3 ms·
did you even read the SEC announcement? it is literally the first bullet point: * add a new category to the definition that permits natural persons to qualify
by thursday0987 6y ago
did you even read the SEC announcement? it is literally the first bullet point:
* add a new category to the definition that permits natural persons to qualify as accredited investors based on certain professional certifications, designations or credentials or other credentials issued by an accredited educational institution, which the Commission may designate from time to time by order. In conjunction with the adoption of the amendments, the Commission designated by order holders in good standing of the Series 7, Series 65, and Series 82 licenses as qualifying natural persons.
- madamelic 6y agoCool, I was bummed when I googled Series 7 and saw I needed to be sponsored. Looks like series 65 is the way to go since series 82 also requires sponsorship.
- mindcrime 6y agoLooks like series 65 is the way to go since series 82 also requires sponsorship. Depends. If simply passing the exam was enough, that does seem semi-reasonable. But if it requires you actually be licensed by your respective state, then the rabbit-hole goes much deeper. I looked at the requirements here in NC, although I don't know how representative they are of other states, but basically you'd have to register with the State as an investment management company (which would probably entail registering an LLC or something), and then pay them $300 / year to keep up your registration. Add the $200/ year or so for the LLC filing fees, as well as the paperwork requirements (annual report, etc), tax filings, and suchlike, and you're talking about a barrier that while not insurmountable, is still going to be fairly steep for most people.