace Meng (D-NY-6); Scott Perry (R-PA-10); Scott H. Peters (D-CA-50); Mark Pocan (D-WI-2); Raul Ruiz (D-CA-25); Mark Takano (D-CA-39); Juan Vargas (D-CA-52); Marc A. Veasey (D-TX-33); Ann Wagner (R-MO-2); Randy K. Weber, Sr. (R-TX-14); Roger Williams (R-TX-25); Robin L. Kelly (D-IL-2); Jason Smith (R-MO-8); Katherine M. Clark (D-MA-5); Alma S. Adams (D-NC-12); Donald Norcross (D-NJ-1); Pete Aguilar (D-CA-33); Rick W. Allen (R-GA-12); Brian Babin (R-TX-36); Donald S. Beyer, Jr. (D-VA-8); Mike Bost (R-IL-12); Earl L. "Buddy" Carter (R-GA-1); Ed Case (D-HI-1); Mark DeSaulnier (D-CA-10); Debbie Dingell (D-MI-6); Tom Emmer (R-MN-6); Glenn Grothman (R-WI-6); J. French Hill (R-AR-2); Ted Lieu (D-CA-36); Barry Loudermilk (R-GA-11); John R. Moolenaar (R-MI-2); Seth Moulton (D-MA-6); Dan Newhouse (R-WA-4); Gary J. Palmer (R-AL-6); David Rouzer (R-NC-7); Elise M. Stefanik (R-NY-21); Norma J. Torres (D-CA-35); Bonnie Watson Coleman (D-NJ-12); Bruce Westerman (R-AR-4); Bradley Scott Schneider (D-IL-10); David G. Valadao (R-CA-22); Trent Kelly (R-MS-1); Darin LaHood (R-IL-16); James Comer (R-KY-1); Jodey C. Arrington (R-TX-19); Don Bacon (R-NE-2); Nanette Diaz Barragán (D-CA-44); Jack Bergman (R-MI-1); Andy Biggs (R-AZ-5); Salud O. Carbajal (D-CA-24); J. Luis Correa (D-CA-46); Neal P. Dunn (R-FL-2); Adriano Espaillat (D-NY-13); Brian K. Fitzpatrick (R-PA-1); Josh Gottheimer (D-NJ-5); Clay Higgins (R-LA-3); Steven Horsford (D-NV-4); Mike Johnson (R-LA-4); Ro Khanna (D-CA-17); Raja Krishnamoorthi (D-IL-8); David Kustoff (R-TN-8); Brian J. Mast (R-FL-21); Jimmy Panetta (D-CA-19); Jamie Raskin (D-MD-8); John H. Rutherford (R-FL-5); Lloyd Smucker (R-PA-11); Darren Soto (D-FL-9); Ron Estes (R-KS-4); Ralph Norman (R-SC-5); Jimmy Gomez (D-CA-34); Thomas R. Suozzi (D-NY-3); Michael Cloud (R-TX-27); Troy Balderson (R-OH-12); Kevin Hern (R-OK-1); Joseph D. Morelle (D-NY-25); Mary Gay Scanlon (D-PA-5); Marlin A. Stutzman (R-IN-3); James R. Baird (R-IN-4); Tim Burchett (R-TN-2); Sean Casten (D-IL-6); Ben Cline (R-VA-6); Angie Craig (D-MN-2); Dan Crenshaw (R-TX-2); Jason Crow (D-CO-6); Sharice Davids (D-KS-3); Madeleine Dean (D-PA-4); Veronica Escobar (D-TX-16); Lizzie Fletcher (D-TX-7); Russ Fulcher (R-ID-1); Sylvia R. Garcia (D-TX-29); Jared F. Golden (D-ME-2); Lance Gooden (R-TX-5); Michael Guest (R-MS-3); Josh Harder (D-CA-9); Jahana Hayes (D-CT-5); Chrissy Houlahan (D-PA-6); Dusty Johnson (R-SD-AL); John Joyce (R-PA-13); Susie Lee (D-NV-3); Mike Levin (D-CA-49); Lucy McBath (D-GA-6); Daniel Meuser (R-PA-9); Carol D. Miller (R-WV-1); Joe Neguse (D-CO-2); Chris Pappas (D-NH-1); Guy Reschenthaler (R-PA-14); John W. Rose (R-TN-6); Chip Roy (R-TX-21); Kim Schrier (D-WA-8); Pete Stauber (R-MN-8); Bryan Steil (R-WI-1); W. Gregory Steube (R-FL-17); Haley M. Stevens (D-MI-11); William R. Timmons IV (R-SC-4); Lori Trahan (D-MA-3); Lauren Underwood (D-IL-14); Jefferson Van Drew (R-NJ-2); Claudia Tenney (R-NY-24); Gregory F. Murphy (R-NC-3); Thomas P. Tiffany (R-WI-7); Ryan K. Zinke (R-MT-1); Jake Auchincloss (D-MA-4); Cliff Bentz (R-OR-2); Stephanie I. Bice (R-OK-5); Lauren Boebert (R-CO-4); Kat Cammack (R-FL-3); Andrew S. Clyde (R-GA-9); Byron Donalds (R-FL-19); Pat Fallon (R-TX-4); Randy Feenstra (R-IA-4); Cleo Fields (D-LA-6); Michelle Fischbach (R-MN-7); Scott Fitzgerald (R-WI-5); Scott Franklin (R-FL-18); Andrew R. Garbarino (R-NY-2); Carlos A. Gimenez (R-FL-28); Diana Harshbarger (R-TN-1); Ashley Hinson (R-IA-2); Ronny Jackson (R-TX-13); Sara Jacobs (D-CA-51); Young Kim (R-CA-40); Teresa Leger Fernandez (D-NM-3); Nancy Mace (R-SC-1); Nicole Malliotakis (R-NY-11); Tracey Mann (R-KS-1); Lisa C. McClain (R-MI-9); Mary E. Miller (R-IL-15); Mariannette Miller-Meeks (R-IA-1); Barry Moore (R-AL-1); Blake D. Moore (R-UT-1); Frank J. Mrvan (D-IN-1); Troy E. Nehls (R-TX-22); Jay Obernolte (R-CA-23); Burgess Owens (R-UT-4); August Pfluger (R-TX-11); Deborah K. Ross (D-NC-2); Victoria Spartz (R-IN-5); Marilyn Strickland (D-WA-10); Ritchie Torres (D-NY-15); Beth Van Duyne (R-TX-24); Nikema Williams (D-GA-5); Julia Letlow (R-LA-5); Troy A. Carter (D-LA-2); Melanie A. Stansbury (D-NM-1); Jake Ellzey (R-TX-6); Shontel M. Brown (D-OH-11); Mike Carey (R-OH-15); Mike Flood (R-NE-1); Brad Finstad (R-MN-1); Patrick Ryan (D-NY-18); Rudy Yakym III (R-IN-2); Mark Alford (R-MO-4); Becca Balint (D-VT-AL); Aaron Bean (R-FL-4); Nikki Budzinski (D-IL-13); Eric Burlison (R-MO-7); Juan Ciscomani (R-AZ-6); Gilbert Ray Cisneros, Jr. (D-CA-31); Mike Collins (R-GA-10); Elijah Crane (R-AZ-2); Jasmine Crockett (D-TX-30); Donald G. Davis (D-NC-1); Monica De La Cruz (R-TX-15); Christopher R. Deluzio (D-PA-17); Chuck Edwards (R-NC-11); Mike Ezell (R-MS-4); Valerie P. Foushee (D-NC-4); Russell Fry (R-SC-7); Robert Garcia (D-CA-42); Marie Gluesenkamp Perez (D-WA-3); Daniel S. Goldman (D-NY-10); Harriet M. Hageman (R-WY-AL); Erin Houchin (R-IN-9); Val T. Hoyle (D-OR-4); Glenn Ivey (D-MD-4); Jonathan L. Jackson (D-IL-1); Sydney Kamlager-Dove (D-CA-37); Thomas H. Kean, Jr. (R-NJ-7); Jennifer A. Kiggans (R-VA-2); Kevin Kiley (I-CA-3); Nick LaLota (R-NY-1); Greg Landsman (D-OH-1); Nicholas A. Langworthy (R-NY-23); Michael Lawler (R-NY-17); Laurel M. Lee (R-FL-15); Anna Paulina Luna (R-FL-13); Morgan Luttrell (R-TX-8); Seth Magaziner (D-RI-2); Richard McCormick (R-GA-7); Morgan McGarvey (D-KY-3); Robert Menendez (D-NJ-8); Max L. Miller (R-OH-7); Cory Mills (R-FL-7); Nathaniel Moran (R-TX-1); Jared Moskowitz (D-FL-23); Kevin Mullin (D-CA-15); Zachary Nunn (R-IA-3); Andrew Ogles (R-TN-5); Brittany Pettersen (D-CO-7); Andrea Salinas (D-OR-6); Hillary J. Scholten (D-MI-3); Keith Self (R-TX-3); Eric Sorensen (D-IL-17); Dale W. Strong (R-AL-5); Emilia Strong Sykes (D-OH-13); Shri Thanedar (D-MI-13); Jill N. Tokuda (D-HI-2); Derrick Van Orden (R-WI-3); Gabe Vasquez (D-NM-2); Jennifer L. McClellan (D-VA-4); Gabe Amo (D-RI-1); Celeste Maloy (R-UT-2); Timothy M. Kennedy (D-NY-26); Vince Fong (R-CA-20); Michael A. Rulli (R-OH-6); LaMonica McIver (D-NJ-10); Tony Wied (R-WI-8); Yassamin Ansari (D-AZ-3); Tom Barrett (R-MI-7); Michael Baumgartner (R-WA-5); Nicholas J. Begich III (R-AK-AL); Wesley Bell (D-MO-1); Sheri Biggs (R-SC-3); Robert P. Bresnahan, Jr. (R-PA-8); Janelle S. Bynum (D-OR-5); Herbert C. Conaway, Jr. (D-NJ-3); Jeff Crank (R-CO-5); Troy Downing (R-MT-2); Sarah Elfreth (D-MD-3); Gabe Evans (R-CO-8); Julie Fedorchak (R-ND-AL); Shomari Figures (D-AL-2); Laura Friedman (D-CA-30); Brandon Gill (R-TX-26); Laura Gillen (D-NY-4); Craig A. Goldman (R-TX-12); Maggie Goodlander (D-NH-2); Adam Gray (D-CA-13); Abraham J. Hamadeh (R-AZ-8); Mike Haridopolos (R-FL-8); Pat Harrigan (R-NC-10); Mark Harris (R-NC-8); Jeff Hurd (R-CO-3); Brian Jack (R-GA-3); Julie Johnson (D-TX-32); Mike Kennedy (R-UT-3); Brad Knott (R-NC-13); George Latimer (D-NY-16); Sam T. Liccardo (D-CA-16); Ryan Mackenzie (R-PA-7); John W. Mannion (D-NY-22); Sarah McBride (D-DE-AL); April McClain Delaney (D-MD-6); Kristen McDonald Rivet (D-MI-8); Addison P. McDowell (R-NC-6); John J. McGuire III (R-VA-5); Mark B. Messmer (R-IN-8); Dave Min (D-CA-47); Riley M. Moore (R-WV-2); Tim Moore (R-NC-14); Kelly Morrison (D-MN-3); Johnny Olszewski, Jr. (D-MD-2); Robert F. Onder, Jr. (R-MO-3); Nellie Pou (D-NJ-9); Emily Randall (D-WA-6); Josh Riley (D-NY-19); Luz M. Rivas (D-CA-29); Derek Schmidt (R-KS-2); Jefferson Shreve (R-IN-6); Lateefah Simon (D-CA-12); Suhas Subramanyam (D-VA-10); David J. Taylor (R-OH-2); Derek Tran (D-CA-45); Eugene Simon Vindman (D-VA-7); George Whitesides (D-CA-27); Randy Fine (R-FL-6); Jimmy Patronis (R-FL-1); David Scott (D-GA-13); Eric Swalwell (D-CA-14); Doug LaMalfa (R-CA-1); Mark E. Green (R-TN-7); Tony Gonzales (R-TX-23); Marjorie Taylor Greene (R-GA-14); Sheila Cherfilus-McCormick (D-FL-20).

