Informed Investor Access Act
Sponsored By: Representative Downing, Troy [R-MT-2]
Introduced
Summary
Expands who counts as an accredited investor. This bill would add a new category that lets any natural person an issuer reasonably believes is receiving personalized investment advice or personalized recommendations for the applicable transaction from a registered investment adviser or from a registered broker qualify as an accredited investor.
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- Families and individual investors: More people could gain access to private securities offerings when they receive personalized advice from a registered investment adviser or a registered broker.
- Issuers and fundraisers: Issuers could treat more buyers as accredited based on their reasonable belief about a buyer's access to professional advice, potentially widening the pool for private capital.
- Registered investment advisers and brokers: Advice or recommendations from these professionals would create a clear path for clients to meet accredited investor criteria for a specific transaction.
- Securities and Exchange Commission: The bill would direct the SEC to revise the accredited investor rule and any related definitions to reflect this new category.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
More private deal access for investors
If enacted, this bill would expand who counts as an accredited investor for private securities deals. You would be treated as accredited if an issuer reasonably believes you received personalized investment advice or a personalized recommendation for that transaction from a registered investment adviser (or their supervised person) or from a registered broker or dealer (or their associated person). The Securities and Exchange Commission would be directed to update 17 C.F.R. 230.501(a) and any other Commission rules that define "accredited investor" to match the new legal wording. If passed, more natural persons could become eligible to participate in some private offerings when these conditions are met.
Sponsors & CoSponsors
Sponsor
Downing, Troy [R-MT-2]
MT • R
Cosponsors
Rep. Lawler, Michael [R-NY-17]
NY • R
Sponsored 7/2/2026
Rep. Moore, Tim [R-NC-14]
NC • R
Sponsored 7/2/2026
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov