Wall Street Calls on the U.S. SEC to Lift Ban on Private Asset Trading

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ME News, April 22 (UTC+8): Some lobbyists from major Wall Street alternative asset management firms are asking regulators to relax relevant rules, allowing asset trading between funds managed by the same company. They say this would promote the use of private assets in retirement accounts. The Alternative Investment Management Association, representing companies including Blackstone Group and Apollo Global Management, is urging the U.S. Securities and Exchange Commission to lift the current ban on so-called private asset cross-trades. As this initiative is rolled out, alternative asset management firms are preparing to enter 401(k) retirement savings plans and other similar retirement savings programs. (Source: PANews)
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