Dodd-Frank Financial Reform Changes Definition of "Accredited Investor"

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The Dodd-Frank Wall Street Reform and Consumer Protection Act has changed the definition of "accredited investor" to provide that the total net worth of individual investors now excludes the value of that person's primary residence. This change is very important for businesses wishing to raise money through private placements of securities.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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