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In the Dodd-Frank Act passed last year, Congress required that an individual's primary residence be excluded from the $1million net worth test for acc...
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Rule Change Could Require Closer Adherence to Rule 701 Limits
The US Securities and Exchange Commission has adopted a final rule implementing a new...
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The accredited investor standard has been revised to exclude the equity value of the investor's primary residence from the $1 million net worth thresh...
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We are adopting amendments to the accredited investor standards in our rules under the Securities Act of 1933 to implement the requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The Act requires the definitions of ``accredited investor'' in our Securities Act rules to exclude the value of a person's primary residence for purposes of determining whether the person qualifies as an ``accredited investor'' on the basis of having a net worth in excess of $1 million. This change to the net worth standard was effective upon enactment by operation of the Dodd-Frank Act, but it also requires us to revise our current Securities Act rules to conform to the new standard. We also are adopting technical amendments to Form D and a number of our rules to conform them to the ...
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Our previous alert dated December 19, 2011, described proposed changes to the "accredited investor" standards. On December 29, 2011, the Securities a...
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On January 25, 2011, the U.S. Securities and Exchange Commission (the "SEC") proposed amendments to the accredited investor standards in its rules und...
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Small privately-held companies may be scrambling to find qualified investors in the coming months, if they are not in that predicament already.
A new Securities and Exchange Commission regulation prohibits investors from including their homes as part of their net worth, according to an article by Gisella Rivera, an attorney at Meltzer Lippe in Mineola. Investors who wish to be "accredited," a label that opens them up to a variety of alternative investments and allows them to privately buy securities issued by companies, must have a net worth of at least $1 million as of July 21, Rivera said.
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Rule Change Could Require Closer Adherence to Rule 701 Limits
The US Securities and Exchange Commission has adopted a final rule implementing a new ...
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On December 21, 2011, the Securities and Exchange Commission ("SEC") amended its rules to implement Section 413(a) of the Dodd-Frank Wall Street Refor...