The Securities and Exchange Commission’s Investor Advisory Committee will hold a meeting on March 2, 2023, which will be open to the public via webcast. In the morning session, the Committee will discuss potential regulatory implications of the growth of private markets relative to public markets. The agenda notes that panelists will explore the growth of the private markets and the factors contributing to that growth (performance, market dynamics, etc.), as well as the implications of this growth on decisions made by operating companies and investors, and whether there is a need for a regulatory response. This follows on the heels of a speech by Commissioner Crenshaw regarding the private markets, which we commented on in a prior post. NASAA also recently published a report commenting on these developments, as well as on various legislative initiatives, which is available here.
The Committee meeting agenda also includes discussions on the oversight of investment advisers, and the recent rule proposal to the Open-End Fund Liquidity Framework.
The full meeting agenda and list of speakers can be found here.