Private Markets, Tokenisation, and Who Gets Left Behind

Today, I'm joined by one of the sharpest emerging voices in capital markets policy, — Phoebe Chan is a Capital Markets Policy researcher at the CFA Institute's Research and Policy Center, one of the most influential bodies shaping investment standards and market governance globally.At the Research and Policy Center, Phoebe works at the frontier of the questions that matter most for the future of markets — digital finance, tokenisation, private market access, and the investor-protection frameworks that have to evolve alongside them. Today, we're unpacking one of the most consequential questions in modern markets — what happens when the gates to private markets and tokenised assets open to retail investors, and whether the rules protecting those investors are keeping pace with the technology transforming how markets work.