SEC, in Split Vote, Expands Accredited Investor Definition, Paving Way for More Investors to Access Private Capital Markets
August 28, 2020
Authored by: Vicki Westerhaus and R. Randall Wang
The SEC adopted amendments on August 26, 2020 by a 3-2 vote, to expand the definition of “accredited investor,” paving the way for certain financially sophisticated institutional and individual investors to participate in private capital market offerings. The SEC release notably invited members of the public to propose to the Commission additional specific certifications, designations, degrees, or programs of study that should qualify someone to be an accredited investor.
Click here to read the Alert in full.