The SEC voted Wednesday, Aug. 26, to change certain public company disclosures and make more investors eligible to participate in private capital markets as accredited investors.
Public company disclosures of the description of business (Item 101), legal proceedings (Item 103) and risk factors (Item 105) will change after the SEC adopted amendments to Regulation S-K.
The SEC also voted to amend its definition of “accredited investor” to provide eligibility to investors who don’t pass the existing tests for income or net worth but meet defined measures of professional knowledge, experience or certification. Learn more about these changes here.