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Monday, April 23, 2012 9:23:19 AM
Per the SEC RULING:
"ACTION: Final rule.
SUMMARY: We are adopting amendments to the accredited investor standards in our rules under the Securities Act of 1933 to implement the requirements of Section 413(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Section 413(a) requires the definitions of “accredited investor” in our Securities Act rules to exclude the value of a person’s primary residence for purposes of determining whether the person qualifies as an “accredited investor” on the basis of having a net worth in excess of $1 million. This change to the net worth standard was effective upon enactment by operation of the Dodd-Frank Act, but Section 413(a) also requires us to revise our current Securities Act rules to conform to the new standard. We also are adopting technical amendments to Form D and a number of our rules to conform them to the requirements of Section 413(a) and to correct cross-references to former Section 4(6) of the Securities Act, which was renumbered Section 4(5) by Section 944 of the Dodd-Frank Act.
DATES: Effective Date: February 27, 2012."
http://www.sec.gov/rules/final/2011/33-9287.pdf
Everything I say,is only my opinion. DO not rely on anything I post,as buy or sell advice. DO your own homework.
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