Subject: File No. S7-25-19....Amending the "Accredited Investor" Definition
From: Fernando Sanchez

Feb. 13, 2020

Ladies & Gentlemen, 
One comment: what happens when someone meets your numerical targets for accredited investor in the past, but has since spent a significant amount of funds to drop below your hurdles for accreditation?  Does he/she suddenly lose the ability to be an intelligent investor?  Is he/she now not able to invest in products that they could before, only due to lack of funds?  That sounds ludicrous to me, his/her investment knowhow is probably even better than before…. 
How do you plan to address this?? 

Regards, Fernando 
Peace be with you