17 CFR §227.504
Verified against eCFR.gov as of June 20, 2026View official text on eCFR.gov ↗
For purposes of section 18(b)(3) of the Securities Act [15 U.S.C. 77r(b)(3)], a “qualified purchaser” means any person to whom securities are offered or sold pursuant to an offering under §§ 227.100 through 227.504 (Regulation Crowdfunding).