HR 3394referred119th Congress

Fair Investment Opportunities for Professional Experts Act

Introduced May 14, 2025House billPolicy area: Finance and Financial SectorLast action Jun 24, 2025Sponsor: J. French Hill(R-AR)

financeFinance and Financial Sector

Banking, Housing, and Urban Affairs CommitteeFinancial Services Committee

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Official summaryUpdated Jun 24, 2025

What the bill does

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 bill also provides statutory authority for certain existing criteria for an accredited investor, including licensure or registration in good standing as a broker or investment adviser, specified annual salary, and specified net worth. Further, 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.

Latest official action

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Lobbying Filings

$3760.5M

Total Lobbying Spend

Suspicious Trades

Members Involved

Timeline

Apr 18, 2024lobbying

Lobbying filed by AIR TRANSPORT ASSOCIATION OF AMERICA, INC. (D/B/A AIRLINES FOR AMERICA)

Jul 18, 2024lobbying

Lobbying filed by AIR TRANSPORT ASSOCIATION OF AMERICA, INC. (D/B/A AIRLINES FOR AMERICA)

Oct 16, 2024lobbying

Lobbying filed by AIR TRANSPORT ASSOCIATION OF AMERICA, INC. (D/B/A AIRLINES FOR AMERICA)

Apr 8, 2025trade

Robert P. Bresnahan, Jr. bought K

Apr 8, 2025trade

Robert P. Bresnahan, Jr. bought K

Apr 29, 2025

Official Congressional Actions

Jun 24, 2025IntroReferral

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Banking, Housing, and Urban Affairs Committee

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Jun 23, 2025Floor

Considered as unfinished business. (consideration: CR H2878-2879)

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Jun 23, 2025Floor

At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.

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Jun 23, 2025Floor

DEBATE - The House proceeded with forty minutes of debate on H.R. 3394.

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Lobbying Activity

Registrant	Client	Amount	Filed	Period	Issues
CHAMBER OF COMMERCE OF THE U.S.A.	CHAMBER OF COMMERCE OF THE U.S.A.	$1934.0M	Jul 21, 2025	2025Q2	AERAUTAVI
SECURITIES INDUSTRY AND FINANCIAL MARKETS ASSOCIATION	SECURITIES INDUSTRY AND FINANCIAL MARKETS ASSOCIATION	$206.0M	Jul 17, 2025	2025Q2	BANCDTFIN

Suspicious Trading Activity

Congress members who traded stocks in companies connected to lobbying on this bill, within 90 days of its introduction date.

Member	Party	Ticker	Company	Trade	Date	Amount	Timing	Lobbying Client	Conflict
Gilbert Ray Cisneros, Jr.	D	K	K	Buy	Apr 29, 2025	$1,001 - $15,000	15d before	FRANKLIN RESOURCES, INC. (FRANKLIN TEMPLETON) AND AFFILIATES	36%
Gilbert Ray Cisneros, Jr.	D

Conflict Summary

8 trades by 2 members of Congress in companies connected to lobbying on HR 3394. The average conflict score is 29%.

Gilbert Ray Cisneros, Jr. (6 trades)Robert P. Bresnahan, Jr. (2 trades)

Votes on This Bill

Member	Party	Position	Date
Jake Auchincloss	D	yea	Jun 23, 2025
Mark E. Amodei	R	yea	Jun 23, 2025
Alma S. Adams	D	yea	Jun 23, 2025
Pete Aguilar	D	yea	Jun 23, 2025

Methodology: Bill-Lobbying-Trade Connection

CapitolExposed identifies the "bill-lobbying-trade pipeline" by: (1) finding lobbying filings (LD-2) that specifically mention this bill, (2) matching lobbying clients to publicly traded companies, and (3) finding stock trades by members of Congress in those companies within 90 days of the bill's introduction date. Trades made before the bill was introduced are highlighted in red, as they may indicate advance knowledge. This analysis surfaces correlations worthy of scrutiny; it does not prove wrongdoing.