Published Oct. 6, 2026. The Securities and Exchange Commission is considering whether additional professional credentials should allow individuals to qualify as accredited investors, potentially expanding access to private securities offerings.
Notices published in the Federal Register on Oct. 5 ask whether a Chartered Financial Analyst designation and certain securities licenses should count as qualifying credentials. Public comments are due Dec. 4, 2026.
Credentials under consideration
One SEC notice concerning the CFA designation would cover people who hold the charter in good standing. A separate notice covers the Series 79 Investment Banking Representative license and the Series 86 and Series 87 Research Analyst licenses.
The commission is asking whether those credentials demonstrate enough financial sophistication for their holders to evaluate the risks and merits of private offerings without all of the protections that accompany registered public offerings.
This is not a final rule
The notices do not immediately change who qualifies as an accredited investor. They open a public-comment process, after which the SEC could issue orders, change its approach or take no action. Until a final action is adopted and effective, investors and issuers must continue following the existing eligibility rules.
The SEC also has related pending notices involving other credentials and a possible FINRA-developed examination. The exam proposal was issued Sept. 30, and the agency separately posted a proposal concerning U.S. certified public accountants.
Why the decision matters
Accredited-investor status can determine whether a person may participate in certain private offerings. Expanding the list of qualifying credentials could provide access to more investment opportunities for finance professionals whose income or net worth does not meet other routes to eligibility.
Private offerings can also involve limited disclosure, restricted resale and a significant risk of loss. A professional designation or license does not make a particular investment safe, and the SEC’s request for comment is not an endorsement of private funds, startups or other unregistered securities.
What happens next
Comments submitted by Dec. 4 will become part of the public record. The commission may consider issues such as the rigor of each credential, continuing-education requirements, disciplinary oversight and whether good-standing requirements can be verified consistently.
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