However, they didn't tighten the definition to prevent rich dentists from making bad decisions. They are loosening it which will allow even poor dentists to make bad decisions.
natural persons holding in good standing one or more professional certifications or designations or other credentials from an accredited educational institution
However, it is not possible to say since this class of professional certifications is not delineated. Dentistry may qualify. It may not.
> However, it is not possible to say since this class of professional certifications is not delineated.
Yes, it is quite specifically. The new rule also sets out standards (which would very much not seem to be likely to ever admit certification in dentistry) and a process for subsequent rulemaking to update the set of certifications, but any problem with certifications later adopted would be an issue with those actions, not the immediate action.
The initial set is "the General Securities Representative license (Series 7), the Private
Securities Offerings Representative license (Series 82), and the Licensed Investment Adviser Representative (Series 65)". [https://www.sec.gov/rules/final/2020/33-10824.pdf, bottom of p. 28]
> natural persons holding in good standing one or more professional certifications or designations or other credentials from an accredited educational institution
You cut off the critical second half of that statement, which significantly changes the meaning:
> natural persons holding in good standing one or more professional certifications or designations or other credentials from an accredited educational institution that the Commission has designated as qualifying an individual for accredited investor status
If you think the SEC would add DDS to that list, I'm not sure why you would trust them to regulate investing at all.
You've misunderstood the rule. It's not arbitrary professional certifications. It's those certifications the SEC designates, which right now are the Series 7 and Series 65. Nobody is going to automatically accredit dentists.
