Verifying Accredited Investor Status for online private placement platforms
AngelList and ForgeGlobal are two platforms where accredited investors can invest in unregistered securities. Both platforms ask potential investors to self-verify that they meet at least one of the criteria for accredited investor status. They don't ask for any documentation as proof.
Do those platforms - or the issuers that investors ultimately invest in - do any further background check to confirm their investors are actually accredited? If so, what do they do?
My understanding is that it isn't sufficient for platforms to just take people at their word, but that seems to be what is happening.
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