OFFICIALS LEGISLATION INTEREST GROUPS PUBLIC STATEMENTS COMMITTEES VETOES

Equal Opportunity for All Investors Act of 2023

Floor Speech

Date: June 6, 2023
Location: Washington, DC

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Mr. FLOOD. Mr. Speaker, H.R. 2797 (Equal Opportunity for All Investors Act of 2023) would require the SEC to establish an examination to certify specified individuals as accredited investors. The Act further states that the examination shall be administered and offered free of charge to the public by a registered national securities association, such as FINRA. The sponsors of the legislation do not intend to create an unfunded mandate for FINRA or any other national securities association to administer this examination. While the Act would require the examination to be administered and offered to the public free of charge, the sponsors acknowledge that FINRA or any other national securities association may recover administrative costs in other ways, including a contract with the Securities and Exchange Commission that includes fee for services.

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