Endnotes 1 The proposed rules can be found at <a href="http://www.sec.gov/rules/proposed/2012/33-9354.pdf.">http://www.sec.gov/rules/proposed/2012/33-9354.pdf.</a> 2 An accredited investor is generally any person or entity that falls within one of the following categories at the time of the investment: ??? Any bank, savings and loan association or other institution as defined in the Securities Act; any broker or dealer registered pursuant to Section 15 of the Se