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Summaries and explanations of the latest regulatory compliance announcements, reports and related stories.
SEC Expands Accredited Investor Definition
The Securities and Exchange Commission (“SEC”) amended the accredited investor definition, allowing more investors to qualify to participate in private offerings. Formerly, to qualify as an “Accredited Investor,” an individual had to have a net worth greater than $1 million, annual income exceeding $200,000 for the past two years or $300,000 combined income (if married.)