美國證券交易委員會擬聯同勞工部為退休計劃私人市場投資設立保障措施
紐約消息，美國證券交易委員會（SEC）主席保羅·艾特金斯（Paul Atkins）週一接受CNBC訪問時表示，若退休計劃讓投資者能更容易接觸私人市場，SEC準備與勞工部合作，為投資者設立保障措施。
艾特金斯回應有關特朗普總統計劃簽署行政命令，推動退休計劃中私人企業投資更普及的報道時指出：「我們可以與勞工部合作，為人們提供更好的保障措施，從而讓個人投資者能夠更廣泛接觸私人市場。」
由於私營企業不像上市公司般需披露大量資料，且估值存在不確定性，SEC歷來限制主流投資者參與私人市場的投資。
艾特金斯強調：「我們需要確保個人投資者依賴受託人（fiduciaries），協助他們將這類產品（若他們願意）納入長期儲蓄及退休計劃。」
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評論與啟示
SEC願意與勞工部合作，為退休計劃引入私人市場投資設立「護欄」，反映出監管機構正嘗試平衡市場創新與投資者保護的需求。私人市場因其流動性較低、信息透明度不足及估值難題，一直被視為高風險投資領域，尤其對於普通退休投資者而言，缺乏專業知識可能導致資金損失。
艾特金斯提出依賴受託人制度，等於強調必須有專業人士或機構負責監督和管理這些投資，避免投資者盲目進入複雜產品。這種做法有助於降低風險，但同時也會提高管理成本，可能影響退休計劃的整體收益。
對香港市場而言，這種趨勢值得關注。隨著本港資產管理業務逐漸多元化，若能引入類似制度，或許能為本地退休計劃帶來更多投資機會。然而，如何在保障投資者權益與推動市場活力之間取得平衡，仍是監管機構需要審慎考量的課題。
總括而言，美國SEC的態度顯示，未來退休計劃的投資範圍可能會更加廣泛，私人市場不再是少數富裕投資者的專利，但前提是必須有嚴謹的監管框架和專業支持，才能真正保障退休投資者的利益。這對全球退休投資市場的發展具有示範意義，也提醒香港業界提前準備相應監管和服務機制。
以上文章由特價GPT API KEY所翻譯及撰寫。
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![{
"intro": "Create an ultra realistic 8K UHD DSLR photo based on the attached image as a reference of facial features, maintaining 100% likeness.",
"subject": {
"identity": "A stylish beautiful woman portrayed as Cleopatra during her sacred milk bath beauty ritual, embodying divine femininity, sensual elegance, and timeless power.",
"angle": "Close-up beauty editorial captured at a refined 3/4 angle, focusing on her face, shoulders, and upper chest with extreme clarity and no blur.",
"pose": {
"body_position": "She is partially submerged in a luxurious milk bath, her shoulders and collarbones emerging gracefully from the surface.",
"hands": "One hand gently rests at the edge of the bath with milk droplets on her fingers, while the other lightly touches her neck adorned with subtle gold jewelry.",
"expression": "Soft yet commanding gaze directed toward the camera—calm, confident, intimate, and hypnotic."
}
},
"appearance": {
"outfit": "A barely-there, ritual-style ivory silk drape partially submerged in the milk bath, clinging softly to her skin. The fabric is delicate and translucent, edged with fine gold-thread embroidery for a sensual, sacred aesthetic.",
"accessories": "Minimal ritual jewelry—thin gold collar necklace resting above the milk surface, delicate arm cuff, subtle finger ring—kept refined to maintain focus on beauty and skin.",
"hair": "Her hair is sleek and ritual-polished, partially damp and slicked back at the crown, with soft wet strands framing her face naturally, reflecting candlelight.",
"makeup": "High-fashion Cleopatra beauty makeup with ceremonial artistry—perfectly sculpted brows, elongated black kohl eyeliner, vibrant eyeshadow layered in turquoise, teal, emerald, sapphire blue, and metallic gold. Beneath the eyes, subtle artistic ink-inspired accents echo ancient Egyptian symbolism. Her skin is luminous and dewy, cheeks softly flushed, and lips finished in a nude-rose satin sheen."
},
"ritual_props": {
"bath": "A carved alabaster bathtub filled with warm milk infused with honey, almond oil, and lotus essence.",
"floating_elements": [
"Fresh lotus flowers",
"Soft white rose petals",
"Delicate gold flakes shimmering on the milk surface"
],
"beauty_products": [
"Small golden perfume vial with lotus and myrrh oil",
"Alabaster bowl of honey and milk mixture",
"Clay jar of mineral kohl and pigment powders"
]
},
"background": {
"macro_environment": "An intimate royal bathing chamber within Cleopatra’s palace, designed as a sacred beauty sanctuary.",
"midground_details": "Soft linen curtains, glowing oil lamps, tall candles, and subtle steam rising from the bath, creating a warm and sensual atmosphere.",
"micro_elements": "Milk ripples around her skin, floating petals touching her shoulders, tiny droplets of moisture on her collarbones, reflections of candle flames on gold jewelry, visible stone texture on the tub, and delicate fabric translucency—every detail sharply rendered with zero blur."
},
"lighting": {
"type": "Warm cinematic candlelight combined with soft ambient palace glow.",
"effect": "Golden highlights sculpt her face and skin while gentle shadows enhance depth, intimacy, and divine beauty."
},
"camera": {
"camera_type": "DSLR",
"resolution": "8K UHD",
"lens": "85mm prime lens for beauty editorial compression",
"aperture": "f/8 for maximum facial and detail sharpness",
"iso": 100,
"shutter_speed": "1/160s",
"focus": "Extreme sharp focus on facial features, skin texture, makeup details, and milk surface, no bokeh, no blur"
},
"style": "Luxury beauty editorial, sacred milk bath ritual, ancient Egyptian goddess realism, intimate yet powerful, ultra-detailed, luminous skin focus, cinematic elegance"
}](https://ssfuture.shop/wp-content/uploads/ai_gen_1766006026-300x167.png)
