The SEC Division of Examinations issued a Risk Alert on December 16, 2025, providing the Division’s observations regarding advisers’ compliance with the Testimonials and Endorsements Provisions and Third-Party Ratings Provisions of the Marketing Rule. Specifically, the Division addresses observations regarding the satisfaction
SEC Order Granting Temporary Exemptive Relief from Compliance with Rule 13f-2 and Form SHO
On December 3, 2025 the SEC issued an Order granting temporary exemptive relief from compliance with Rule 13f-2 and Form SHO. Pursuant to Rule 13f-2 an “institutional investment manager” (which by definition includes investment advisers) is required to file Form SHO with
Division of Examinations: SEC Fiscal Year 2026 Examination Priorities for Investment Advisers
On November 17, 2025, the Division of Examinations of the United States Securities & Exchange Commission (the “Division”) published the Fiscal Year 2026 Examination Priorities. In addition to investment advisers, the Division has examination responsibility for broker-dealers, investment companies, self-regulatory organizations, clearing agencies,
FinCEN Announces Postponement and Reopening of the Investment Adviser Anti-Money Laundering Rule
On July 21, 2025 the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) announced its intention to postpone the effective date of the final rule establishing the investment adviser anti-money laundering obligations – the IA AML Rule. In the announcement,
Sign Up
Sign up here to receive DCS Insights and Alerts and stay on top of important compliance topics that may impact your business.