Simpson Thacher Podcast Highlights Regulatory Updates

In a September edition of Simpson Thacher’s podcast, The Regulatory Roundup, partners Adam Aderton, Justin Browder, and Michael Osnato Jr. discuss the Securities and Exchange Commission’s (SEC) rulemaking and exams priorities under Chair Paul Atkins. 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. The presenters note that the selection of both Division heads likely signals a move towards narrowing the distance between what the governing statutes say versus prior staff positions. Furthermore, the presenters note that the Exams and Enforcement divisions will both focus on investor protection issues. They also highlighted recent enforcement cases that showcase a return to more fundamental violations and more conservative penalties. The podcast also noted a recent Exams sweep targeted toward interval funds following recent liquidity issues at an interval fund. Other potential areas of focus include valuation, fees, and proper disclosure, among other areas.

Click here to listen to the Simpson Thacher podcast “The SEC's New Era of Rulemaking and Exam Priorities.”