The SEC has adopted the final rule to raise the “accredited investor” threshold used for private placements.  Commencing 60 days following its official publication (within 90 days), an “accredited investor” must have a net worth exceeding $1 Million, but such calculation excludes the investor’s primary residence.   Mortgage debt will be excluded as a liability except for mortgage debt in excess of the value of the residence and mortgage debt incurred within 60 days of the offering.  The new rule also allows follow-on investments from current investors if the investor qualified on July 20, 2011 and the investor held securities of the same issuer on such date.