From our friends at SEC3, their December Regulatory Roundup, where they provide practical advice on the latest regulatory headlines. They start this issue with the SEC’s 2024 enforcement results, which fell somewhat short after its 2023 banner year. They also say goodbye to SEC Chair Gary Gensler, who tendered his resignation after Donald J. Trump won his presidential bid. Given the president-elect’s views on government, I expect the next chair to have a less aggressive regulatory agenda. For firms following the ongoing drama in the Fifth Circuit Court of Appeals about the Corporate Transparency Act, the current answer as of December 26 is that the requirements to report Beneficial Ownership are stayed. But stay tuned since that answer may change once again. Finally, they have included a few enforcement cases, one on the misappropriation of client funds and two on cherry-picking. Read more here.
