From regulators sharpening their focus to markets reshaping the trading day, this week brought developments that compliance teams, in-house counsel, and market participants will want on their radar. Here are five stories worth your attention:

• SEC sets its 2027 exam agenda. The Division of Examinations will zero in on advisers’ fiduciary duties, conflicts, fees, and private fund oversight, along with Reg BI, AML controls, cybersecurity, and how firms govern their use of AI. Read more.
• FINRA overhauls outside activities rules. New Rule 3290, effective October 25, 2027, replaces Rules 3270 and 3280 with a single, narrower framework focused on investment-related activities, and changes how work at unaffiliated investment advisers is treated. Read more.
• AI’s cost savings fall short. Gartner finds 77% of board members expect AI to cut costs, yet only 3% of organizations are beating their savings goals through productivity gains alone, suggesting AI’s real value may lie in innovation and growth. Read more.
• Private equity’s $300 billion debt wall. The Wall Street Journal reports that roughly $300 billion in risky loans owed by PE-backed companies, about a third tied to software, comes due in 2028 and 2029, pointing to tougher refinancing terms or restructurings ahead. Read more.
• NYSE stretches the options trading day. Eligible NYSE American Options, including SPY, IWM, GLD, and several big tech names, can now trade from 7:30 to 9:25 a.m. ET and from 4:00 to 4:15 p.m. ET. Read more.

But wait, there’s more. This week’s full roundup also covers the CFTC and NBA’s new pact to protect integrity in prediction markets, NFA’s shorter retesting wait times for futures and forex exams, and ESMA’s push to simplify EU Taxonomy reporting. Read the full update from FiSolve here.

AI takes center stage in this edition, as regulators on both sides of the Atlantic push firms to innovate responsibly. We also cover a Supreme Court petition challenging FINRA, a cooling job market, new cross-border cooperation, and a major crypto enforcement action:

• The SEC’s Brian Daly urges advisers not to wait for guidance before adopting AI, and outlines a “responsible retailization” initiative
• A broker asks the Supreme Court whether constitutional challenges to FINRA proceedings must first go through the SEC
• Hiring slows as the labor market cools, which may ease recruiting pressure in compliance and risk roles
• The SEC will host a November 9 roundtable on machine-understandable data and super intelligence
• The FCA calls for responsible AI adoption as finance moves toward an “agentic” future
• The SEC and France’s AMF sign a supervisory MOU covering cross-border investment firms
• Ireland’s central bank fines Coinbase Ireland €3.25 million for safeguarding and outsourcing failures

Read the full update from FiSolve here.

Private markets and crypto took center stage this week, as regulators on both sides of the Atlantic moved to widen access while raising the bar on transparency and safeguards. Here are five highlights, and there’s plenty more in this week’s roundup:

• SEC opens the door wider to private markets: Proposed amendments would broaden performance-fee eligibility, modernize interval funds, and permit multiple share classes for closed-end funds. The SEC is also seeking comment on expanding the accredited investor definition to include credentialed professionals.
• A new crypto custody framework: The SEC’s proposal (Release No. IA-7023) would let advisers self-custody certain crypto assets or use qualifying state trust companies, subject to enhanced safeguards.
• Valuation under the microscope: SEC staff warn that boilerplate won’t cut it. Private asset valuations, especially in private credit, need robust support and tailored disclosure.
• FCA opens its crypto gateway: UK crypto firms can now apply for authorization. Applications are expected by February 28, 2027, ahead of the regime’s October 25, 2027 start date.
• New York expands personnel file access: Starting November 8, 2026, employers must provide current and former employees with free copies of their personnel records within five business days of a written request.

That’s just a sampling. Also in this week’s roundup: an SEC case on referral conflict disclosures, the SEC’s new examination handbook, FINRA’s unified Regulatory Operations, CFTC guidance on crypto and tokenized collateral, ESMA’s 2027 priorities, and more. Read the full update from FiSolve here.

From a possible rollback of the pay-to-play rule to a $300 million lesson in due diligence, this week’s news is a reminder that regulatory relief and enforcement risk often arrive side by side. Here are five stories worth your attention, with plenty more in this week’s roundup:

• SEC proposes scrapping the IA pay-to-play rule: Rescinding Rule 206(4)-5 would eliminate the two-year compensation ban and related requirements. Until the proposal is adopted, advisers should keep their current policies in place.
• A $300 million due diligence lesson: The SEC found that an adviser and its CEO breached their fiduciary duties by ignoring red flags in a fund liquidation strategy that ended in steep losses after a SPAC deal.
• Repeated exam findings lead to a Reg SCI penalty: A trading platform operator agreed to a $575,000 penalty after years of unaddressed cybersecurity and systems policy deficiencies.
• CFTC flags “mention markets”: A staff advisory warns that event contracts tied to what people say or where they appear carry elevated manipulation risk.
• IPOs are back: SEC data show 208 IPOs raising more than $137 billion, up from 180 IPOs raising about $27 billion in the same period of 2025.

And that’s not all. Also in this week’s roundup: a $1.2 million FINRA restitution order over UIT supervision, the SEC EXAMS director’s push for more transparent exams, ESMA’s new supervisory priority on AI and tokenisation, and fresh data on pay, flexibility, and retention in financial services. Read the full update from FiSolve here.

Innovation and accountability went hand in hand this week. Regulators made room for tokenized trading and new crypto business models while sharpening expectations for compliance programs and whistleblower incentives. Here are four highlights, with more to explore in this week’s roundup:

• SEC grants an “innovation exemption” for tokenized stocks: A five-year conditional order lets Tokenized Securities Venues trade tokenized NMS stock using automated market makers and liquidity pools. It comes with safeguards like volume limits, equal shareholder rights, and auditable smart contracts, and the SEC is seeking public comment.
• SEC risk alert on annual compliance reviews: Examiners found recurring issues with the timeliness of advisers’ reviews, documentation, adherence to their own policies, and follow-through on corrective actions.
• CFTC finalizes whistleblower award presumption: Awards of $5 million or less will be presumed at 30 percent, subject to CFTC discretion. The rule is modeled on the SEC’s Rule 21F-6(c).
• FCA maps out its crypto regime: New guidance explains which activities will need authorization, including stablecoin issuance, trading platforms, custody, and staking, ahead of the regime’s October 25, 2027 start date.

And there’s more. Also in this week’s roundup: the SEC’s proposal to rescind the IA pay-to-play rule, CISA’s case for using cyber decoys to catch attackers, and a look at how AI and skills-based hiring are reshaping HR priorities for 2027. Read the full update from FiSolve here.