The SEC has released a proposed amendment to the definition of an "accredited investor"
On December 18, 2019, the Securities and Exchange Commission released a proposed amendment to the definition of an “accredited investor” that would broaden the categories of qualifying persons and entities. The new categories are based on, among other things, professional knowledge, experience and/or certifications.
Accredited investor status is important because, under U.S. securities laws, accredited investors may participate in investment opportunities that are generally unavailable to the wider public, including investments in private companies and funds. Parallel Markets has put together a regulatory update to help you understand the impact this amendment may have on your business.
For more details, please check out our full regulatory update.
If you are still doing these accreditation checks in-house or using a third party service provider, now is the time to switch over to Parallel and let us handle that for you!
Disclaimer The information contained in this article is provided for informational purposes only and should not be construed as legal advice on any subject matter. You should not act or refrain from acting on the basis of any content included in this article without seeking legal or other professional advice.