Atkins argues prior rules drove investment offshore, limiting protections and causing investors to lose money completely.
“Thus, it has driven investment offshore, limiting the type of protections that we can provide investors here, and sometimes resulting in investors watching their money completely disappear.”
Atkins proposes facilitating retail investor participation in private markets with safeguards.
“Our agenda includes a proposal to better facilitate retail investor participation in private markets while preserving their protection with appropriate safeguards.”
Atkins explains the proposal eliminates affirmative consent requirement but preserves opt-out rights for paper delivery.
“These entities would not be required to obtain affirmative consent from investors and other recipients, but investors still would be able to opt out of default e-delivery and receive paper copies of information upon request.”