Wholesale fiasco: Changes confuse rules around sophisticated investor status

Wholesale fiasco: Changes confuse rules around sophisticated investor status

As debate intensifies around whether $2.5m in assets is enough to allow any investor to be classed as a “sophisticated” investor, an unlikely development has thrown a spanner in the works. As most readers would know, $2.5m in assets allows anyone to become a wholesale or sophisticated investor, and that certified status allows investors to access a range of supposedly upmarket products unavailable to retail ­investors. It also is generally under…