On August 26, 2020, the U.S. Securities and Exchange Commission (“SEC”) approved amendments to the “accredited investor” definition1, thereby increasing the number of persons that can participate in private offerings of securities2.  Previously, individuals that wanted to participate in private offerings generally had to be high earning or high net-worth individuals to qualify as “accredited […]

Just in time for the holidays, the U.S. Securities and Exchange Commission (“SEC”) gifted investors and other financial market participants with a notice of proposed changes to the “Accredited Investor” definition to expand access to private capital markets. The proposed rule would add new categories of persons that qualify as accredited investors based on professional […]

The U.S. Securities and Exchange Commission (“SEC”) adopted “Regulation Best Interest” (“Reg BI”) on June 5, 2019, requiring broker-dealers to act in the best interest of their retail customers when recommending securities or a particular investment strategy. Additionally, the SEC adopted a new Exchange Act Rule 17a-14, 17 CFR § 240.17a-14, that requires broker-dealers to […]

On April 3, 2019, the Securities and Exchange Commission’s (SEC’s) Strategic Hub for Innovation and Financial Technology, a.k.a. the SEC FinHub, released its “Framework for ‘Investment Contract’ Analysis of Digital Assets,” (the “Framework”)[note]The Framework “is not a rule, regulation, or statement of the Commission, and the Commission has neither approved nor disapproved its content. . […]