Regulatory & Compliance | 08.20.26

SEC Chair Wants FINRA To Develop Exam To Qualify Accredited Investors

by: Miriam Rozen

U.S. Securities and Exchange Commission Chair Paul Atkins has directed agency staff to work with the Financial Industry Regulatory Authority on developing an exam that would allow retail investors to qualify as accredited investors based on financial knowledge and sophistication. The proposal could expand access to private-market securities beyond current income and net-worth requirements, which begin at $200,000 in annual income or $1 million in net worth excluding a primary residence. Industry groups support adding professional experience and an investor test to the eligibility criteria. Investor advocates, however, warn that broader access could expose more people to risky private investments.

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