private-markets
Every record this desk has filed under private-markets, newest first, each with the number of sources it can still show you.
SEC proposes widening when registered funds can pay advisers performance fees and giving interval funds more flexibility, and seeks comment on exam and credential routes to accredited-investor status
The SEC said September 30 it voted to propose two rule packages the agency says would expand retail investor choice and could make private-market strategies more available through registered funds: wider use of performance fees, capped at 20% of net gains, and new interval-fund repurchase rules. It separately asked for comment on letting a FINRA exam, CPA, CFA or CFP credentials, or two FINRA licenses confer accredited-investor status. Comment periods run 60 days from Federal Register publication, not yet dated.
Also filed undersecinterval-fundsaccredited-investorsperformance-feesretail-investors
The SEC has proposed a wider door to private markets. Before you buy in, count the boxes the shares are packed in
On September 30 the SEC proposed ways to bring private-market strategies to everyday investors through regulated funds. The same day, in a separate action, it sued an adviser it says sold nearly 100 investors interests in funds meant to hold SpaceX and other pre-IPO shares and, in one case, told investors a deal had closed after the transfer was refused. The documents in the two actions do not mention each other. Read together, they show what to ask before buying any piece of a private company: what you own, whether the transfer happened, how you get out, and how the manager is paid.
Also filed underinvestor-protectionsecfinrapre-ipo
A record appears here because it carries private-markets in its own frontmatter. If a record you expected is missing, it was filed under a different subject — the full list is on the topics index.