Latest Developments: Funds

• Former SEC Commissioner Atkins to Serve as SEC Chair
• SEC Announces 2025 Examination Priorities

Latest Developments: Advisers

• SEC Issues Alert Regarding Risk-Based Approach to Funds
• SEC Guidance: Tailored Shareholder Report Common Issues

Litigation/Enforcement Actions

• Cherry-Picking Complaint
• SEC Charges Adviser for Misleading ESG Disclosures
• SEC Charges Rimar Capital Entities for Making False Statements Regarding Use of AI

Other News of Interest

Corporate Transparency Act Blocked by U.S. Court of Appeals

As of the date of this publication, companies subject to the Corporate Transparency Act (CTA) reporting requirements are not required to file beneficial ownership information reports with the Financial Crimes Enforcement Network (FinCEN) in light of a recent federal court order. According to FinCEN, reporting companies will not be subject to liability if they fail to file reports while the order remains in place. Nonetheless, companies can voluntarily file reports with FinCEN. For additional information, please consult FinCEN’s website.

In response to the recent injunction, the U.S. Department of Justice (DOJ), on behalf of FinCEN, has asked the U.S. Supreme Court to reinstate the CTA’s reporting requirements, pending a ruling on the government’s appeal. Alternatively, the DOJ has asked that the injunction’s scope be narrowed to apply to the plaintiffs named in the case.