The Securities and Exchange Commission (SEC)’s Investor Advisory Committee has recommended changes to the definition of accredited investor that consider other ways of measuring financial sophistication.
In a public statement released Wednesday, the SEC indicated that time is ripe for the SEC to review the appropriate conditions for determining whether someone is or isn’t an “accredited investor”.
SEC: Exemption from registration requirements
The current definition of “accredited investor” attempts to identify those individuals who are anticipated to be able to fend for themselves and protect their interests when...