This Roundtable, co-sponsored by the Columbia Program in the Law and Economics of Capital Markets and the  Investment Company Institute (ICI) will raise questions on the role of investment advisers as gatekeepers/evaluators of fund opportunities, evolution of who is eligible to be an accredited investor and
how that has evolved, whether it should be further expanded to allow more participants as well as the challenges of reselling securities acquired in the private market and what mechanisms are available to trade restricted securities before they free up after the requisite holding period, and whether registered fund vehicles and BDCs are able to capitalize fully on opportunities in private investments, given various ’40 Act restrictions, including in particular Section 17, to which private funds are not subject.