HFA Commends SEC on its Modernization of the Accredited Investor Definition

August 27, 2020

NEW YORK – The Hedge Fund Association (“HFA”), a leading international nonprofit trade and nonpartisan lobbying organization, and its members applaud the U.S. Securities and Exchange Commission (“SEC”)’s amendments to the “accredited investor” definition. These changes are in line with the HFA’s prior recommendations to include verifiable knowledge-based standards to expand the universe of accredited investors and enable greater access to alternative investment funds based on financial sophistication.

“We applaud the SEC’s amendments to the accredited investor definition and we concur with SEC commissioner Hester M. Peirce’s view that Series 7, 65, and 82 license holders and well-informed employees of private funds clearly have the knowledge and expertise to evaluate the merits and risks of an investment,” said Mitch Ackles, HFA’s Global President.

To view the HFA’s prior comments on this issue, please click the links below:

• September 25, 2019 – Hedge Fund Association Submits Comment Letter to SEC, Advocating Expanded Accredited Investor Qualifications
• December 16, 2016 – Hedge Fund Association Supports The House’s Approval of Expanded Accredited Investor Definition
• October 7, 2014 – Hedge Fund Association Cautions SEC on Impact of Raising Accredited Investor Net Worth Requirements 

About The Hedge Fund Association

The Hedge Fund Association (HFA) is an international non-profit industry trade and nonpartisan lobbying organization devoted to advancing transparency, development and trust in alternative investments. Membership in HFA includes hedge funds, private equity, venture capital, real estate and wealth management firms, institutional investors, family offices and service providers, including prime brokers, administrators, custodians, auditors, lawyers, risk managers, technologists and third party marketers. HFA’s leaders are elected and appointed volunteers that work on behalf of the entire alternative investment industry, including more than 10,000 hedge funds in the U.S. and abroad which collectively manage in excess of $3 trillion in assets, as well as professional investors and industry executives. To learn more visit https://www.hedgefundassoc.org.

Media Contact: Mitch Ackles, 646-657-9230, mitch@hedgefundpr.net

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