SEC Probes Investment Firms Over Startup Shares
The SEC is investigating investment firms regarding special purpose vehicles that offer private company exposure. Regulators are requesting proof that these advisers actually hold the startup shares they claim to own.
The United States Securities and Exchange Commission has stepped up examinations of investment firms managing special purpose vehicles, demanding proof of underlying startup share ownership. The regulatory push targets registered investment advisers offering private company exposure through SPVs. The probe seeks to verify whether funds actually hold the private shares they market to investors.
