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SEC Small Business Advisory Committee to Discuss the Accredited Investor Definition and the Role of Diversity in the Investment Process


Washington D.C., Nov. 22, 2023 —

The Securities and Exchange Commission’s Small Business Capital Formation Advisory Committee today released the agenda for its meeting on Wednesday, Nov. 29, which will include a discussion of the accredited investor definition and diversity and the investment process. Members of the public can watch the live meeting via webcast on

The Committee, which provides advice and recommendations to the Commission on rules, regulations, and policy matters relating to small businesses, will use the morning session to discuss the accredited investor definition. Committee members will share their views on, and experiences with, the existing definition and discuss potential changes.

In the afternoon session, the Committee will explore the merits and use cases of diversity metrics by investors, including existing practices and voluntary disclosure. An invited panelist will share information on how diversity metrics are incorporated into the investment process. As part of this discussion, the Committee will discuss the role of disclosure and what varying diversity disclosures may be designed to achieve, while exploring potential impacts and limitations in light of both the existing regulatory framework and current related legal challenges.

The full agenda, meeting materials, and information on how to watch the meeting are available on the Committee webpage.


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