March 5, 2012 – On July 21, 2010, the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Act”) was signed into law.  As mandated by the Act, the Securities and Exchange Commission (“SEC”) recently amended its net worth standards used to determine whether an individual is an accredited investor.  The amendments, as adopted by the SEC, exclude the value of a person’s primary residence and clarify the treatment of any indebtedness secured by the residence in calculating net worth. See Securities and Exchange Commission Release No. 33-9287, available at: http://www.sec.gov/rules/final/2011/33-9287.pdf.

The Securities Division is now proposing to amend the definition of “accredited investor” contained in its rules to conform to federal law through expedited rule making. Questions concerning this rule making notice may be directed to Michelle Webster at michelle.webster@dfi.wa.gov or (360) 902-8736. 

Notice of Rulemaking Proposal

Expedited Rulemaking Notice

OTS-4640.1

OTS-4641.1





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