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Investing.com -- The U.S. Securities and Exchange Commission is ready to collaborate with the Labor Department to create appropriate safeguards if investors gain increased access to private markets through retirement plans.
SEC Chairman Paul Atkins stated in a CNBC interview on Monday that the agency can work with the Department of Labor to "help to have good guardrails" for offering greater private market access to individual investors.
Atkins’ comments came in response to questions about reports that President Donald Trump plans to sign an executive order making investments in private firms more accessible within retirement plans.
Historically, the SEC has limited mainstream investors’ access to private firms because these companies are not subject to the same disclosure requirements as public companies and often face valuation challenges.
"We need to make it so that individual investors are relying on fiduciaries to help them put these sorts of products, if they wish, into their long-term savings and retirement plans," Atkins said.
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