SEC Adopts Changes to Definition of ‘Accredited Investor’

Saint Louis, MO., Sept. 15, 2020 - On August 26th, the U.S. Securities and Exchange Commission (“SEC”) amended, or perhaps better said, broadly expanded its definition of individuals and organizations that will now qualify as an accredited investor. The new, and much more inclusive amendment to Rule 501(a) of the Securities Act, is set to take effect later this year. While the new changes will now qualify such natural persons as “knowledgeable employees” of a private fund and/or financial professionals holding certain securities licenses (e.g. – Series 7, 65 and 82), one of the more notable amendments for retail investors will be the addition of “spousal equivalents” wherein a “cohabitant oc

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