While it passed somewhat under the radar with the holiday season, on December 18, 2019 the Securities and Exchange Commission (“SEC”) released a proposal to significantly amend the existing “accredited investor” definition; which is integral in determining who can participate in private securities transactions. The proposal seeks to add several new categories of both qualifying individual and entity level investors. The proposal is currently in the 60-day comment period, however if enacted in substantively its current form the included amendments will open the floodgates to a ton of new, and in many cases deep-pocketed, potential investors.
Anthony J. Zeoli
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