If DOMA is overturned, will the discrimination in the accredited investor definition go away?By http://profile.typepad.com/1237764140s22740 // June 11, 2013 in "Spouse", Accredited Investor Definition
I don't think so.
It's possible that the President, or the heads of various agencies, could take action, or simply clarify, that references to "spouse" in administrative regulations apply equally to same-sex spouses.
To address the problem of the insidious discrimination in the accredited investor definition, either the term "spouse" will need to be removed, or a constructive definition arrived at.
I'm not sure which solution is better.
I am sure, however, that there will be broad consensus in the angel investing community that the sexual orientation discrimination in the SEC rule is repugnant.
To learn more about this issue, go to http:\\startupequality.com.
Tip of the hat to Doug Cornelius for pointing out how DOMA skews the law.
Photo: Mark Fischer / Flickr.