October 2, 2012
It is important to take into account that Accredited Investors are above average investors. This is why certain investments are only aim at them. Having 3rd party verification is self-serving to themselves and increases the costs to investors and issuers.
Certainly Congress has taken into account the ability of an Accredited Investor to make a informed decision.
Making the process of insuring that exempted investments are only being made to accredited investors should not be to cumbersome or costly.
At the bare minimum a notarized sworn statement that an individual makes stating that he or she is an accredited investor should be the only requirement needed.