Panel advises SEC to expand pool of accredited investors

dealmaker · Jul 20, 2016

Panel advises SEC to expand pool of accredited investors
An advisory committee recommends increasing the number of investors eligible to buy unregistered securities by broadening the Securities and Exchange Commission's definition of an accredited investor. The definition would include those who have passed the Series 7, 65 or 82 securities license exams or who have obtained a chartered financial analyst or similar credential. (Investment News)

gkishot · Jul 20, 2016

dealmaker said:
Panel advises SEC to expand pool of accredited investors
An advisory committee recommends increasing the number of investors eligible to buy unregistered securities by broadening the Securities and Exchange Commission's definition of an accredited investor. The definition would include those who have passed the Series 7, 65 or 82 securities license exams or who have obtained a chartered financial analyst or similar credential. (Investment News)

LOL! Those people don't invest themselves.

Sig · Jul 20, 2016

gkishot said:
LOL! Those people don't invest themselves.

Maybe not, but it always was irrational to use an earning/asset test to determine if you're "sophisticated" enough not to require protection from harming yourself while someone who's demonstrated the expertise with an exam or certification system aren't considered "sophisticated" enough. Especially when they're allowed to have full discretion over someone else's money to trade in said investments!

gkishot · Jul 20, 2016

Sig said:
Maybe not, but it always was irrational to use an earning/asset test to determine if you're "sophisticated" enough not to require protection from harming yourself while someone who's demonstrated the expertise with an exam or certification system aren't considered "sophisticated" enough. Especially when they're allowed to have full discretion over someone else's money to trade in said investments!

Not sure what's your point. They surely do not obtain their license with the purpose of investing their own money b/c to do so you don't need any.