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House Approves Fix for Accredited Investor Definition

February 9, 2016

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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Loreen M. Gilbert, CIMA, AIF, CRC, CLTC – President, WealthWise Financial Services
Blue Vault
July 6, 2016

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