SEC proposes allowing more investors access to private companies

WASHINGTON: The U.S. Securities and Exchange Commission on Wednesday proposed changes to its decades-old definition of a professional investor in order to allow more Americans to buy shares in private companies.

The SEC said it was not clear yet how many people would meet the expanded definition, but it is seeking to capture eligible investors, like employees of hedge funds and holders of Series 7 and other licenses, who may not qualify based solely on income and wealth, but are"knowledgeable" of the risk in private offerings.

The SEC under its Republican-appointed chairman Jay Clayton has steadily cut red tape to make the public capital markets more attractive for companies since 2017.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

US SEC proposes allowing more investors access to private companiesThe U.S. Securities and Exchange Commission on Wednesday proposed changes to its decades-old definition of a professional investor in order to ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

US SEC proposes allowing more investors access to private companiesThe U.S. Securities and Exchange Commission on Wednesday proposed changes to its decades-old definition of a professional investor in order to ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Trump proposes rule for importing drugs from Canada; industry says it won't cut costsThe Trump administration on Wednesday said it is proposing a rule to allow states to import prescription drugs from Canada, moving forward a plan ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »