News

October 15, 2025

The panelists discuss how the SEC has extended implementation timelines, abandonment of litigation, and the withdrawal of certain rulemaking proposals- and how this demonstrates where the Commission will focus its time. The podcast also discusses recent staff changes including the new head of the Division of Enforcement and the Division of Investment Management.

October 14, 2025

The program will highlight the importance of product marketing, understanding the “Client Investing Journey,” identifying metrics to measure success, working within compliance and regulatory requirements, and how board oversight of distribution intersects with overall marketing strategy.

October 13, 2025

The report, which includes a series of recommendations to the Commission, highlights investor protection challenges in expanding retail access to private markets but notes “the optimal way for retail investors to access private market assets is through registered funds, which allow retail investors to invest in broadly diversified funds that contain private market assets, often alongside public market assets.”

October 8, 2025

According to Broadridge, “it is likely that investors will experience a one‑time capital gains impact in the year the ETF share class launches.” It will be crucial for boards and management to determine whether this event would still meet the threshold for being in the best interest of each class for shareholders.

October 7, 2025

This webinar will discuss directors' crucial oversight role on understanding the operational risks of the adviser versus stepping in to management roles.

October 6, 2025

On September 29, the Securities and Exchange Commission (SEC) signaled through a notice of application its intent to green light approval of dual-share class offerings under the Investment Company Act of 1940. This notice comes after the third amended application by Dimensional Fund Advisors (DFA) on September 26, which added a discussion of declaring dividend payments and barring secondary market transactions in the mutual fund share class.

October 2, 2025

This week, MFDF announced the addition of three new members to its own board: Fran Cashman, Jody Foster, and Julian Sluyters. MFDF President Carolyn McPhillips stated, “[t]heir experience and insights will be invaluable for myself and the MFDF staff as we continue our work in helping independent directors navigate today’s shifting regulatory environment while they maintain their focus on stewarding the investments of millions of shareholders.”

October 1, 2025

Subcommittee Chairman Bryan Steil (R-WI) inquired whether a new regulatory regime would be needed to ensure guardrails are in place as the technology continues to develop. Witnesses Matthew Reisman of the Center for Information Policy Leadership, and Dr. David Cox of the MIT-IBM Watson AI Lab, both noted that guardrails could be built around the existing regulatory framework, and that Congress could make changes as needed, rather than starting with a new regulatory regime.

September 30, 2025

The report highlights generational trends in ETF investing between retail investors in categories like defined outcome, levered or inverse products, absolute return, as well as others. It also breaks down by generation investor appetite for certain types of investments like commodities, domestic equities, currency, fixed income, and international investments.

September 29, 2025

On Monday, September 29 the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) plan to host a one-day roundtable discussion on regulatory harmonization efforts. This program highlights the SEC and CFTC’s relationship to work together, not only on digital assets regulation, but in other areas of financial regulation.

September 25, 2025

On September 11, MFDF hosted a program with K&L Gates partners Craig Leen, Varu Chilakamarri, Fatima Sulaiman, and Lance Dial to address questions from fund independent directors and CCOs on Fund Governance of DEI and ESG in the Current Landscape. The critical importance of implementing, documenting, and following robust processes was a key theme throughout the discussion.

September 24, 2025

This webinar will focus on the core elements and practices of a risk management program and provides an overview of specific areas of existing and emerging risks that impact the investment management industry.

September 23, 2025

An Akin client alert notes “this matter suggests that the SEC remains willing to bring enforcement actions for clear violations of more technical provisions of the Advisers Act that do not necessarily involve fraud or investor harm.” Akin further emphasizes that annual compliance reviews must be “meaningful.”

September 22, 2025

During the webinar, panelists will discuss alternative investments in 401(k) plans, highlighting the key developments for impacted stakeholders, including alternative asset managers, plan consultants and other plan fiduciaries.

September 18, 2025

In a recent Viewpoints article, Ropes & Gray attorneys discuss the intersection between the legal implications of anti-greenwashing legislation—and related pressures—and the continued need to communicate effectively.

September 17, 2025

The statement highlights the agencies’ view that “current law does not prohibit SEC- or CFTC-registered exchanges from facilitating trading of these spot crypto asset products.” According to the statement, “[a]s market participants prepare to submit any necessary registrations, proposals, or requests for appropriate relief to the SEC and/or CFTC, the Divisions stand ready to engage regarding any questions.”

September 16, 2025

The author focuses on two primary risks, questioning the reported returns of these funds and the differences between the funds sold to wealthier investors vs. the funds sold to the broader market. The paper offers several policy implications based on its findings, including steps the SEC may take to address these risks.

September 15, 2025

The program will highlight how research and compliance teams are using AI to manage material non-public information (MNPI) risks, off-channel communications, and audit readiness.

September 11, 2025

Debevoise & Plimpton recently released a memo summarizing the 2025 proxy season in the wake of SEC guidance affecting shareholder engagement and activism and U.S. government initiatives. Debevoise noted that “revised proxy advisor and institutional shareholder guidelines were cause for many companies to review their DEI initiatives and related disclosures.”

September 10, 2025

The spring agenda reflects the Commission’s focus on cryptocurrencies, digital asset market structure, implementation of the Consolidated Audit Trail, customer identification programs, amendments to the custody rules, and a focus on transfer agents, among other projects.