News & Insights

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

Smaller Advisers: Time to Comply with Amended Reg S-P

The final compliance deadline of Amended Reg S-P is finally here. For smaller entities, who manage less than $1.5B in AUM, there are less than two months until the June 3, 2026, deadline.

Fifth Circuit Orders SEC to Review Short Selling Rules

On August 25, 2025, the Fifth U.S. Circuit Court of Appeals remanded two rules adopted during the Biden administration, giving hedge fund associations a partial victory. The rules were not vacated. However, the Securities and Exchange Commission (“SEC”) must now review them in light of the court’s opinion.

CCO Charged for Backdating Annual Reviews, and Other Violations of the Advisers Act

On July 11, 2025, the SEC announced settled charges against a registered investment adviser (“RIA”), its CCO, and its president for creating backdated documents and producing them during an SEC examination; failing to adequately disclose conflicts of interest; and overbilling client accounts.

Trump Signs Executive Order Allowing 401(k) Investments in Alternative Assets

On August 7, 2025, President Trump signed an Executive Order seeking to allow 401(k) retirement plans to invest in alternative assets such as private equity, real estate, and cryptocurrencies.

Artificial Intelligence
04 Aug, 2025

The SEC Announces Artificial Intelligence Task Force for Agency Innovation and Efficiency

On July 21, 2025, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) announced its intention to postpone the effective date of the AML/CFT Rule from January 1, 2026, until January 1, 2028.

CyberSecurity
31 Jul, 2025

SEC Approves In-Kind Creations and Redemptions for Crypto ETPs

Anti-Money Laundering (AML)
22 Jul, 2025

AML/CFT Compliance Deadline Postponed by FinCEN

CCO Charged for Altering Records Provided in SEC Examination

On July 15, 2025, the SEC announced settled charges against a CCO of a registered investment adviser for altering records and producing fictitious records in response to SEC examination requests for information.

Flash Reports
16 Jul, 2025

Law Firm Suffers Data Breach; Exposes Sensitive Client Data

A law firm with asset manager clients, recently notified authorities in several states that sensitive data of more than 360 individuals was exposed in a recent data breach.

Flash Reports
30 Jun, 2025

Phishing Warning: Fake SEC Emails Sent to Multiple RIAs

Multiple reports indicate an active phishing operation targeting Registered Investment Advisers with fraudulent emails impersonating official SEC communications.

CyberSecurity
30 Jun, 2025

16 Billion Exposed Login Credentials Following Compilation of Data Breaches

Several news sources recently reported that a data breach resulted in 16 billion login credentials being exposed. While this was not a single breach, and rather a compilation of leaked credentials stolen by infostealers, exposed in data breaches, and via credential stuffing attacks, it does reinforce the risk associated with compromised credentials.