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  By challenging the accredited investor rule on constitutional grounds, we are not just asking for a policy fix—we are seeking to establish guardrails that ensure regulators can never again impose arbitrary wealth and income tests that strip most Americans of equal access to economic opportunity.

The Investor Choice Advocates Network (ICAN), a nonprofit public interest law firm, announced today the filing of a major constitutional challenge to the Securities and Exchange Commission’s “accredited investor” rule. The case spotlights two plaintiffs whose stories underscore how this arbitrary wealth and income test harms both inveopportunity for the wealthy Proposed legislation would entrench outdated wealth-based barriers, limiting investor access and undermining needed

Now we are helping Ray fight one more SEC injustice: a professional bar that only ends when the SEC says it does, even though his “right to apply for reentry” began seven years ago. The SEC’s process for lifting bars is full of Catch-22 requirements, procedural traps for the unwary, and other impediments that make the right to apply for reentry “illusory” in the words of one former SEC Commissioner. We are fighting to change that.

ICAN Applauds House Passage of H.R. 3339, the Equal Opportunity for All Investors Act of 2025 Proposed legislation would entrench outdated wealth-based barriers, limiting investor access and undermining needed reform, ICAN warns.