{"abstract":"We are adopting amendments to the accredited investor standards in our rules under the Securities Act of 1933 to implement the requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The Act requires the definitions of \"accredited investor\" in our Securities Act rules to exclude the value of a person's primary residence for purposes of determining whether the person qualifies as an \"accredited investor\" on the basis of having a net worth in excess of $1 million. This change to the net worth standard was effective upon enactment by operation of the Dodd-Frank Act, but it also requires us to revise our current Securities Act rules to conform to the new standard. We also are adopting technical amendments to Form D and a number of our rules to conform them to the requirements of the Act and to correct cross-references to former Section 4(6) of the Securities Act, which was renumbered Section 4(5) by Section 944 of the Dodd-Frank Act.","action":"Final rule.","agencies":[{"raw_name":"SECURITIES AND EXCHANGE COMMISSION","name":"Securities and Exchange Commission","id":466,"url":"https://www.federalregister.gov/agencies/securities-and-exchange-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/466","parent_id":null,"slug":"securities-and-exchange-commission"}],"body_html_url":"https://www.federalregister.gov/documents/full_text/html/2011/12/29/2011-33333.html","cfr_references":[{"chapter":null,"citation_url":null,"part":230,"title":17},{"chapter":null,"citation_url":null,"part":239,"title":17},{"chapter":null,"citation_url":null,"part":270,"title":17},{"chapter":null,"citation_url":null,"part":275,"title":17}],"citation":"76 FR 81793","comment_url":null,"comments_close_on":null,"correction_of":null,"corrections":[],"dates":"Effective date: February 27, 2012.","disposition_notes":null,"docket_ids":["Release Nos. 33-9287","IA-3341","IC-29891","File No. S7-04-11"],"dockets":[],"document_number":"2011-33333","effective_on":"2012-02-27","end_page":81806,"executive_order_notes":null,"executive_order_number":null,"full_text_xml_url":"https://www.federalregister.gov/documents/full_text/xml/2011/12/29/2011-33333.xml","html_url":"https://www.federalregister.gov/documents/2011/12/29/2011-33333/net-worth-standard-for-accredited-investors","images":{},"images_metadata":{},"json_url":"https://www.federalregister.gov/api/v1/documents/2011-33333?publication_date=2011-12-29","mods_url":"https://www.govinfo.gov/metadata/granule/FR-2011-12-29/2011-33333/mods.xml","not_received_for_publication":null,"page_length":14,"page_views":{"count":1302,"last_updated":"2026-07-26 04:15:02 -0400"},"pdf_url":"https://www.govinfo.gov/content/pkg/FR-2011-12-29/pdf/2011-33333.pdf","presidential_document_number":null,"proclamation_number":null,"public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2011-33333.pdf?1325080662","publication_date":"2011-12-29","raw_text_url":"https://www.federalregister.gov/documents/full_text/text/2011/12/29/2011-33333.txt","regulation_id_number_info":{"3235-AK90":{"issue":"201110","html_url":"https://www.federalregister.gov/regulations/3235-AK90/net-worth-standard-for-accredited-investors","title":"Net Worth Standard for Accredited Investors","xml_url":"http://www.reginfo.gov/public/do/eAgendaViewRule?pubId=201110&RIN=3235-AK90&operation=OPERATION_EXPORT_XML","priority_category":"Substantive, Nonsignificant"}},"regulation_id_numbers":["3235-AK90"],"regulations_dot_gov_info":{"checked_regulationsdotgov_at":"2012-01-18T08:06:02Z"},"regulations_dot_gov_url":null,"significant":false,"signing_date":null,"start_page":81793,"subtype":null,"title":"Net Worth Standard for Accredited Investors","toc_doc":"Net Worth Standard for Accredited Investors","toc_subject":null,"topics":["Reporting and recordkeeping requirements","Securities"],"type":"Rule","volume":76}