SEC proposes allowing more investors to participate in Regulation D offerings

In a shift in the way the US Securities and Exchange Commission (the “SEC”) has traditionally viewed investors in private offerings, the SEC has proposed to expand the definition of “accredited investor” under Regulation D to include consideration of a natural’s person financial sophistication, rather than focusing only on the person’s financial status. The proposed amendments would also add new categories of entities to both the definitions of “accredited investor” under Regulation D and “qual