SEC3 Year End Take-Aways
December 22, 2025
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As we close out 2025, we reflect on the regulatory developments, compliance challenges, and operational lessons that shaped the year for investment advisers.
As we close out 2025, we reflect on the regulatory developments, compliance challenges, and operational lessons that shaped the year for investment advisers.
The SEC’s Marketing Rule case against Meridian shows why advisers must verify claims and maintain strong compliance controls.
September 30 is the SEC’s fiscal year-end, so it’s no surprise to see an uptick in enforcement cases this month. The latest slew of settlements
In this edition of Regulatory Roundup, we discuss the implications of the Fifth Circuit’s striking down the Private Fund Rules, a survey on how much time advisers are spending on compliance with the Marketing Rule, a case study on how not to show fund performance and an SEC settlement where the obligations of Reg BI and fiduciary duty are blurred.
Check out our regulatory update for May 2024, including Amendments to Regulation S-P, Proposed CIP requirements, the latest SEC Risk Alert on Marketing Rule, and more!
The SEC’s Risk Alert provides a list of Marketing Rule deficiencies — a must read!
SEC slams firms for using hypothetical performance on websites. See our analysis.