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Accredited Investors › Financial Regulatory Reform

Accredited Investors are a class of investors whose purchases are exempt from certain SEC registration requirements. Rule 501 of Regulation D lists eight categories of investors that qualify as accredited... more +
Accredited Investors are a class of investors whose purchases are exempt from certain SEC registration requirements. Rule 501 of Regulation D lists eight categories of investors that qualify as accredited investors.  less -
Dorsey & Whitney LLP

SEC Issues Report on its Review of the Accredited Investor Definition

Dorsey & Whitney LLP on

On December 14, 2023, the SEC published its review (“Review”) of the accredited investor definition. Section 413(b)(2)(A) of the Dodd-Frank Wall Street Reform and Consumer Protection Act requires the SEC to review the...more

Mayer Brown Free Writings + Perspectives

Investor Status and Accredited Investor and QIB Resources

Mayer Brown Free Writings + Perspectives on

Recently, the US Securities and Exchange Commission (“SEC”) adopted amendments to the definition of accredited investor (“AI”) and amendments to the definition of Qualified Institutional Buyer (“QIB”).  Our updated investor...more

Farrell Fritz, P.C.

Relief for Pre-Verified Accredited Investors May Encourage Rule 506(c) Offerings

Farrell Fritz, P.C. on

It’s pretty common for issuers in follow-on offerings to solicit investors from previous rounds first.  Indeed, doing so is often mandatory when early investors have preemptive rights. ...more

Farrell Fritz, P.C.

Strict Traffic Rules for New Crowdfunding Vehicles – Part Three of Exempt Offering Amendments Deeper Dive

Farrell Fritz, P.C. on

You just raised $1 million in your crowdfunding offering under Title III/Regulation CF.  That’s the good news.  The bad news?  You now have over a thousand shareholders on your cap table, making it unwieldy, an administrative...more

Morgan Lewis

SEC Adopts Amendments to Accredited Investor Definition

Morgan Lewis on

The Securities and Exchange Commission (SEC) on August 26 adopted amendments (Amendments) to the “accredited investor” definition, which is one of the principal tests for determining who is eligible to participate in certain...more

Jones Day

SEC Expands Accredited Investor and Qualified Institutional Buyer Categories

Jones Day on

The Situation: The term "accredited investor" under the Securities Act of 1933 ("Securities Act") is used to establish the eligibility of investors to participate in offerings conducted under the most frequently used private...more

Hogan Lovells

More investors to be accredited under amended SEC rules

Hogan Lovells on

On August 26, the SEC amended its rules under the Securities Act of 1933 to expand the definition of “accredited investor” used for determining eligibility to invest in certain securities offerings exempt from Securities Act...more

Troutman Pepper

SEC's New "Accredited Investor" and "QIB" Definitions May Expand Potential Private Fund Investor Pool

Troutman Pepper on

In light of recent amendments adopted by the U.S. Securities and Exchange Commission (the SEC), the pool of potential investors for private fund managers may be expanding. ...more

Sullivan & Worcester

SEC Amends Definitions of "Accredited Investor" and "Qualified Institutional Buyer"

Sullivan & Worcester on

The Securities and Exchange Commission has adopted amendments to its current rules under the Securities Act of 1933 relating to the definitions of an "accredited investor" and a "qualified institutional buyer." The amendments...more

Ballard Spahr LLP

SEC Broadens ‘Accredited Investor’ Definition to Give More Investors Access to Private Offerings

Ballard Spahr LLP on

The Securities and Exchange Commission voted 3-2 last week to adopt amendments to the “accredited investor” definition, one of the tests the SEC uses to determine eligibility to invest in unregistered private offerings of...more

Kramer Levin Naftalis & Frankel LLP

SEC Adopts Amendments to Definitions of ‘Accredited Investor’ and ‘Qualified Institutional Buyer’

Kramer Levin Naftalis & Frankel LLP on

On Aug. 26, the Securities and Exchange Commission adopted amendments to the definitions of “accredited investor” and “qualified institutional buyer.” ...more

Neal, Gerber & Eisenberg LLP

New Accredited Investor Rules Will Expand Eligibility for Private Fund Investments

Neal, Gerber & Eisenberg LLP on

On August 26, 2020, the SEC adopted several changes to expand the definition of an “accredited investor.” For the first time, a new category will enable natural persons to qualify as accredited investors based upon their...more

