Wall Street Group Urges SEC to Lift Private Asset Trading Ban

Lobbyists for some of Wall Street’s biggest alternative asset managers are asking regulators to relax rules preventing the buying and selling of assets between funds overseen by the same company, a move they say will boost the adoption of private assets in retirement accounts.

The Alternative Investment Management Association, which represents firms including Blackstone Inc. and Apollo Global Management Inc., is encouraging the Securities and Exchange Commission to lift the current ban on so-called cross-trading in private assets, according to an email shared with members seen by Bloomberg News.

The effort comes as alternative asset managers prepare to ...