The Dodd-Frank Act required that the SEC periodically assess the “accredited investor” definition. On Friday, the SEC issued the staff report, which was prepared by Staff from the Divisions of Corporation Finance and Economic and Risk Analysis. The report considers alternative approaches to defining “accredited investor,” provides staff recommendations for potential updates and modifications to the existing definition and analyzes the impact potential approaches may have on the pool of accredited investors. The public may provide comments.
See the press release here: http://www.sec.gov/news/pressrelease/2015-284.html