Fierce Critic of ‘Accredited’ Investors Laws Takes Charge of SEC

roisman elad

“I am one of five votes every time the SEC decides to bring charges against a company we determine has made any untrue statement of a material fact, violated Regulation D, or failed to restate its financial statements when required. One might think I would be capable of understanding the risks of a private investment opportunity and recognize the information I would need to make an informed decision. Yet, I am not an accredited investor… More strikingly, many of the expert staff of the SEC who review, promulgate, and enforce our securities laws would not qualify (based on the income threshold) as an “accredited investor” and would still be deemed to require the protections of registration under the Securities Act of 1933. Based on this outcome, I wonder whether we have missed the mark,” emphasis his. So said the new chair of the Securities and Exchanges Commission (SEC), the most…

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