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Email By a 3-2 vote, the Securities and Exchange Commission (the “SEC”) approved the publication of a release on December 18, 2019, generally expanding the scope of the definitions of “accredited investor” in Rule 501(a) of Regulation D and “qualified institutional buyer” in Rule 144A under the Securities Act of 1933 (the “Securities Act”) to increase accessibility to private investment opportunities. The Release also proposed related changes to Rules 215 and 163B under the Securities Act and Rule 15g-1 under the Securities Exchange Act of 1934 (the “Exchange Act”). https://www.cadwalader.com/resources/clients-friends-memos/sec-proposes-rule-amendments-designed-to-expand-access-to-private-investment-opportunities