Advisers cool to SEC proposal to expand accredited-investor definition

11/25/2013 | InvestmentNews (free registration)

Some financial advisers are skeptical about the idea of opening up private offerings to a wider pool of people, concerned that they'll become unwilling gatekeepers for clients who aren't ready for that level of risk. Advisers say they don't welcome the added responsibility they'll have if the Securities and Exchange Commission expands the definition of "accredited" investors.

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