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Legal Update

'Net Worth' Standard for Accredited Investors Further Amended by US Securities and Exchange Commission

4 January 2012
Mayer Brown Legal Update
The Securities and Exchange Commission has further amended its net worth standard for accredited investors to exclude the value of a primary residence for purposes of determining whether a natural person, either individually or jointly with their spouse, has a net worth in excess of $1 million. The SEC amended the portion of the accredited investor definition that qualifies a natural person investor as accredited based on net worth under both Rule 501 of Regulation D and Rule 215 of the Securities Act. The SEC also adopted technical amendments to Form D and a number of other rules to conform them to the corresponding Dodd-Frank Act requirements.


  • James B. Carlson
    T +1 212 506 2515
  • David Malinger
    T +1 312 701 8662
  • John W. Noell
    T +1 312 701 7179
  • Laura D. Richman
    T +1 312 701 7304
  • Wendy Dodson Gallegos
    T +1 312 701 8057
  • Stephanie M. Monaco
    T +1 202 263 3379
  • Frank A. Falbo
    T +1 312 701 7485
  • Adam D. Kanter
    T +1 202 263 3164
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