[iammisc]

The commenter you replied to above is half true. Accredited just means you can invest in securities not registered with the SEC, like your friend's bakery. Some funds are registered with the SEC, some are not. Some funds only accept accredited investors, some do not.

Anyone can sell stock to non-accredited investors... it's just that it costs much more to do so, so most don't. Instead, they go to the already rich upper-class and make them richer when the investments pan out.

One aspect that goes completely unmentioned in all this is the racial aspect. Many people want equality today, but the fact is that for many minorities, they are dependent on an upper class that is mostly white to raise their money. Instead of being able to issue stock directly to members of their own community (and people they likely have closer relationships with), they have to make a case to people they've never met and are not daddy's best friend. If we really want equality, it's time to end these restrictions.

[lovecg]

The SEC actually recognizes the issue and is studying possible revisions though no changes have been made yet: https://www.sec.gov/files/review-definition-of-accredited-in...

There are some reasonable sounding ideas they list:

- Permit individuals with a minimum amount of investments to qualify as accredited investors.

- Permit individuals with certain professional credentials to qualify as accredited investors.

- Permit individuals with experience investing in exempt offerings to qualify as accredited investors.

- Permit knowledgeable employees of private funds to qualify as accredited investors for investments in their employer’s funds.

- Permit individuals who pass an accredited investor examination to qualify as accredited investors.

[vmception]

its good you are aware of their work and on board with the research

you should recognize that's 6 years old and everything that was going to change has already changed, the article of this very thread is about using the new changes

> - Permit individuals who pass an accredited investor examination to qualify as accredited investors.

Only a further expansion this last point is what is on the table. As taking several FINRA tests do now allow for qualification as accredited (as seen in OP's article), and people get to submit new non-FINRA tests, their approval has not occurred yet.

[lovecg]

You’re too polite :) I should read the article before commenting, bad habit. Thanks for the correction.