Friday, September 6, 2013

What Membership in an Established Angel Group Says About the Purchaser

ACA Guidance on Accredited Investor Verification: What Membership in an Established Angel Group Says About the Purchaser


ACA today provided guidance on the significance of angel group membership in connection with new standards for accredited investor verification. Under Securities and Exchange Commission (SEC) Rule 506(c), which becomes effective September 23, 2013, startups and emerging companies that generally solicit for investors will have heightened duties to verify that all purchasers are accredited.*

Rule 506(c) represents a significant change in securities law...read it at the ACA Blog

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