December 12, 2023
On Wednesday, Dec. 6, the Securities and Exchange Commission (SEC) issued an updated regulatory agenda, which includes 12 investment management-related rule proposals that have yet to be adopted. The agency’s target date for finalizing each of those proposed rules is April 2024, which means it will be another busy six months for the SEC.
The SEC will likely work toward finalizing many of the proposed rules before summer 2024, otherwise they could be undone by the Congressional Review Act.
Experts speculate that the SEC may move forward most quickly with two of its proposed rules: The proposed Outsourcing Rule, which would require investment advisers to increase their oversight of third-party vendors, and the proposed Cybersecurity Risk Management Rule, which would significantly enhance cybersecurity-related requirements for investment advisers.
What does this mean for me?
While dates and proposed rules set forth in the regulatory agenda are subject to change, investment advisers would be wise to familiarize themselves with the rules, particularly those that are considered to be most likely to be finalized. The proposed Outsourcing by Investment Advisers Rule and the proposed Cybersecurity Risk Management Rule go far beyond current requirements and will require a significant amount of time to implement. If you have any questions or would like guidance on any of the SEC’s proposed rules, please contact us today to speak with a regulatory expert.
