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The IAA calls on Congress to expand the accredited investor definition, allowing clients of fiduciary advisers to invest in the private market.
February 26, 2025
Comments on SEC Concept Release on Harmonization of Securities Offering Exemptions
The IAA recommended amending the definition of “accredited investor” and “qualified institutional buyer” or “QIB,” clarifying that certain communications do not violate the “general solicitation” or “general advertising” prohibitions, and expanding the ability of investors to invest in closed-end funds that invest in privately offered alternative investments.
October 18, 2019
Letter to the House Committee on Financial Services
The IAA submitted a letter to the House Financial Services Committee regarding the legislation referenced at hearings on February 8, including discussion on the definition of "accredited investor" and expanding access to private markets.
February 14, 2023
Comments on SEC Exempt Offering Proposal
The IAA recommended that the SEC further streamline the proposed verification of accredited investor status, provide clarification on communications not intended for public consumption, broaden the proposed rule for “Demo Days,” and adopt the rule regarding “testing-the-waters” communications as proposed.
June 01, 2020
Comments on SEC Amendments to the Definitions of “Accredited Investor” and “QIB”
The IAA supported expanding the definition of “accredited investor,” but recommended that the SEC consider alternative methods of showing investor sophistication, including discretionary account clients of SEC-registered investment advisers. The IAA also recommended expanding QIB eligibility for 144A offerings.
March 18, 2020
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