Securities and Exchange Commission Chair Paul Atkins indicated he favors changing the agency’s requirement that only the wealthy can invest in so-called “closed-end” private equity funds and hedge funds.
In a speech delivered Monday as part of the SEC Speaks event, Atkins said he has asked SEC staff to re-evaluate the agency’s requirements that investors in closed-end funds offer an initial investment of $25,000 to be eligible, while also meeting the SEC’s “accredited investor” standard.
