tel: 888.868.8467
On March 12, 2025, the U.S. Securities and Exchange Commission (SEC) released a no-action letter that could mark a major shift for investors interested in private placements. While the update is centered on Rule 506(c) of Regulation D—a rule that governs how private funds can raise capital—it has direct implications for how easily accredited investors can access alternative investments, including real estate-backed income funds.
Whether you’re new to private offerings or have invested in them before, this regulatory clarification makes participation more straightforward and opens up new possibilities for your portfolio.
Rule 506(c) allows fund managers to publicly market investment offerings to accredited investors—but only if they take “reasonable steps” to verify the investor’s accredited status.
In the past, this verification process was burdensome. Investors had to provide personal documents such as tax returns, brokerage statements, or letters from CPAs to prove they met the SEC’s definition of an accredited investor. While designed for protection, this process often created unnecessary friction and discouraged participation.
The SEC’s no-action letter now provides a more flexible and practical path to verification:
This change not only streamlines the investor experience but also encourages more fund managers to offer 506(c) opportunities to the public through online platforms, events, and digital channels.
This update has the potential to reshape how—and how easily—accredited investors can participate in private offerings:
Broader access – With more funds able to publicly advertise, investors can discover opportunities they previously might never have known about.
Faster onboarding – Reduced compliance hurdles mean quicker access to time-sensitive investment offerings.
More investor-friendly options – As more fund managers adopt Rule 506(c), competition may increase—benefiting investors through improved transparency, reporting, and service.
For accredited investors seeking passive monthly income backed by real estate, the TaliMar Income Fund is an example of a 506(c) offering positioned to benefit from this regulatory clarity. The Fund is open to accredited investors and offers:
As access to private investments becomes more streamlined, now may be the right time to explore how a professionally managed mortgage fund can complement your portfolio.
TaliMar Income Fund I offers investors the ability to participate in the rapidly growing demand for private real estate debt. The fund is comprised of a diversified portfolio of short-term loans secured primarily on residential single family and multi-family properties throughout California. The fund manager, TaliMar Financial, was established in 2008 and has successfully funded over $500 million in loans. Investors in the mortgage fund include high net worth investors, family offices, and private equity funds who are seeking consistent monthly income, the security of real estate, and the tax benefits of a mortgage fund structured as a real estate investor trust.
Disclosure: This advertisement is for informational purposes only and does not constitute an offer to sell nor a solicitation of an offer to buy any security. Such offers can only be made by the Private Placement Memorandum (“PPM”) and related subscription documents. Any investment in TaliMar Income Fund I involves significant risk. You should not enter into any transactions unless you fully understand all such risks and have independently determined that such transactions are appropriate for you. Business Purpose Loans arranged through TaliMar Income Fund I, LLC (DFPI CFL License No. 60DBO-137778).
Call Us Tap to Call 
