In case you're just wondering what the changes to the rule are, they are roughly:
* The SEC can designate professional certifications from accredited institutions as a surrogate for wealth --- to begin with, FINRA Series 7, 65, and 82.
* Employees of investment funds can be accredited for purpose of investing in their employers fund.
* Firms that are SEC-registered investment advisors may now be accredited.
* To meet the individual standards of accreditation, households can pool wealth between spouses, regardless of whether both spouses are acquiring a security.
* LLCs with 5MM in assets are accredited, as are family offices with 5MM in assets.
* The SEC can designate professional certifications from accredited institutions as a surrogate for wealth --- to begin with, FINRA Series 7, 65, and 82.
* Employees of investment funds can be accredited for purpose of investing in their employers fund.
* Firms that are SEC-registered investment advisors may now be accredited.
* To meet the individual standards of accreditation, households can pool wealth between spouses, regardless of whether both spouses are acquiring a security.
* LLCs with 5MM in assets are accredited, as are family offices with 5MM in assets.