On December 21, 2011, the Securities and Exchange Commission ("SEC") amended its rules to exclude the value of a person's home for purposes of calculating net worth when determining whether an individual qualifies as an "accredited investor" in certain securities offerings exempt from registration under federal securities laws, including Regulation D private placement exemptions. This rule reflects the requirements of Section 413(a) of the Dodd-Frank Act and generally follows the Proposing Release issued by the SEC in January 2011 ("Proposing Release").
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Monday, January 9, 2012
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