General Solicitation With All Purchasers Accredited
Chapters in this video
What this video covers
- Why the accredited-only general solicitation exemption and the no-solicitation private placement exemption are mirror images on a seesaw: one bans advertising and tolerates mixed purchasers, the other permits advertising and demands all-accredited purchasers
- Why a single non-accredited purchaser, no matter how sophisticated, completely destroys the accredited-only exemption
- What "reasonable steps to verify" accredited status means, and why the exam will not test specific verification methods
- Which general conditions still apply here (integration and resale limits) and which do not (general solicitation ban and information delivery conditions)
- Why information delivery conditions vanish under this exemption: there are zero non-accredited purchasers to protect
- How to spot exam distractors that bait you with overly specific verification procedures or a supposedly acceptable non-accredited buyer
Read the full lesson, free
This video's complete written lesson is free to read in the CertFuel app, no signup wall. The complete Series 82 course also includes adaptive practice questions and spaced-repetition flashcards, available in Free Beta.