SEC Proposes New Anti-Fraud Rule & Changes to the Definition of "Accredited Investor" for Private Investment Vehicles

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The Securities and Exchange Commission (the “SEC”) recently released for public comment proposed new rules aimed at providing additional investor protections for investors in pooled investment vehicles. The proposed new rules would (i) prohibit advisers to pooled investment vehicles from making false and misleading statements or otherwise defrauding investors or prospective investors in such vehicles, and (ii) revise the definition of “accredited investor” as it relates to individual investors.[1]

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Morrison & Foerster LLP on:

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