The Securities and Exchange Commission, Small Business Capital Formation Advisory Committee (SBCFAC), has scheduled its next meeting for May 6, 2024. As of today, the agenda has not been released.
At the last meeting in February, the SBCFAC discussed multiple topics of interest, including a review of the definition of an Accredited Investor.
At the end of the last meeting, the Committee appeared to be in agreement to advise the SEC to expand the definition and move away from its current discriminatory form. While current SEC leadership wants to make the definition of an Accredited Investor less inclusive, the Committee may challenge the Commission’s intent with a recommendation to create other avenues to be deemed to be Accredited.
We should find out more on May 6th.
The meeting will be live-streamed on the SEC website and available to the public.
