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Many crowdfunding sites also have similar language, as most claims of accredited investor status do not actually require you to prove that status. If Joe Sixpa
by OrvalWintermute 5y ago
Many crowdfunding sites also have similar language, as most claims of accredited investor status do not actually require you to prove that status. If Joe Sixpack buys in, and made a false claim, that would be on him/her.
Some of the previous requirements around accreditor investor status have changed though
https://corpgov.law.harvard.edu/2020/09/18/sec-expands-definition-of-accredited-investor/ https://corpgov.law.harvard.edu/2020/09/18/sec-expands-defin...
https://www.sec.gov/news/press-release/2020-191 https://www.sec.gov/news/press-release/2020-191
- thrill 5y ago"If Joe Sixpack buys in, and made a false claim, that would be on him/her." You would think that would be the way that it is, but is most assuredly is not.
- wmf 5y agoYeah, the SEC seems to almost always treat the investor as the victim regardless of intent.
- windthrown 5y ago> If Joe Sixpack buys in, and made a false claim, that would be on him/her I doubt the SEC sees it that way. The core purpose of accredited investor requirements is to protect Joe Sixpack from opening themselves up to a bunch of liability.