Sec. 3401. Accredited investors include individuals receiving advice from certain professionals
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Section 2(a)(15) of the Securities Act of 1933 ( 15 U.S.C. 77b(a)(15) ), as amended by sections 3202 and 3302, is further amended by adding at the end the following: any individual receiving individualized investment advice or individualized investment recommendations with respect to the applicable transaction from an individual described under section 203.501(a)(10) of title 17, Code of Federal Regulations. In subparagraph (A)(v): The term investment advice shall be interpreted consistently with the interpretation of the phrase engages in the business of advising others, either directly or through publications or writings, as to the value of securities or as to the advisability of investing in, purchasing, or selling securities under section 202(a)(11) of the Investment Advisers Act of 1940 ( 15 U.S.C. 80b–2(a)(11) ).
The term investment recommendation shall be interpreted consistently with the interpretation of the term recommendation under section 240.15l-1 of title 17, Code of Federal Regulations. . The Securities and Exchange Commission shall revise section 203.501(a) of title 17, Code of Federal Regulations, and any other definition of accredited investor in a rule of the Commission in the same manner as such definition is revised under subsection (a).
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- 15 USC 80b–2(a)(11)
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Sec. 3401
Accredited investors include individuals receiving advice from certain professionals
Cite15 USC 80b–2(a)(11)
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