The SEC was directed in Dodd-Frank to review and revisit the definition of an accredited investor. While it has been modified a bit (to remove the investor's home from the net worth calculation) the net worth and income figures have not been changed since 1982.
According to InvestmentNews, in an appearance before the House Financial Services Committee, SEC Chairman White said a staff study of the accredited investor standard would be released sometime in the next three to four months. The findings could provide the foundation for rulemaking.
SEC indicates timing, substance of 'accredited investor' reform