News & Insights

5 Proposed Rules from the SEC That Could Affect Your Firm


The SEC released its latest regulatory agenda, which outlines the commission’s pending rules and regulations. Under the direction of Chairman Gensler and a new slate of SEC leadership, the priorities of the commission focus heavily on investor protections, market efficiency, and capital formation accessibility. The agenda includes nearly 50 in-progress rules that span the regulatory spectrum. Below are five proposed rules for RIAs to stay updated on in the coming months:


  1. Special purpose acquisition companies, or SPACs, are a top concern of regulators. With the emerging popularity of these investment products, the SEC recognizes the need for comprehensive regulations. Though little is known about the specific provisions of the upcoming rule, the commission has released several early guidance statements for groups working with SPACs.
  2. Climate change disclosure obligations are frequently demanded by market participants concerned with the sustainability of investments. Following the SEC’s 2010 Climate Change Guidance, public interest in these disclosures has continued to increase. The SEC is currently accepting public comments regarding future climate change disclosures.
  3. Universal proxy card rules are nearing completion. The rules will require use of the cards in all non-exempt director election contests. The regulations have been in process since 2016 and the SEC recently reopened public comments on the proposed rule.
  4. Cybersecurity risk governance is top of mind for regulators and market participants given the recent wave of high-profile ransomware Reformed cybersecurity regulations would help protect adviser and investor data as cyber threats become more sophisticated.
  5. Environmental, social, and governance (ESG) rules are a hot topic among regulators, advisers, and investors as socially responsible investing increases in popularity. Though some guidance has been released, the passing of these regulations will be the first major ESG action from the SEC.


The SEC’s regulatory agenda is stacked with developing regulations that, once passed, will have a lasting impact on your firm’s operations and compliance program. Your firm should stay up-to-date on proposed rules, contribute to public comments as you see fit, and prepare to adopt new regulations when required.

Keeping track of new regulations can be tedious and time consuming. That is why Fairview is here to close the gap. Our team of compliance experts stays up to date on the latest rules and requirements from the SEC. Contact us today for more information about what we can do for your firm.