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.
Chief Compliance Officers face the challenge of running a comprehensive yet efficient compliance program that nimbly adapts to changing regulatory requirements and business practices. To assist you, our friends at SEC3 have put together a three-part series to discuss common compliance program mistakes investment advisers make and how to avoid them.
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.