SEC's Final Accredited Investor Rule Vs. Public Suggestions
Law360 (November 4, 2020, 4:01 PM EST) -- On Aug. 26, the U.S. Securities and Exchange Commission published amendments updating the definition of "accredited investor" in Rule 215 and Rule 501(a) of Regulation D under the Securities Act, with the amendments scheduled to become effective on Dec. 8.
For many years commenters and staff at the SEC have debated and analyzed the usefulness of using wealth, through specific income and net-worth benchmarks, as the definitive proxy for determining accredited investor status.
Moreover, in a June 2019 concept release, the SEC solicited public comment on ways "to simplify, harmonize, and improve the exempt offering framework to promote capital formation and...
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