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
06 Mar, 2025

Trump Administration to Terminate Building Leases for Philadelphia and Los Angeles Regional Offices

the Securities and Exchange Commission (SEC) informed employees on March 3, 2025, via email, that the Trump administration is preparing to terminate the building leases for the regional SEC offices in Philadelphia and Los Angeles.

Flash Reports
21 Feb, 2025

The SEC Unveils the Cyber and Emerging Technologies Unit

On February 20, 2025, the SEC announced the creation of the Cyber and Emerging Technologies Unit (“CETU”), replacing the existing Crypto Assets and Cyber Unit, in an effort to combat cyber-related misconduct and to protect retail investors from bad actors in the technologies space.

Flash Reports
19 Feb, 2025

SEC Announces Record Quarter for Number of Enforcement Actions

The SEC announced on January 17, 2025, that they have filed a total of 200 enforcement actions in the first quarter of fiscal year 2025, including 118 standalone enforcement actions. The Division filed 75 actions in the month of October alone.

The SEC’s Crypto Task Force, Its Priorities, and an Invitation to Engage

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.

Form SHO Deadline Pushed Back to 2026

The SEC issued a press release on Friday, February 7th, with a decision to provide a temporary exemption from compliance with Rule 13f-2 and Form SHO reporting until 2026. As a result of the exemption, the first reporting period will now be January 2026

Flash Reports
04 Feb, 2025

Form SHO Misconceptions: How to Know If You Need to File

Under Rule 13f-2, investment advisers must monitor their month to month short selling activity in equity securities. If a reporting threshold is met during a calendar month, then a Form SHO filing is due 14 calendar days after month end. January 2025 was the first month after the compliance date of Rule 13f-2.

More Court Ordered Whiplash on Beneficial Ownership Information Filings under the Corporate Transparency Act

On January 23, 2025, the U.S. Supreme Court granted the government’s motion to stay the nationwide preliminary injunction issued by a Texas district court in Texas Top Cop Shop, Inc. This would mean that the reporting of Beneficial Ownership Information under the Corporate Transparency Act (CTA) is back on.

Flash Reports
27 Jan, 2025

SEC Posts 2025 Names Rule FAQs

On January 8, the SEC’s Division of Investment Management issued new FAQs on the Investment Company Names Rule, which was amended in 2023. These amendments aim to increase shareholder protection by increasing the scope of funds required to adopt a policy to invest at least 80% of its assets based on the investment approach suggested by the fund name, as well as notice and recordkeeping requirements related to these policies.

Flash Reports
21 Jan, 2025

Trump Administration Initiates Regulatory Freeze on Pending Rules

In a memorandum released by the White House on Monday, President Trump ordered all government agencies to cease all proposals or issuance of any new rules and to withdraw any unpublished rules that have been sent to the Office of the Federal Register but have yet to be published in the Federal Register.

IAR Continuing Education Requirements: What Does Your CE Status Mean?

Individuals registered as IARs may be required to complete annual Continuing Education (“CE”) credits. The IAR CE requirement was put forward by the North American Securities Administrators Association (“NASAA”) to close the education gap for IARs who are not otherwise subject to CE requirements