The Securities and Exchange Commission has scheduled a Private Markets Roundtable to discuss the retailization of private markets.
Currently, non-accredited investors may participate in the private securities markets largely via Reg A and Reg CF. While there are certain situations in which a non-accredited individual may participate in a Reg D offering, the largest segment of private securities remains off-limits to smaller investors.
Currently, pending legislation will alter the accredited investor rules to enable better access for smaller investors. The current accredited investor definition generally requires that an individual earn over $200,000 a year or have a net worth of over $1 million (excluding a primary residence). New rules may provide a sophistication path for individuals who understand the markets better. This makes a lot of sense as private markets have grown dramatically, while public markets have declined – largely due to excessive costs affiliated with going public. This, and the fact that there is an ocean of private funds that want to jump ahead of the capital gains queue.
Recently on CI, an interview was shared that outlined how “innovation itself should be treated as a fifth asset class.” And diversification into private markets makes a lot of sense for investors.
Given the SEC’s pro-innovation, pro-retail investor leadership and Republicans’ control of Congress, there is a good chance things will improve in the coming months for smaller investors and access to Reg D securities offerings.
The Roundtable will discuss “governance, valuation, and other considerations with the aim of promoting responsible retailization.”
The event will take place on March 4, 2026, beginning at 130PM ET, and will be livestreamed on the SEC website and available to the public.