Regulatory Roundup for February and March 2025
Welcome to our February and March 2025 Regulatory Roundup, where we provide practical advice on the latest regulatory headlines. We start this issue with some clarifications about performance advertising under the SEC’s Marketing Rule and a new rule that requires Commission approval before the Division of Enforcement can use its full investigative powers. Next, we review the SEC’s changes in its attitude toward crypto assets, indicating a more measured regulatory approach. Similarly, the Division of Corporate Finance relaxes the “general solicitation” Rule 506(c) under Regulation D, allowing issuers more leeway in determining whether investors are truly accredited. Then we see the new U.S. President flexing his executive muscle by requiring a White House review of all new regulations. The Treasury Department backs off the beneficial ownership reporting requirements under the Corporate Transparency Act. We will also discuss how the SEC also took pity on institutional investment managers by granting a one-year exemption from reporting short sale data (Form SHO) – until February 17, 2026. Finally, we discuss a few of the latest SEC settlement orders. Enjoy!
