Lianna Inthavong – Global Investment Law Watch

United States: The Great SEC Spring Clean Up–14 Proposals Wiped Away

Jun 13 2025

By: Lance C. Dial, Keri E. Riemer, and Lael R. Franco

Spring is a time of renewal, and the US Securities and Exchange Commission (SEC)–under its new chairman, Paul Atkins–has shown that. On 12 June 2025, the SEC withdrew 14 proposed rules impacting funds and asset managers, including several that had been vigorously opposed by the industry. A complete list is below, but highlights include proposed rules relating to safeguarding (custody), predictive data analytics (AI), ESG-related disclosures, outsourcing and cybersecurity.

United States: The SEC Takes Another Key Step Toward Crypto Clarity

Apr 14 2025

By: Keri E. Riemer, Richard F. Kerr, and Caroline N. Roethlisberger

On the heels of other guidance issued by the US Securities Exchange Commission’s (SEC) Division of Corporation Finance (Division), the Division released a statement (Statement) on 10 April 2025 addressing its views about, among other things, certain disclosure requirements for certain registration forms under the Securities Act of 1933, including Form S-1, and registration forms under the Securities Exchange Act of 1934, including Form 10. As Form S-1 is used by commodity based exchange-traded products (ETPs), including spot bitcoin and ether ETPs, the Division’s guidance will impact such ETPs and others that follow a similar registration path.

Europe: UK’s FCA Axes Proposed “Name and Shame” and D&I Requirements, and Delays Non-financial Misconduct Rules

Apr 08 2025

By: Michael E. Ruck, and Laura Scott

The UK’s Financial Conduct Authority had proposed a so-called “name and shame” approach that would have allowed it, subject to certain safeguards, to disclose its investigations into firms publicly at an early stage (see our earlier blog); however, following significant criticism from the financial industry and Parliament—largely highlighting risks that early disclosure could potentially cause irreversible damage to firms, including those later cleared of any wrongdoing—the FCA has abandoned the proposal.

United States: House Committee on Financial Services Urges the SEC to Withdraw Final and Proposed Rules

Apr 01 2025

By: Lance C. Dial and Donela M. Qirjazi

On 31 March 2025, the House Committee on Financial Services (Committee), in a letter to Acting Chairman of the US Securities and Exchange Commission (SEC), Mark Uyeda, identified a series of proposed and adopted rules that the SEC should withdraw or rescind. The letter notes the Committee’s view that the SEC, under the prior Chair, had lost sight of its mission. The identified proposals and rules represent significant rulemaking efforts on the part of the SEC, many of which were controversial and subject to significant industry opposition. The specific proposals identified are the following:

Europe: UK Sanctions Regulator Highlights Compliance Failures

Mar 31 2025

By: Michael E. Ruck, Rosie L. Naylor, Petr Bartos, Helen J. Phizackerley, and Laura Scott

On 13 February 2025, the UK’s Office of Financial Sanctions Implementation (OFSI) published an assessment of suspected sanctions breaches involving UK financial services firms since February 2022. It highlights three areas of concern:

United States: SEC’s Approach to Artificial Intelligence Begins to Take Shape

Mar 31 2025

By: Jennifer L. Klass and Pablo J. Man

On 27 March 2025, the US Securities and Exchange Commission (SEC) hosted a roundtable on Artificial Intelligence (AI) in the financial industry that was designed to solicit feedback on the risks, benefits and governance of AI.

United States: President Trump’s Executive Order Steering Digital Assets Policy

Jan 24 2025

By: Richard F. Kerr, Sarah V. Riddell, Cheryl Isaac, Jeremy M. McLaughlin, and Joshua L. Durham

As promised during his campaign, President Trump has taken significant steps to support the digital asset industry during his first week in office. On 23 January 2025, he signed an executive order initiating digital asset regulatory rollbacks and a new federal framework governing cryptocurrencies, stablecoins, and other digital assets (the Order).

United States: Compliance Outreach Program: Private Funds Panel

Nov 07 2024

By: Pablo J. Man, TJ Bright, and Matthew F. Phillips

On 7 November 2024, the US Securities and Exchange Commission’s (SEC) Divisions of Examinations, Investment Management, and Enforcement hosted a virtual panel on compliance and enforcement topics as part of its broader National Compliance Outreach Seminar. This blog post provides a high-level overview of the private fund topics that were covered, but the agenda included a broad array of additional topics.

Europe: Publication of Irish Funds Sector 2030 Report

Oct 23 2024

By: Gayle Bowen and Hazel Doyle

Following a review of the Irish funds industry and wide engagement with industry participants, discussed in our earlier blog here, the Department of Finance has issued its Final Report on the Funds Sector 2030. The report sets out the Irish government’s framework and recommendations to enhance growth in the funds sector and maintain Ireland’s prominent position.

United States: Gee, Have You Thought About Your 13G? (New Reporting Compliance Deadlines Start at Month-End)

Sep 10 2024

By: Pablo J. Man, C. Todd Gibson, and Lisa N. Ju

Updated on 26 September 2024

Starting 30 September 2024, the amendments to the Section 13 beneficial ownership rules under the Securities Exchange Act of 1934 (Amendments), as they relate to initial and amended Schedule 13G filings come into effect. The new accelerated deadlines for initial and amendment filings vary by investor type, as follows:

Author:Lianna Inthavong