Fair Investment Opportunities for Professional Experts Act
This bill expands the eligibility criteria for an accredited investor for purposes of participating in private offerings of securities to include an individual determined by the Securities and Exchange Commission (SEC) to have qualifying professional knowledge through educational or professional experience. (Certain unregistered securities may only be offered to accredited investors.)
The SEC is directed to revise the definition of accredited investor in Regulation D (which exempts certain offerings from SEC registration requirements) to conform to changes in this bill.