Qualified Institutional Buyer (Securities & Capital Markets Glossary)

Summary

The definition of “qualified institutional buyer” was amended effective December 8, 2020. The amendments, among other things, expanded the definition to include (1) Rural Business Investment Companies, (2) limited liability companies, and (3) certain institutional accredited investors. This glossary term reflects the amended definition. For more information, see Amending the "Accredited Investor" Definition, SEC Release Nos. 33-10824; 34-89669 (August 26, 2020) (2020 SEC LEXIS 4000), SEC Amends Definitions of Accredited Investor and Qualified Institutional Buyer, and SEC Adopts Amendments to the Definitions of "Accredited Investor" and "Qualified Institutional Buyer": Client Alert Digest.