Latest Developments

• SEC Issues Notice on ETF Share Class Relief

• President Trump Signs Executive Order Broadening Access to Alternative Investments in Retirement Accounts

• SEC Names Margaret Ryan as Director of the Office of Enforcement

• SEC Spring 2025 Regulatory Agenda

Latest Developments: Funds

• SEC Revises Stance on Registered Closed-End Funds Providing Retail Investors with Increased Access to Private Funds

Latest Developments: Advisers

• SEC and CFTC Extend Compliance Date for Amendments to Form PF

• Extension of Effective Date of Anti-Money Laundering/Countering the Financing of Terrorism Program and Suspicious Activity Report Filing Requirements for Registered Investment Advisers and Exempt Reporting Advisers (AML Rule)

Litigation/Enforcement Actions

• SEC Drops Liquidity Rule Case, Including Charges Against Independent Board Members

• Shareholders File Lawsuits Over Accounting Practices