News & Insights

Check out our Flash Reports for the latest SEC- and compliance-related news, trends, and insights.

Flash Reports
03 Sep, 2026

2026 Fall Filing Preview

Fall filing season is here — and between Form PF, 13F, 13G, and three federal holidays, Q4 can get crowded. Here's your at-a-glance guide to what's due and when, so nothing catches your team off guard.

SEC
09 Jul, 2026

SEC’s New Retail Fraud Working Group: What Advisers Should Expect

On July 7, 2026, the SEC announced the creation of the Retail Fraud Working Group designed to strengthen the Division of Enforcement’s efforts to identify and combat fraud targeting everyday investors. The group will focus on identifying offering frauds, pump-and-dump schemes, market manipulation, and breaches of duties to customers by investment advisers and broker dealers.

CyberSecurity
07 Jul, 2026

SEC Request Letter Could Signal Reg S-P Sweep

A recent SEC document request letter could be indicative of a long-predicted sweep of firms for the SEC to evaluate compliance with Amended Regulation S-P, according to at least one news outlet. Thirty items gleaned from a new SEC document request letter focus on cybersecurity protections and breaches.

SEC Fiduciary Duty Enforcement Action: What Triggered the Charges

On June 8, 2026, the SEC announced settled charges against an investment adviser and its former CEO for breaches of fiduciary duty and other violations. According to the order, the firm failed to disclose conflicts of interest connected to investments it recommended to advisory clients.

SEC
12 Jun, 2026
Jeremy McCamic

SEC Risk Alert on Compensation Conflicts: What Your Compliance Program Should Address

On June 9, 2026, the SEC Division of Examinations published the first Risk Alert of 2026. The Risk Alert is aimed at investment adviser conflicts of interest from compensation, revenue, or other economic benefits.

Regulation S-P
03 Jun, 2026

Amended Reg S-P Deadline Is Here: What Smaller Advisers Must Have in Place

After months of preparation, today’s the day: All smaller firms ($1.5B or less in AUM) must comply with Amended Regulation S-P by today, June 3, 2026. These firms now join the larger firms that began complying on December 3, 2025.

SEC
19 May, 2026
Jeremy McCamic

SEC Ends the ‘No-Admit/No-Deny’ Gag Rule: What Changes for Settlements

On May 18, 2026, the SEC rescinded the “no-admit/no-deny” policy under Rule 202.5(e), which stated that when the Commission imposes a sanction, it will not accept a settlement unless the defendant or respondent agrees never to publicly deny the allegations in the complaint or administrative order.

SEC
11 May, 2026
Jeremy McCamic

Qualified Client Threshold Rising June 29: What It Means for Performance-Based Fees

The SEC issued a final order that adjusts the dollar amount thresholds for “qualified clients” under Rule 205-3 of the Investment Advisers Act.

SEC
04 May, 2026
Jeremy McCamic

SEC Proposes Higher Qualified Client Threshold for Performance Fees

The SEC issued a notice of intent that would adjust for inflation the dollar amount thresholds under the Investment Advisers Act that permit investment advisers to charge performance-based fees to “qualified clients.”

CyberSecurity
28 Apr, 2026

Fidelity’s $1.25M Cybersecurity Fine: What It Means for Your Firm’s Controls

Fidelity Brokerage Services has agreed to pay $1.25 million after it failed to enforce “appropriate cybersecurity controls” in 2024, leading to a significant data breach affecting approximately 77,000 customers, according to an announcement by Secretary of the Commonwealth of Massachusetts William Galvin on April 27.

SEC
27 Apr, 2026
Jeremy McCamic

SEC & CFTC Crypto Guidance: Is Formal Rulemaking Coming Next?

The SEC and CFTC have released interpretive guidance on the application of the federal securities laws to crypto assets and transactions involving crypto assets.