August 26, 2020

Crapo Commends SEC for Increasing Investor Participation and Expanding Access to Capital Markets

WASHINGTON, D.C. – U.S. Senator Mike Crapo (R-Idaho), Chairman of the U.S. Senate Committee on Banking, issued the following statement regarding the Securities and Exchange Commission’s (SEC) adoption of amendments to update and improve the definition of “accredited investor” in the Commission’s rules and the definition of “qualified institutional buyer” in Rule 144A under the Securities Act of 1933.  

“I have encouraged the SEC to expand and modernize the definitions of an accredited investor and a qualified institutional buyer beyond simple monetary thresholds, to take into consideration education and expertise.  The adoption of today’s amendments is a welcome development, and I commend the SEC for taking action which will increase investor participation in private offerings and expand access to capital markets.”