,i  #aai? ,,congress  #a/ ,session  ,h4 
,r4 #ccdh  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,may #ac1 #bjbe,mr4   
,huiz5ga introduc$ ! foll[+ bill2 :i* 0 
ref]r$ to ! ,committee on ,f9ancial     
,s]vices  ,a ,,bill  ,to am5d !         
,securities ,act ( #aicc & !            
,dodd-,frank ,wall ,/reet ,re=m &       
,consum] ,protection ,act ) respect to !
 def9ition ( accr$it$ inve/or1 & = o!r  
purposes4  #a4 ,%ort title ,?is ,act may
 be cit$ z ! ,accr$it$ ,inve/or         
,def9ition ,review ,act4  #b4           
,c]tifications1 designations1 &         
cr$5tials "u ! def9ition ( accr$it$     
inve/or ,section #b7;a77#ae7 ( !        
,securities ,act ( #aicc 7#ae ,u4,s4,c4 
#gg;b7a77#ae77 is am5d$-- 7#a7 by       
r$esignat+ clauses 7i7 & 7ii7 z         
subp>agraphs 7,a7 & 7,b71 respectively2 
7#b7 9 subp>agraph 7,a71 z s r$esignat$1
 by /rik+ advis]2 or & ins]t+ advis]22  
7#c7 9 subp>agraph 7,b71 z s r$esignat$1
 by /rik+ ! p]iod at ! end & ins]t+ 2   
or2 &  7#d7 by add+ at ! end ! foll[+3  

7,c7 an individual hold+ su*            
c]tifications1 designations1 or         
cr$5tials z ! ,commission det]m9es      
necess>y or appropriate 9 ! public      
int]e/ or = ! protection ( inve/ors1    
:]e-- 7i7 su* li/ ( c]tifications1      
designations1 or cr$5tials %all include 
^? pr(essional c]tifications describ$ 9 
! ord] ( ! ,commission titl$ ,ord]      
,designat+ ,c]ta9 ,pr(essional ,lic5ses 
z ,qualify+ ,natural ,p]sons = ,accr$it$
 ,inve/or ,/atus 7#he ,f$4 ,reg4 #fdbcd2
 publi%$ ,octob] #i1 #bjbj72 &  7ii7 9  
e/abli%+ :i* attributes %\ld be consid]$
 = purposes ( det]m9+ su* c]tifications1
 designations1 or cr$5tials1 !          
,commission %all consid] attributes t   
are no less broad ?an ^? attributes     
describ$ 9 ! am5dm5ts made to section   
#bcj4eja7;a77#aj7 ( title #ag1 ,code (  
,f$]al ,regulations1 by ! f9al rule ( ! 
,commission titl$ ,accr$it$ ,inve/or    
,def9ition 7#he ,f$4 ,reg4 #fdbcd2      
publi%$ ,octob] #i1 #bjbj74  4  #c4     
,p]iodic review ( c]tifications1        

designations1 & cr$5tials ,section      
#dac7;b7 ( ! ,dodd-,frank ,wall ,/reet  
,re=m & ,consum] ,protection ,act 7#ae  
,u4,s4,c4 #gg;b note7 is am5d$ by add+  
at ! end ! foll[+3  7#c7 ,p]iodic review
 ( c]tifications1 designations1 &       
cr$5tials ,n lat] ?an #ah mon?s aft] !  
date ( ! enactm5t ( ?is p>agraph & n    
less frequ5tly ?an once e #e ye>s       
!reaft]1 ! ,commission %all-- 7,a7      
review ! li/ ( c]tifications1           
designations1 & cr$5tials designat$ z   
qualify+ natural p]sons = accr$it$      
inve/or /atus pursuant to ,rule         
#eja7;a77#aj7 7#ag ,,cfr                
#bcj4eja7;a77#aj772  7,b7 add su*       
c]tifications1 designations1 & cr$5tials
 to su* li/ z ! ,commission det]m9es are
 sub/antially simil> 9 measur+ !        
f9ancial sophi/ication1 k1 & exp]i5ce 9 
f9ancial matt]s ( an individual to !    
c]tifications1 designations1 & cr$5tials
 includ$ on su* li/ at ! "t ( su*       
review2 &  7,c7 adju/ or modify su* li/ 
z ! ,commission det]m9es necess>y or    

appropriate 9 ! public int]e/ or = !    
protection ( inve/ors4  4