From our friends at FiSolve, this week’s financial and regulatory news:
Read the full update here.
From our friends at FiSolve, in this week’s financial and regulatory news, several significant developments have taken center stage:
– **SEC Compliance Extensions**: The SEC and CFTC have extended the compliance date for Form PF amendments to October 1, 2025, giving firms more time to adapt to the changes originally set for earlier deadlines.
– **Defined Benefit Plans Reimagined**: A survey of 173 CFOs reveals a shift in strategy, with half opting to retain their defined benefit plans despite ongoing market pressures. Interest rates and inflation remain key factors influencing these decisions.
– **Swiss Investment Adviser Registrations**: The SEC has resumed processing registration applications for investment advisers based in Switzerland, following productive discussions with FINMA. This paves the way for smoother cross-border regulatory coordination.
– **EU Supervisory Principles Released**: ESMA has rolled out 14 principles aimed at managing third-party risks, emphasizing uniformity and effectiveness in supervisory practices across the EU.
– **Investor Sentiment in the US**: The Risk Appetite Index inched up to -13% in June, marking cautious optimism with reduced equity market hesitance. Investors foresee modest gains for the S&P 500 this year.
– **Challenges in Skills-Based Hiring**: A recent survey highlights hiring difficulties in the US and UK, with 63% of employers finding it harder to recruit talent and 70% of job seekers struggling to find roles. The rise of AI in hiring processes is noted, with 65% of employers adopting it and reporting significant benefits.
Read the full update here.
From our friends at SEC3, a recap of Chairman Atkins’ remarks at SEC Speaks where he laid out his regulatory vision for the SEC.
It was a forward-looking agenda focused on innovation, market access, and regulatory clarity. Drawing from historical examples and past Commission decisions, Atkins emphasized the need for the SEC to enable, not impede, technological and financial innovation.
Read more here.
From FiSolve, the United States Department of Justice announced five individuals were charged in a 19-count indictment for their participation in a scheme to trade securities based on material nonpublic information about a merger between two pharmaceutical companies that resulted in profits of over $600,000. The defendants are charged with securities fraud, insider trading and conspiracy. If convicted, they could face sentences of 25 years in prison. Read more here.
In testimony before the United States Senate Appropriations Subcommittee on Financial Services and General Government, SEC Chairman Paul Atkins discussed a return to the SEC’s core three-part mission: protecting investors; facilitating capital formation; and maintaining fair, orderly, and efficient markets. The Chairman requested a budget level that is flat as compared to both the FY 2025 and FY 2024 enacted funding levels. The Chairman also described targeted, common-sense reorganizations to come at the SEC and spoke of the importance of regional offices for risk management and other purposes. Read more here at FiSolve.