The Informed Investor Access Act expands who qualifies as an "accredited investor" under federal securities law. Currently, accredited investors are primarily high-income or high-net-worth individuals who can invest in private offerings and other restricted securities. This bill adds a new category: individuals who receive personalized investment advice or recommendations from registered investment advisers, registered brokers or dealers, or their representatives, regardless of their income or net worth. The change allows ordinary investors receiving professional guidance to access the same investment opportunities previously limited to wealthy investors. The Securities and Exchange Commission is required to update its regulations to reflect this expanded definition, and the bill does not specify any funding or implementation timeline beyond requiring the SEC to make these regulatory changes.
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