United States: Advisory Committee Will Consider Accredited Investor Definition

The SEC announced that at the December 17^th meeting of the Advisory Committee on Small and Emerging Companies, the group will focus on the definition of "accredited investor."  As we have written in prior posts, the Dodd-Frank Act requires that every four years the SEC consider the definition.  In addition, following the relaxation of the prohibition on general solicitation, consumer groups and state securities regulators have focused on the appropriateness of the definition.  The meeting is webcast on the SEC's site.  Here is the SEC's press release:

http://www.sec.gov/News/PressRelease/Detail/PressRelease/1370543680519#.VIsB5U10xjA

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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