The bill, S. 5121, aims to change how the term "accredited investor" is defined in the Securities Act of 1933 and the Dodd-Frank Act. It allows individuals with certain certifications, designations, or credentials approved by the Commission to qualify as accredited investors,...
Simple Explanation
The bill wants to change the rules about who can be a special kind of investor called an "accredited investor," letting people with approved badges or certificates join, if they show they know a lot about money. It also says these badges should be checked regularly to keep them up to date and make sure these investors are really good with money.