The SEC “Modernizes” the Accredited Investor Definition
In case you're just wondering what the changes to the rule are, they are roughly:<p>* The SEC can designate professional certifications from accredited institutions as a surrogate for wealth --- to begin with, FINRA Series 7, 65, and 82.<p>* Employees of investment funds can be accredited for purpose of investing in their employers fund.<p>* Firms that are SEC-registered investment advisors may now be accredited.<p>* To meet the individual standards of accreditation, households can pool wealth between spouses, regardless of whether both spouses are acquiring a security.<p>* LLCs with 5MM in assets are accredited, as are family offices with 5MM in assets.