Agreed, tis a strange, antiquated ruling that one and with any luck we'll follow our mates across the Tasman and have CRs open to all (though I think NZ ceased the craziness only this year) ... but here it is plain and simple re sophisticated eligibility from CMC online:
This is the so-called sophisticated investor rule. The most common method of satisfying the sophisticated investor rule is to provide an accountant’s certificate verifying that either:
You have net assets of at least $2.5 million; or
You have a gross income for each of the last two financial years of at least $250,000
