Wall Street is calling on the U.S. Securities and Exchange Commission to lift the ban on private asset transactions.

CoinFeed reported on April 22 that lobbyists from some of Wall Street's largest alternative asset management firms are urging regulators to relax regulations to allow asset trading between funds managed by the same firm. They argue this would facilitate the use of private assets in retirement accounts. The Association of Alternative Investment Managers, representing firms including Blackstone Group and Apollo Global Management, is pressuring the U.S. Securities and Exchange Commission to lift the current ban on so-called cross-trading of private assets. This move comes as alternative asset management firms prepare to enter 401(k) retirement savings plans and other similar retirement savings programs.