No inflation adjustment for accredited investor proposal draws criticism

Roll Call – In a story about the SEC’s proposed adjustments to the definition of an accredited investor, Healthy Markets Executive Director Tyler Gellasch is quoted saying “that the proposal was
“extraordinarily permissible” and that he fears the final rule will be even more so. The objectives of the accredited investor definition were established by a 1953 Supreme Court decision in Securities and Exchange Commission v. Ralston-Purina Co. That case established that accredited investors need both sophistication and access to the same company information available
in public markets, “which simply isn’t what the SEC demands in private markets today.” (Full Story).