Davis Polk partner Chris Healey was quoted in Bloomberg discussing potential changes to the SEC’s current ban on cross-trading in private assets. 

The article noted that some of Wall Street’s biggest alternative asset managers are urging the SEC to relax its rules preventing the buying and selling of assets between funds overseen by the same company. 

Chris said, “An obvious step would be to enhance the ability of regulated funds to generate liquidity for plan participants by expanding the SEC’s cross-trading rules to permit purchases and sales of illiquid and other investments with affiliates, with appropriate safeguards.”

“Wall Street Group Urges SEC to Lift Private Asset Trading Ban,” Bloomberg (April 22, 2026) (subscription required)

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