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.

Flash Reports
16 Jun, 2025

SEC Formally Withdraws 14 Gensler-Era Proposals

On June 12, 2025, the SEC announced a new final rule “formally withdrawing certain notices of proposed rulemaking issued between March 2022 and November 2023.” These withdrawn proposals make up every remaining proposal under Gensler’s leadership of the SEC during the Biden administration.

Further Extension of Amended Form PF Compliance Date to October 2025

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.

SEC’s Director of Investment Management Stepping Down

On June 10th, the SEC announced that Natasha Vij Greiner, Director of the Division of Investment Management since March of 2024, is departing the SEC effective July 4, 2025.

Flash Reports
09 Jun, 2025

FINRA’s 2025 Entitlement Certification Period Closes June 16th

The 2025 FINRA Entitlement Certification period is currently open and must be completed by June 16, 2025.

Regulation S-P Speech from the Director of the SEC’s Division of Examinations

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.

Flash Reports
19 May, 2025

SEC Chair Paul Atkins Outlines Priorities in SEC Speech

Anti-Money Laundering (AML)
16 May, 2025

Regulatory Preparedness 2025: Amended Reg S-P and AML/CFT

As we approach the mid-point of 2025, two compliance deadlines stand out for compliance professionals, amended Regulation S-P and FinCEN’s Anti-money laundering/countering the financing of terrorism Rule (the “AML/CFT” Rule).

SEC Eases Burden of Co-Investment for BDCs and Closed-End Funds

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.

Republican Members of House Financial Services Committee Outline Biden-Harris Era SEC Rules that Should be Withdrawn

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).

Flash Reports
28 Mar, 2025

The SEC Votes to End Its Defense of Public Company Climate Disclosure Rules

On March 27, 2025, the Securities and Exchange Commission voted to stop its defense of the rules requiring public companies to disclose climate-related risks.