News & Insights: Cyber Solutions

The Countdown is on: Time to Comply with Amended Reg S-P

The compliance deadline for larger advisers (those with $1.5B or more in AUM) is less than two weeks away (Dec. 3, 2025). While much of what the previous administration proposed has been tossed or postponed, the SEC has made it clear that Amended Reg S-P is not only here to stay, but it’s also a key focus area.

SonicWall Security Incident

SonicWall, a popular network security company that advisers and other financial institutions use for its firewall or router products, recently confirmed a security incident resulting in unauthorized access to configuration backup files for customers using its cloud backup service.

Custody Relief for Crypto Assets: SEC No-Action Letter Benefits Advisers and Registered Investment Companies

On September 30th, the SEC Division of Investment Management gave an answer to the most challenging question for crypto assets: What entities are qualified custodians for crypto assets? Since qualified custodians must meet the definition of a banking institution for both the Adviser Act’s Custody Rule and the Investment Company Act’s.

SEC on Amended Reg S-P: This is Happening

On September 17, 2025, The Securities and Exchange Commission (“SEC”), jointly with the Commodity Futures Trading Commission (“CFTC”), voted to extend the compliance date for the amendments to Form PF again. 

Regulatory Preparedness 2025: Amended Reg S-P

Despite efforts to postpone Amended Regulation S-P, industry experts believe that the SEC is unlikely to postpone Amended Regulation S-P. Given the impending deadline, advisers should work diligently to meet the quickly approaching compliance date.

Study: Over Half of Employees Admit Pasting Sensitive Data into LLMs

According to a recent survey, 78% of employees are already using AI tools at work, even when their companies haven’t set clear policies.

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.

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.

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.

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).

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Regulatory Calendar

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Fairview has been providing streamlined solutions to providers in the financial services industry since 2005. We are part of ViewPoint Partners, our employee-owned parent company for both Fairview and FilePoint, which provides regulatory reporting solutions for registered investment companies.

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