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Prepared Remarks before the Small Business Capital Formation Advisory Committee

· Gary Gensler, Chair of the U.S. Securities and Exchange Commission (United States)

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· Gary Gensler Wiki · U.S. Securities and Exchange Commission WikiPrepared Remarks before the Small Business Capital Formation Advisory Committee

ContextSpeech by Gary Gensler, Chair of the U.S. Securities and Exchange Commission.

Why it mattersGensler seeks advice on whether the accredited investor definition needs updating.

Problems raised
  1. The accredited investor definition may need updating.
  2. Exceptions weaken the disclosure bargain.
  3. Diversity in investing is limited.
Solutions proposed
  1. Seek the committee's views on the definition.
  2. Weigh when exceptions are appropriate.
  3. Discuss diversity practices and voluntary disclosure.
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