[SEC Proposes Lowering Barriers for Private Equity Investment, Encouraging Retail Investors to Enter the Private Market] The U.S. Securities and Exchange Commission (SEC) on Wednesday proposed a series of reform measures aimed at expanding access for individual investors to the private market, allowing more retail investors to engage with private equity, early-stage startups, and other alternative assets. One of the proposals would permit registered investment advisers to charge performance fees of up to 20% based on fund performance, aligning the fee structure more closely with the '2% management fee + 20% performance fee' model used by some hedge funds, in order to attract more private equity managers to serve individual investors. SEC Chairman Paul Atkins stated that the Commission seeks to explore ways to broaden individual investor participation in the private market while safeguarding against fraud and misconduct. The SEC also proposed expanding the definition of 'accredited investors,' allowing more professionals with certifications (including Certified Public Accountants and Chartered Financial Analysts) to qualify for investment eligibility.