The “accredited investor” definition, which has not changed significantly since its enactment almost 40 years ago, has been massively upgraded. On August 26, 2020 the Securities and Exchange Commission (“SEC”) adopted final amendments to the “accredited investor” definition which fundamentally change and broaden the qualification standards and increase access to investments in the private capital markets. These amendments are game changing and include both new, non-wealth based, categories for individuals as well as several new entity categories. Corresponding changes are also made to the “qualified institutional buyer” definition in Rule 144A. Learn more in this White Paper written by Freeborn Partner Anthony Zeoli.
