SEC Making ‘Real Progress’ on Accredited Investor Definition Changes: White

The SEC’s Investor Advisory Committee on Thursday recommended five updates to the Commission’s decades-old accredited investor definition, including a provision to allow investors to qualify based on their “financial sophistication” and not just their net worth. Barbara Roper, who heads the advisory committee’s Investor as Purchaser Subcommittee, said during the Committee’s meeting held at SEC headquarters in Washington that the recommendations include “several significant changes” from those discussed at the Investor Advisory Committee’s July 10 meeting. More on Think Advisor here.