Jeremy leads the Policy Management team, which is responsible for staying current with regulatory changes and how they impact the firm’s investment adviser clients.
On June 11, 2025, the Securities and Exchange Commission (“SEC”), jointly with the Commodity Futures Trading Commission (“CFTC”), voted to further extend the compliance date for the amendments to Form PF that were adopted on February 8, 2024.
On May 19, 2025, SEC Chair Paul Atkins gave a speech during his first SEC Speaks conference as SEC Chairman. In his remarks, Atkins covered the SEC’s current priorities, most of which should come as no surprise: innovation at the SEC, cryptocurrency, FinHub, investing in private funds, and the Consolidated Audit Trail (CAT). More details on each are included below.
On April 29, 2025, the SEC granted an order to FS Credit Opportunities Corp. and its affiliates (the “Applicants”) that permits business development companies (“BDCs”) and closed-end management investment companies (“CEFs”, collectively with BDCs “Regulated Funds”) to participate in co-investment transactions with affiliated funds and accounts that would otherwise be prohibited by Rule 17(d) of the Investment Company Act.
On March 31, 2025, Chairman French Hill and all of the Republican members of the House Financial Services Committee sent interagency letters requesting the rescission, modification, or re-proposal of specific Biden-Harris administration actions to the Consumer Financial Protection Bureau, the Federal Deposit Insurance Corporation, the Federal Reserve, the Office of the Comptroller of the Currency, and the Securities and Exchange Commission (SEC).
On March 7, 2025, the Securities and Exchange Commission (“SEC”) announced settled charges against a registered investment adviser, its former managing partner, and its former chief operating officer for misappropriation of private fund and portfolio company assets.
After several preliminary injunctions were lifted it appeared that the CTA and its required reporting of beneficial ownership information were back on. In the announcement, FinCEN granted an additional 30-day extension to the reporting deadline, placing the new deadline on March 21, 2025.
On February 4, 2025, SEC Commissioner Hester M. Peirce issued a statement on the future of the Crypto Task Force. The Task Force’s approach starts with engagement with the crypto industry and the public to provide regulatory clarity, while simultaneously disentangling the many threads of active litigation surrounding crypto.