The department of financial institutions recently adopted
amendments to the "accredited investor" definition set forth
in chapter 460-44A WAC to align the definition with that
adopted by the Securities and Exchange Commission. The
amendments address the treatment of indebtedness secured by an
investor's primary residence, which was previously addressed
in Securities Act Interpretive Statement No. 23. In light of
the recent adoption of amendments to the "accredited investor"
definition, the department of financial institutions hereby
repeals the following interpretive statement under the
Securities Act, chapter 21.20 RCW:
Further information about the recent rule making is
available on our web site at
http://dfi.wa.gov/sd/rulemaking.htm. Please contact Michelle
Webster at (360) 902-8736 or michelle.webster@dfi.wa.gov with
any questions.