Not just for the rich: SEC may make closed-end funds available to retail investors
By 
Aaron Nicodemus2025-05-21T14:11:00
Securities and Exchange Commission (SEC) 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.
Since taking over at the SEC in April, Atkins has already shaken up the agency. He has promised to legitimize cryptocurrencies with new rules and will likely continue to dismiss or settle lawsuits filed under President Joe Biden that labeled certain cryptocurrencies as unregistered securities. In his speech, Atkins also said he has asked SEC staff to perform a “comprehensive review” of the Consolidated Audit Trail (CAT), focusing on cost as well as risks posed by storing so much sensitive data together.
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