OFFICIALS LEGISLATION INTEREST GROUPS PUBLIC STATEMENTS COMMITTEES VETOES

Equal Opportunity for All Investors Act of 2023

Floor Speech

Date: May 30, 2023
Location: Washington, DC

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Mr. FLOOD. Mr. Speaker, I thank the gentlewoman from Missouri for yielding.

Mr. Speaker, the Equal Opportunity for All Investors Act of 2023 will give Americans new opportunities to grow their wealth and savings. I also thank Chairman McHenry, Chairwoman Wagner, Ranking Member Waters, and my Democratic co-lead Wiley Nickel for their support of my bill.

This legislation expands the accredited investor definition to include individuals that are certified, as you have heard today, through an exam written by the SEC and administered by FINRA. It is my firm belief that the accredited investor definition should not be tied exclusively to wealth. Instead, we should unlock opportunities for knowledgeable investors that may not come from means. This bill strikes an effective balance. It brings more investors into the accredited investor pool but also contains guardrails that would filter out individuals that do not fully understand private offerings and the investment risks associated with them.

We have legislation today that would make for a thorough but fair examination for investors that want to become accredited investors.

Mr. Speaker, I urge my colleagues to support my bill.

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