On March 12, 2025, the U.S. Securities and Exchange Commission (SEC) issued two new Compliance and Disclosure Interpretations (C&DIs) and a no-action letter in response to a request from Latham & Watkins LLP, clarifying the verification process for accredited investors under Rule 506(c) of Regulation D.
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Thought LeadershipSEC No-Action Letter Eases Accredited Investor Verification for 506(c) Funds: What It Means for Fund Managers