Bill · H.R. 145· House(119-HR-145)
Risk Disclosure and Investor Attestation Act
- Introduced
- 1/3/2025
- Last activity
- 1/3/2025 — Referred to the House Committee on Financial Services.
- Sponsored by
- Warren Davidson
- Cosponsors
- None
- Introduced
- In Committee
What this bill would do
This bill, known as the "Risk Disclosure and Investor Attestation Act," proposes amendments to the Securities Act of 1933. It aims to allow individuals to invest in private issuers by providing a formal attestation. Under this proposal, an individual would acknowledge that they understand the risks of such investments. The Securities and Exchange Commission would be responsible for creating a specific form for this purpose. This form must not exceed two pages in length.
Yes· 3 of 4
Would business owners be better off under this?+5
The bill allows private issuers to more easily solicit investments from individuals through a formal attestation process.
Does this make it easier to run a small business?+4
The bill facilitates access to private issuers which can provide capital to smaller, private companies.
Would high-income households be better off under this?+3
The bill expands investment opportunities in private markets which are often more lucrative for wealthy individuals.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
-
Investment Opportunities: The bill would permit an individual to invest in private issuers upon acknowledging the risks, which expands the types of investments available to them (Section 2(a)).
-
Streamlined Process: The requirement that the attestation form must not be longer than 2 pages ensures a concise acknowledgment process (Section 2(a)(5)).
Potential Negative Impacts for People
- Investment Risk: Individuals engaging in these investments would be doing so after acknowledging the risks associated with private issuers (Section 2(a)(5)).
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Demographic And Interest Groups
- Good For Business Owners+5Good For High Income Households+3
- Economy And Finance
- Improves Small Business Support+4
- Governance And Ideology
- Improves Government Transparency+1
- 1/3/2025
- Referred to the House Committee on Financial Services.
- Introduced in House