The SEC has “an important mandate to ensure the responsible retailization of private markets,” said Blair Burnett, branch chief in the SEC Division of Investment Management’s rulemaking office, at the SEC Private Markets Roundtable held on March 4, 2026. The agency seeks to “reduce regulatory barriers that prevent retail investors from accessing diverse investment opportunities in the private markets while maintaining, of course, core investor protections and appropriate safeguards,” he explained. Burnett moderated a panel focused on investment vehicles providing access to private market strategies; valuation processes and concerns; semi-liquid funds; and fee structures. This second article in a two-part series presents the key takeaways from the panel. The first article synthesized the insights from a panel focused on valuation and liquidity. See “Advances and Challenges in ‘Retailization’ of Alternative Investment Products” (Jun. 19, 2025).