According to a recent SEC report, Rule 506 continued to be the most popular exeemption for real estate securities offerings in 2023.
Read MoreNew SEC rules harmonize Rule 506(b) and Regulation A disclosure requirements and make it easier for issuers to include nonaccredited investors in their offerings.
Read MoreEffective March 15, 2021 most Rule 506(c) issuers need only verify an investor's accredited status once every five years.
Read MoreIssuers should modify offering materials and forms and develop new policies before selling securities to new categories of accredited investors.
Read MoreThe SEC has reduced disclosure requirements for Rule 506(b) offerings sold to non-accredited investors so they match those in Regulation A.
Read MoreThe SEC has made it easier for issuers to verify accredited status for repeat investors under Rule 506(c).
Read MoreStarting in December individuals may be accredited based upon their credentials, and issuer employees may be accredited based upon their "knowledge." However, there is no bright-line test to determine which employees are sufficiently knowledgeable to be accredited investors.
Read MoreThe SEC has adopted a rule expanding the definition of accredited investor to include certain securities professionals, knowledgeable employees of the issuer, and others.
Read MoreThe SEC recently proposed a rule change which would expand and modernize the definition of accredited investor.
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