By: Lance C. Dial, Jennifer L. Klass, and Pablo J. Man
On 15 January 2026, the SEC staff released two new FAQs addressing issues arising under Advisers Act Rule 206(4)-1 (the Marketing Rule). These FAQs provide important, if technical, guidance to advisers on key provisions of the Marketing Rule and show continued Staff willingness to issue guidance in the form of FAQs.
Read MoreBy: Andrew Massey, Kai Zhang, and Ron Feldman
The Financial Conduct Authority (FCA) is consulting on changes to the short selling regime in the United Kingdom (UK), as set out in Consultation Paper CP25/29.
Read MoreBy: Andrew J. Massey, Kai Zhang, and Zainab Kuku
The FCA has published Consultation Paper CP25/28 with a view to accelerating the adoption of tokenisation by UK authorised funds. The consultation also proposes changes to allow direct dealing models, which would facilitate tokenisation as well as improve the operating environment for UK authorised funds generally.
Read MoreBy: Matthew Watts and Michelle Huo
Australia’s private credit market has experienced remarkable growth in recent years, with some estimates valuing it at approximately $200 billion.
Read MoreBy: Jim Bulling, Ben Kneebush and Thais Fernandes
In February this year, ASIC released a discussion paper seeking industry engagement on actionable ideas to enhance the operation of both public and private markets.
Read MoreBy: Jessica D. Cohn and Yonathan Y. Tewelde
On 25 September 2025, staff from the US Securities and Exchange Commission’s (SEC) Divisions of Examinations, Investment Management, and Trading and Markets hosted a webinar discussing the amendments to Regulation S-P and what to expect when Regulation S-P is in scope of an exam. The amendments, among other things, require brokers, dealers, registered investment advisers, investment companies, and transfer agents (covered institutions) to adopt written policies and procedures for incident response programs to address unauthorized access to or use of customer information, including procedures for providing timely notification to individuals affected by an incident involving sensitive customer information with details about the incident and information designed to help affected individuals respond appropriately.
Read MoreBy: Jessica D. Cohn and Yonathan Y. Tewelde
The US Securities and Exchange Commission (SEC) staff will be hosting a webinar on 25 September 2025 regarding the upcoming compliance requirements under the amendments to Regulation S-P. The session is specifically geared toward large firms and is anticipated to cover expectations around incident response programs, including customer notification, the Division of Examinations’ expectations and potential Risk Alerts from the SEC staff.
Read MoreBy: Jim Bulling and Ben Kneebush
As we have now said goodbye to FY25, we look back on some of the more significant regulatory developments that fund managers can’t afford to ignore.
Read MoreBy: Gayle Bowen and Hazel Doyle
ESMA finally published its long-awaited technical advice for the review of the EAD, which proposes changes to the existing UCITS framework (the Report).
Read MoreBy: Sarah V. Riddell and Vivian K. Bridges
On the heels of the House Financial Services Committee’s introduction of the CLARITY Act, Republican senators who serve on the Senate Banking Committee introduced their “Crypto Market Structure Principles” (the Principles) to establish a “baseline” for negotiating the Senate’s version of its market structure bill. Shortly after releasing the Principles, the Digital Assets Subcommittee of the Senate Banking Committee held a hearing on market structure.
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