Leadership and Companies
SEC Opens More Private-Market Access Through Regulated Funds
The SEC proposed changes to widen retail access to private-market strategies and sought comment on new accredited-investor qualifications.
What happened
The SEC voted to propose amendments allowing registered investment advisers to receive performance-based compensation from certain regulated funds, while requiring related disclosures. It also proposed modernizing interval funds and creating rules for closed-end funds to issue multiple share classes. Separately, the SEC is considering exams and credentials such as CPA, CFA, CFP and FINRA licences as accredited-investor pathways.
Why it matters
The proposals could expand retail access to diversified private-market strategies through regulated funds while preserving disclosure and investor-protection requirements.
Source: U.S. SEC Press Releases