SEC's Accredited Investor Rule Will Benefit Sovereign Wealth
By Steven Canner, Michelle Heisner and Ava Haghighi (October 6, 2020, 5:59 PM EDT) -- A proposal by the U.S. Securities and Exchange Commission to amend the definition of "accredited investor" in Rule 501(a) of Regulation D — one of the categories of investor to which an issuer can offer and sell securities that have not been registered under the U.S. Securities Act of 1933 — has made its way into a final rule.
This final rule, which amends the definition of accredited investor and will be effective sometime after Oct. 31, among other things, clarifies the guidance applicable to sovereign wealth funds and other statutorily-created foreign entities at one time provided on a case-by-case basis...
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