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SEC Adopts Amendments to the Definition of an Accredited Investor

On January 11, 2012 by Schnader

On December 21, 2011, the Securities and Exchange Commission (“SEC”) adopted amendments to the “accredited investor” definitions in Regulation D and Rule 215 under the Securities Act of 1933 (the “1933 Act”) to exclude the value of a person’s primary residence from the net worth calculation and clarify the treatment of borrowing secured by a primary residence for purposes of the net worth calculation. This Alert discusses the amendments and its effect on investors.

Click here to read the Alert.