Allen Matkins

Securities & Exchange Commission Modernizes The Definition Of "Accredited Investor"

Allen Matkins on

On August 26, 2020, the Securities and Exchange Commission (the SEC) adopted modernizing amendments to the definition of “accredited investor” in Rule 501(a) of Regulation D (Rule 501(a)) to add new categories of qualifying...more

Lowndes

SEC Amends “Accredited Investor” Definition

Lowndes on

On Wednesday, the Securities and Exchange Commission (“SEC”) adopted several amendments to the definition of “accredited investor.” The amendments are intended to improve the definition of “accredited investor” to more...more

Hogan Lovells

SEC amends rules to expand on definition of "accredited investor"

Hogan Lovells on

The U.S. Securities and Exchange Commission (SEC) adopted amendments on Wednesday, August 26 to several rules under the U.S. Securities Act of 1933 (Securities Act) to modernize, expand, and clarify the definition of...more

Cozen O'Connor

SEC Expands the Definition of Accredited Investor

Cozen O'Connor on

On August 26, 2020, the Securities and Exchange Commission (SEC), by a 3-to-2 vote, adopted amendments to the definition of “accredited investor” in Rule 501(a) of Regulation D under the Securities Act of 1933, as amended...more

Stinson - Corporate & Securities Law Blog

Changes to Subscription Agreements as a Result of Revised Accredited Investor Definition

Stinson - Corporate & Securities Law Blog on

As we noted here, the SEC has expanded the definition of accredited investor. This means many forms of subscription agreements may need to be updated. No two agreements are exactly alike, but we have updated one form we use....more

Stinson LLP

SEC Expands Accredited Investor Definition

Stinson LLP on

On August 26, the Securities and Exchange Commission (SEC) adopted rules to expand the categories of natural persons that may qualify as “accredited investors” under the Securities Act to include persons with certain...more

Cadwalader, Wickersham & Taft LLP

SEC Adopts Rule Amendments Designed to Expand Access to Private Investment Opportunities

Cadwalader, Wickersham & Taft LLP on

On August 26, 2020, by a 3-2 vote, the Securities and Exchange Commission (the “SEC”) adopted rule changes that generally expand the scope of the definitions of “accredited investor” in Rule 501(a) of Regulation D and of...more

Mayer Brown Free Writings + Perspectives

Amendments to the Accredited Investor Definition

Mayer Brown Free Writings + Perspectives on

Today, the Securities and Exchange Commission adopted long-awaited changes to the definition of “accredited investor,” as well as some conforming changes to the definition of “qualified institutional buyer.”  ...more

Cadwalader, Wickersham & Taft LLP

SEC Proposes Rule Amendments Designed to Expand Access to Private Investment Opportunities

Cadwalader, Wickersham & Taft LLP on

By a 3-2 vote, the Securities and Exchange Commission (the “SEC”) approved the publication of a release on December 18, 2019, generally expanding the scope of the definitions of “accredited investor” in Rule 501(a) of...more

Farrell Fritz, P.C.

Proposed Expansion of “Accredited Investor” Definition Would Benefit Issuers and Investors

Farrell Fritz, P.C. on

The Securities and Exchange Commission is proposing to expand the definition of “accredited investor” to include additional entities that could bear the economic risks of investment and certain financially sophisticated...more

A&O Shearman

SEC Proposes to Update Accredited Investor Definition to Increase Access to Private Investments

A&O Shearman on

In a December 18, 2019 release, the U.S. Securities and Exchange Commission proposed to amend the definition of “accredited investor” in Rule 501 of Regulation D and the definition of “qualified institutional buyer” in Rule...more

Foley Hoag LLP - Public Companies & the Law

Highlights of the Recent SEC Proposal to Update the Accredited Investor Definition

Foley Hoag LLP - Public Companies & the Law on

The holidays came early in Washington, as on December 18, 2019, the Securities and Exchange Commission (SEC) gave investors the gift of a proposal to expand the definitions of “accredited investor” and “qualified...more

Sullivan & Worcester

SEC Proposes Amendments to Definitions of “Accredited Investor” and “Qualified Institutional Buyer”

Sullivan & Worcester on

The U.S. Securities and Exchange Commission (the "SEC") proposed on December 18, 2019 amendments to, among other things, its current rules under the Securities Act of 1933 (the "Securities Act") relating to the definitions of...more

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