Latest Developments

• SEC Regulatory Agenda Spotlights E-Delivery, Custody, Books and Records, Pay to Play and Affiliated Transactions

• SEC Releases 2025 Enforcement Results and Names David Woodcock as Director of the Division of Enforcement

• SEC and CFTC Interpret Application of Federal Securities Laws to Crypto Assets

• Supreme Court Rejects Private Right of Action Under Investment Company Act for Contractual Disputes

Latest Developments: Advisers

• SEC Risk Alert – Investment Adviser Obligations Related to Economic Conflicts of Interest

Latest Developments: Funds

• SEC Investment Advisory Committee Approves Fund Proxy Voting Recommendations

Recent Rule Proposals

• SEC and CFTC Propose Amendments to Form PF

• FinCEN Proposes AML Reform

• DOL Proposes Creation of an ERISA Safe Harbor for Investment Alternatives

Additional Developments

• Defendants Can Deny SEC Allegations in Settlements