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On March 15, 2021, at long last, the Securities and Exchange Commission (“SEC”)’s proposed amendments to the private offering rules (a process which began in June 2019 via a concept release) are anticipated to go into effect.[1] Their goal? To (i) harmonize, simplify, and improve the existing framework; (ii) promote capital formation; (iii) expand investment opportunities for entrepreneurs and emerging businesses; and (iv) promote growth for companies of all sizes.[2] The revised framework also endeavors to expand the pool of potential investors eligible to participate in private offerings while also preserving and improving investor protections.[3] In addition, effective December 8, 2020, new categories of qualifying natural persons and entities were added to the definition of “accredited investor.”[4]