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According to Business Insider, the Securities and Exchange Commission is stepping up scrutiny of mutual fund investments in private companies, according to people with knowledge of the agency’s interest.


  1. What has been the problem with mutual funds investing in companies like Airbnb or WeWork?
  2. Which case is notorious for spiking the SEC’s interest in the issue of illiquid securities?
  3. The SEC enacted rules earlier this year regarding mutual funds. Briefly summarize the issues that these focused on.


Saacks, B. and D. Campbell (2019). The SEC is scrutinizing whether mutual funds need to shed more light on stakes in unicorns like WeWork and Airbnb — and it could mean more protections for mom-and-pop investors. Business Insider, July 29 (Retrievable online at