According to CoinMeta, the U.S. Securities and Exchange Commission (SEC) proposed a series of reform measures on Wednesday aimed at expanding channels for individual investors to participate in the private equity market, allowing more retail investors to access private equity, early-stage startups, and other alternative assets. One of the proposals allows registered investment advisors to charge up to 20% in performance fees based on the fund's performance, bringing the fee structure closer to that of some hedge funds, which consist of a 2% management fee plus a 20% performance bonus, in order to attract more private equity management firms to serve individual investors. SEC Chair Gary Gensler stated that the commission hopes to explore ways to increase individual investors' participation in the private equity market while also preventing fraud and misconduct. The proposal also suggests expanding the definition of "qualified investors," allowing more individuals with professional qualifications (including certified public accountants and chartered financial analysts) to meet the investment criteria.