I am reading everywhere about the new SEC expanded definition of accredited investor.  I am also seeing multiple different, incorrect, interpretations of the new rules.  Going to the SEC website to see what’s real, this is what I found:

Most of it involves companies, and organizations.  The parts that relate to individuals are just these two:

People with series 7, 65, and series 82 licenses are now recognized as accredited investors.

Regarding Private Investment Funds, people who are “knowledgeable employees” of the fund can invest as accredited investors.

That’s it.  There is no financial knowledge test being administered by the SEC.  This is not opening the floodgates for a whole bunch of a experienced investors who do not qualify by the previous definitions.  This is mostly a benefit to licensed financial professionals.

So, really not such a big deal as it is being made out to be.