; (C) in paragraph (4), by striking , or for the assessment of systemic risk ; (D) in paragraph (5), by striking or for the assessment of systemic risk ; (E) in paragraph (6)(A)(ii), by striking , or for the assessment of systemic risk ; (F) by striking paragraph (7) and redesignating paragraphs (8) through (11) as paragraphs (7) through (10), respectively; and (G) in paragraph (8) (as so redesignated), by striking paragraph (8) and inserting paragraph (7) ; and (2) in section 211(e)— (A) by striking after consultation with the Council but ; and (B) by striking subsection 204(b) and inserting section 204(b) . 860. Definition of accredited investor (a) In general Section 2(a)(15) of the Securities Act of 1933 ( 15 U.S.C. 77b(a)(15) ) is amended— (1) by redesignating clauses (i) and (ii) as subparagraphs (A) and (F), respectively; and (2) in subparagraph (A) (as so redesignated), by striking ; or at the end and inserting a semicolon, and inserting after such subparagraph the following: (B) any natural person whose individual net worth, or joint net worth with that person’s spouse, exceeds $1,000,000 (which amount, along with the amounts set forth in subparagraph (C), shall be adjusted for inflation by the Commission every 5 years to the nearest $10,000 to reflect the change in the Consumer Price Index for All Urban Consumers published by the Bureau of Labor Statistics) where, for purposes of calculating net worth under this subparagraph— (i) the person’s primary residence shall not be included as an asset; (ii) indebtedness that is secured by the person’s primary residence, up to the estimated fair market value of the primary residence at the time of the sale of securities, shall not be included as a liability (except that if the amount of such indebtedness outstanding at the time of sale of securities exceeds the amount outstanding 60 days before such time, other than as a result of the acquisition of the primary residence, the amount of such excess shall be included as a liability)