SEC Atkins May Seek to Increase Investor Access to Private Markets

Securities and Exchange Commission Chairman Paul Atkins stated that he is open to changing SEC rules that currently restrict the sale of closed-end funds that invest 15 percent or more of their assets in private funds to accredited investors. According to Chair Atkins, the removal of the accredited investor requirement could allow more retail investors easier access to the growing private funds sector. Any rule change would require public notice of the proposed changes and a comment period. 

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