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Wall Street Ends Mixed as Weak Jobs Data Lowers Fed Rate Hike Bets, Chip Stocks Tumble 
Russia Stocks End Flat at Three-Year Low as MOEX Index Stalls, Gold Prices Climb 
Japan Defense Stocks Rally on Report of New Defense Ministry Bureau for Global Cooperation 
Gold Price Surges Above $4,120 as Weak US Jobs Data Lowers Fed Rate Hike Expectations 
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Mary Daly Says AI Uncertainty Clouds Fed Rate Outlook Despite Restrictive Policy 
Japan Signals Readiness to Act on Yen as Intervention Speculation Grows 
Brazil to Phase Out Gasoline Subsidy First as Diesel Support Stays Longer 
The US Securities and Exchange Commission broadened the definition of an accredited investor to allow more Americans to buy shares in private companies while easing some company disclosure rules.
The new definition added a test of the investor’s sophistication “based on professional knowledge, experience, or certifications, ” rather than basing it largely on income and wealth.
The SEC said the new definition was aimed at individuals, such as hedge fund employees or brokers, who are knowledgeable about private offerings but would not have qualified under the previous definition.
The agency added that it hopes the changes will boost retail investors’ access to the swelling pool of companies that are staying private for longer.
Family offices with at least $5 million in assets also fall under the new definition, making it easier for residents of Native American reservations and foreign nationals to qualify as accredited investors.
The director of investor protection at Consumer Federation of America, Barbara Roper, criticized the definition had for being too liberal, allowing private issuers to sell products to those who are not financially sophisticated to value those securities.
The SEC also eased rules on how public companies disclose legal proceedings and risks to eliminate repetitiveness and make the information more accessible.
