Bill · S. 3671· Senate(119-S-3671)
Increasing Investor Opportunities Act
- Introduced
- 1/15/2026
- Last activity
- 1/15/2026 — Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Sponsored by
- Steve Daines
- Cosponsors
- - 2 - 0
- Introduced
- In Committee
What this bill would do
This bill, titled the "Increasing Investor Opportunities Act," aims to amend the Investment Company Act of 1940. It focuses on changing the authority of closed-end companies regarding their ability to invest in private funds. Specifically, it seeks to prevent the Commission from prohibiting or limiting these companies from investing their assets in securities issued by private funds. The legislation also addresses how national securities exchanges treat the listing and trading of these companies' securities. Additionally, it applies these rules to certain closed-end companies that elect to be treated as business development companies.
Yes
Would high-income households be better off under this?+4
The expansion of private fund investment opportunities through closed-end companies typically benefits high-income individuals who utilize these investment vehicles.
Would business owners be better off under this?+3
The bill facilitates more flexible investment structures for companies that may serve as significant sources of capital for business owners.
Does this make it easier to run a small business?+3
The bill expands investment authorities for closed-end companies and business development companies, which can provide more capital access to various ventures.
The opposite
Does this give people more protection from unfair business practices?-4
The bill limits the SEC's ability to prohibit or restrict closed-end companies from investing in private funds, which may reduce regulatory oversight of consumer investments.
Does this make what the government does easier for the public to see?-2
By restricting the SEC's ability to impose certain conditions on investments in private funds, the bill may reduce the level of regulatory transparency for those investments.
Who it would affect, and how
Potential Positive Impacts for People
-
Expanded Investment Authority: Under Section 2(a)(1), the Commission may not prohibit or limit a closed-end company from investing any or all of its assets in securities issued by private funds. This could provide more ways for these companies to utilize their assets.
-
Increased Listing Opportunities: Section 2(a)(2)(B) prevents the Commission from restricting the listing of securities of a closed-end company on a national securities exchange when that company invests in private funds. This could make it easier for these companies to be traded on exchanges.
-
Market Accessibility: Section 2(c)(1) states that a national securities exchange may not prohibit, condition, or restrict the listing or trading of the securities of a closed-end company that invests in private funds. This could facilitate more movement for these types of securities in the market.
Potential Negative Impacts for People
-
Limited Commission Oversight: Section 2(a)(1) and Section 2(a)(2) limit the ability of the Commission to prohibit, limit, or impose conditions on closed-end companies investing in private funds. This could reduce the Commission's ability to regulate these specific investment activities.
-
Restricted Regulatory Intervention: Section 2(a)(3) states that the Commission may only impose conditions or restrictions if they are related to the underlying characteristics of a private fund or its status. This limits the types of restrictions the Commission can implement regarding these investments.
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 High Income Households+4Good For Business Owners+3
- Governance And Ideology
- Improves Government Transparency-2
- Economy And Finance
- Improves Small Business Support+3Improves Consumer Protection-4
- 8/4/2026
- 1 Cosponsor added.
- 1/15/2026
- Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- 1 Cosponsor added.
- Introduced in Senate
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.
David McCormickRepublican · Pennsylvania
Mike RoundsRepublican · South Dakota