SP Discussion, page-138

Hi Frank,

Are you sure you are a Yank?

In the U.S., an accredited investor is someone who is financially sophisticated and has a reduced need for the protection provided by regulatory disclosure filings.

To be considered an Accredited Investor, one must meet one of the following criteria:

a) Have an income greater than $200,000 in each of the past two years, or whose joint income with a spouse is greater than $300,000 in each of those years, and have a reasonable expectation of the same income level in the current year.

b) Have a net worth of at least $1,000,000, excluding the value of one’s primary residence.