Posted: February 3, 2016 | By: AIMkts Editors
In a 347-8 vote this week, the House of Representatives approved legislation that would expand the definition of an accredited investor and allow more individuals to buy unregistered securities.
Current rules require a person to have a net worth of $1 million, not including the value of a home, or make $200,000 or more annually.
The definition does not take into consideration education, experience or ability. Supporters of modifying the definition argue this disenfranchises millions of people capable of evaluating private placements.
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