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Potential Designation of Passage of an Accredited Investor Exam To Be Developed by FINRA as Qualifying Natural Persons for Accredited Investor Status
Plain English Summary
The Securities and Exchange Commission (SEC) is looking into whether passing a new exam created by FINRA can qualify individuals as accredited investors. This change could affect anyone wanting to be recognized as an accredited investor, which often allows access to certain investment opportunities. Insurance agents should stay informed about this potential exam, as it may impact their clients' investment options.
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Notice is given that the Securities and Exchange Commission (the "Commission") is considering whether to issue an order designating passage of an accredited investor exam (the "Exam") to be developed by the Financial Industry Regulatory Authority, Inc. ("FINRA") as qualifying natural persons for accredited investor status.