SEC to Look at Rules for Investing in Private Funds, Review CAT

The Securities and Exchange Commission is taking a fresh look at rules that make it harder to invest in private funds.

SEC Chairman Paul Atkins said he will ask agency staff to consider revising 23-year-old rules for private funds that require investments by closed-end mutual fund investors of at least $25,000 and restrict sales to those who meet certain standards. He noted those restrictions have resulted in many retail investors missing out on opportunities in closed-end funds.

The goal is to start opening up the nearly $31 trillion private fund markets to more investors, Atkins said in prepared remarks for ...