Accredited Investor Self-Certification Act
This bill expands who may be considered an accredited investor for purposes of participating in private offerings of securities. Certain unregistered securities may only be offered to accredited investors.
Specifically, the bill allows an individual to qualify by certifying to the issuer of securities that the individual understands the risks of investment in private issuers. Currently, accredited investors must satisfy certain requirements indicating their reduced exposure to financial risk, including those related to income, net worth, or knowledge and experience.
To amend the Securities Act of 1933 to permit individuals to self-
       certify as an accredited investor, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Accredited Investor Self-
Certification Act''.

SEC. 2. ACCREDITED INVESTOR SELF-CERTIFICATION.

    (a) In General.--Section 2(a)(15) of the Securities Act of 1933 
(77b(a)(15)) is amended--
            (1) by redesignating clause (i) as subparagraph (A);
            (2) in subparagraph (A), as so redesignated, by striking 
        ``or'' at the end;
            (3) by redesignating clause (ii) as subparagraph (B);
            (4) in subparagraph (B), as so redesignated, by striking 
        the period at the end and inserting ``; and''; and
            (5) by adding at the end the following:
                    ``(C) with respect to an issuer, any individual 
                that has self-certified to the issuer that the 
                individual understands the risks of investment in 
                private issuers, using such form as the Commission 
                shall establish, by rule, but which form may not be 
                longer than 2 pages in length.''.
    (b) Rulemaking.--Not later than the end of the 1-year period 
beginning on the date of enactment of this Act, the Securities and 
Exchange Commission shall issue rules to carry out the amendments made 
by subsection (a), including establishing the form required under such 
amendments.
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Accredited Investor Self-Certification Act
To amend the Securities Act of 1933 to permit individuals to self-certify as an accredited investor, and for other purposes.
Accredited Investor Self-Certification Act
Rep. Davidson, Warren