Law360, New York (May 27, 2016, 4:47 PM EDT) -- As the U.S. Securities and Exchange Commission considers revising the definition of an accredited investor — the decades-old, nearly untouched financial criteria that determines eligibility to participate in private placements — deals lawyers say regulators must resist anything that disturbs the increasingly robust private offerings market and aim for broader flexibility instead.
The SEC in 1982 established income and wealth guidelines regulating who can invest in private placements under its Regulation D framework, which remains mostly unchanged. Now mandated under the Dodd-Frank law to review that definition every four years, the SEC has floated options to update its standards that include...
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