Nay (12): James P. McGovern (D-MA-2); Pramila Jayapal (D-WA-7); Jesús G. "Chuy" García (D-IL-4); Alexandria Ocasio-Cortez (D-NY-14); Ilhan Omar (D-MN-5); Ayanna Pressley (D-MA-7); Rashida Tlaib (D-MI-12); Greg Casar (D-TX-35); Maxwell Frost (D-FL-10); Summer L. Lee (D-PA-12); Delia C. Ramirez (D-IL-3); Maxine Dexter (D-OR-3).

Not voting (23): Steny H. Hoyer (D-MD-5); Jerrold Nadler (D-NY-12); Joe Wilson (R-SC-2); Mike Rogers (R-AL-3); Vern Buchanan (R-FL-16); Terri A. Sewell (D-AL-7); Frederica S. Wilson (D-FL-24); Dina Titus (D-NV-1); Andy Barr (R-KY-6); Joyce Beatty (D-OH-3); Ami Bera (D-CA-6); Julia Brownley (D-CA-26); Lois Frankel (D-FL-22); Brendan F. Boyle (D-PA-2); Warren Davidson (R-OH-8); Dwight Evans (D-PA-3); Vicente Gonzalez (D-TX-34); Greg Stanton (D-AZ-4); Maria Elvira Salazar (R-FL-27); Josh Brecheen (R-OK-2); Wesley Hunt (R-TX-38); John James (R-MI-10); Mikie Sherrill (D-NJ-11).

Not in office (13): James R. Walkinshaw (D-VA-11); Adelita S. Grijalva (D-AZ-7); Matt Van Epps (R-TN-7); Christian D. Menefee (D-TX-18); Clay Fuller (R-GA-14); Analilia Mejia (D-NJ-11); James Gallagher (R-CA-1); Everton Blair Jr. (D-GA-13); Aisha Wahab (D-CA-14); Raúl M. Grijalva (D-AZ-7); Gerald E. Connolly (D-VA-11); Michael Waltz (R-FL-6); Sylvester Turner (D-TX-18).

Summary

Main subject: Amends the Securities Act of 1933 to write into the statute the definition of an accredited investor, including several criteria for natural persons, and directs the Securities and Exchange Commission to conform Regulation D. Sec. 2

Its core areas: Accredited investor definition under the Securities Act of 1933; Securities and Exchange Commission rulemaking on Regulation D.

Unexpected Items: 0 provisions

What it does

Written automatically from the official text by Claude Sonnet 5.5, an AI model. Written 29 Sep 2026 and published after the automatic checks, without a person reading it first. Every line names the section it came from.

Sources