REGULATION · US
SEC demands investment firms prove actual ownership of hot startup shares
SEC launched investigation into whether asset managers claiming stakes in unicorns actually hold verified shares or are merely collecting valuations. Signals crackdown on secondary-market opacity and fee-charging without real exposure.
WHY IT MATTERS
Implies SEC will impose new disclosure/custody rules for alternative asset valuation. Affects how wealth managers and family offices can market AI-focused startup funds; may require blockchain settlement or third-party custody proof.
Source: WSJ · 2026-09-01