---
kind: "diff"
citation: "H.R. 3339"
bill: "119-hr-3339"
heading: "Equal Opportunity for All Investors Act of 2025"
from: "ih"
from_label: "Introduced in House"
to: "rh"
to_label: "Reported in House"
sections_amended: 1
sections_added: 0
sections_removed: 0
url: "https://uscodex.org/bills/119/hr/3339/changes/rh"
---

# H.R. 3339 — what changed

H.R. 3339, Equal Opportunity for All Investors Act of 2025 — 1 section amended between Introduced in House and Reported in House.

Edits are marked `<del>struck</del>` and `<ins>inserted</ins>`.

## Sec. 2 Certification examinations for accredited investors

- (a) In general— The Commission shall revise the definition of “accredited investor” under Regulation D (section 230.500 et seq. of title 17, Code of Federal Regulations) to include any natural person who is certified through the examination required under subsection (b).
- (b) Establishment of examination— Not later than 1 year after the date of the enactment of this Act, the Commission shall establish an examination (including a test, certification, or examination program)—
  - (1) to certify an individual as an accredited investor; and
  - (2) that—
    - (A) is designed with an appropriate level of difficulty such that an individual with financial sophistication would be unlikely to fail; and
    - (B) includes methods to determine whether an individual seeking to be certified as an accredited investor demonstrates competency with respect to—
      - (i) the different types of securities;
      - (ii) the disclosure requirements under the securities laws applicable to issuers and offerings of securities exempt from registration under section 5 of the Securities Act of 1933 as compared to issuers and offerings of securities subject to such section 5;
      - (iii) corporate governance;
      - (iv) financial statements and the components of such statements;
      - (v) aspects of unregistered securities, securities issued by private companies, and investments into private funds, including risks associated with—
        - (I) limited liquidity;
        - (II) limited disclosures;
        - (III) subjectivity and variability in valuations and the analytical tools investors may use to assess such valuations;
        - (IV) information asymmetry;
        - (V) leverage risks;
        - (VI) concentration risk; and
        - (VII) longer investment horizons;
      - (vi) potential conflicts of interest, when the interests of financial professionals and their clients are misaligned or when their professional responsibilities may be in conflict with financial motivations; and
      - (vii) <ins>such </ins>other criteria <ins>as </ins>the Commission determines necessary or appropriate in the public interest or for the protection of investors.
- (c) Administration— Beginning not later than 180 days after the date the examination is established under subsection (b), such examination shall be administered and offered free of charge to the public by a registered national securities association under section 15A of the Securities Exchange Act of 1934 (15 U.S.C. 78o–3).
- (d) Commission defined— In this section, the term “Commission” means the Securities and Exchange Commission.