Just In: SEC Proposed Rules Re Accredited Investor Definition
From the proposed rules:
In addition, our proposed amendments would add, after the Dodd-Frank statutory language, the phrase “calculated by subtracting from the estimated fair market value of the property the amount of debt secured by the property, up to the estimated fair market value of the property.” As so amended, the accredited investor net worth standards in the relevant rules would define as an accredited investor...
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