The Hedge Fund Association (HFA), an international nonprofit trade and nonpartisan lobbying organisation, says it applauds the US Securities and Exchange Commission's (SEC) amendments to the “accredited investor” definition. These changes are in line with the HFA’s prior recommendations to include verifiable knowledge-based standards to expand the universe of accredited investors and enable greater access to alternative investment funds based on financial sophistication.

“We applaud the SEC’s amendments to the accredited investor definition and we concur with SEC commissioner Hester M Peirce’s view that Series 7, 65, and 82 license holders and well-informed employees of private funds clearly have the knowledge and expertise to evaluate the merits and risks of an investment,” says Mitch Ackles, HFA’s Global President.