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