SEC Says Private Investor Standards May Be Out Of Date

Law360, New York (December 18, 2015, 5:42 PM EST) -- The U.S. Securities and Exchange Commission staff said on Friday that the criteria for who can participate in private securities transactions and similar deals as an “accredited investor” may need some updates, including a possible increase in the income and wealth levels that allow people to qualify.

The SEC staff report, produced as part of a mandatory review under the Dodd-Frank Act, said that the accredited investor definition has not been comprehensively reviewed since it was adopted in 1982, although some changes were made in 1988. The accredited investor standard determines who can invest in offerings that are exempted from registration...

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