Corrie Driebusch
speaker
416 appearances
8 recordings
1 series
first heard Oct 2018
last heard Oct 2024
Corrie Driebusch’s voice in public audio — every appearance, attributed to the second.
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Appearances
In private securities, it's not that simple.
So there seems to be this feeling that there needs to be some level of financial sophistication for individuals who want to invest in these securities.
But what determines financial sophistication?
Is it that you have enough money that if you do lose a lot, you'll be okay?
Or if you have this financial knowledge, should that be the determining factor?
The proposed bill from the Republicans on the Senate Banking Committee say that the SEC or another regulator can write an exam that would test this.
So we're going to have to see an exam approved.
I don't know.
And I think that's all up in the air.
So we'll see.
I hope I could pass it from my time covering Wall Street and capital markets.
But who knows?
Maybe not.
Yeah, so today accredited investors need $1 million in net assets, but that does not include your primary home residence, or at least $200,000 in annual income or $300,000 for a joint household.
So those are the pretty standard requirements, but that's basically been left mostly the same for the last four decades.
The SEC actually has put out estimates a couple years ago that showed...
how many US households 40 years ago qualified as accredited investors.
In 1983, that was just 1.5 million households.
As of 2022, they estimated that about 24.3 million US households qualified.
And before you think, oh, we've expanded access so much, it's more because of inflation.
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