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Potential Designation of Certified Financial Planner Certification as Qualifying Natural Persons for Accredited Investor Status
Plain English Summary
The Securities and Exchange Commission (SEC) is thinking about allowing individuals with a Certified Financial Planner (CFP) certification to qualify as accredited investors. This change would mean that people who are CFPs in good standing could meet the requirements to invest in certain private investment opportunities. Insurance agents should stay informed about this potential change, as it could affect clients looking to invest.
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Notice is given that the Securities and Exchange Commission (the "Commission") is considering whether to issue an order designating holding a certification as a Certified Financial Planner (a "CFP") in the United States in good standing as qualifying natural persons for accredited investor status.