Finance reform legislation, bound for the Senate floor in April, could have significant repercussions for investors and entrepreneurs. The bill, introduced by Senator Christopher Dodd (D-CT), would create a new consumer protection watchdog within the Federal Reserve, install new regulations and safety valves to prevent another financial meltdown, and provide greater transparency within the financial industry. Two short provisions, however, have caught the attention of the private equity community and could change the rules for investors. The first would raise the minimum income and wealth level needed for individuals to qualify as accredited investors who may invest without forcing the company to register with the U.S. Securities and Exchange Commission (SEC). The second would allow each state to set its own rules regarding accredited investor security offerings.