SEC and CFTC Jointly Propose Amendments to Reduce Private Fund Reporting Burdens
The SEC and CFTC have jointly proposed amendments to Form PF that raise filing thresholds and streamline reporting requirements for private‑fund advisers. The filing threshold would jump from $150 million to $1 billion in assets, eliminating the obligation for roughly half of current filers, while the exposure‑reporting threshold for large hedge‑fund managers would rise from $1.5 billion to $10 billion. The changes retain coverage of over 90% of private‑fund assets and add a mechanism to identify private‑credit activity. A 60‑day public comment period will follow the Federal Register notice.
Chairman Atkins Launches 'Material Matters' Podcast
SEC Chairman Paul Atkins announced the launch of "Material Matters," a new podcast that offers exclusive interviews on the agency’s policy and rulemaking agenda. The inaugural episode features Commissioners Mark T. Uyeda and Hester M. Peirce discussing their careers and...
SEC Small Business Advisory Committee to Explore Ways to Encourage More IPOs
The SEC’s Small Business Capital Formation Advisory Committee will convene on April 28, 2026 to explore ways to revive IPO activity, especially for small‑cap firms. The open meeting at the SEC’s Washington headquarters will be streamed live on SEC.gov. Panelists include Edwin...
SEC Seeks Public Comment on the Consolidated Audit Trail and Other Audit Trails and Data Sources
The SEC released a concept paper inviting public comment on the Consolidated Audit Trail (CAT) and related market data sources. The release asks for input on funding, governance, design, cybersecurity, privacy and the overall regulatory purpose of the CAT. Recent...
SEC Approves Exemptive Order and Proposed Rule Change to Permit Customer Cross-Margining in the U.S. Treasury Market
The SEC issued a conditional exemptive order that permits broker‑dealers registered as futures commission merchants to cross‑margin customer cash Treasury positions cleared by FICC with Treasury futures cleared by CME. In parallel, the SEC approved a FICC rule change to...
SEC Appoints David Woodcock as Director of the Division of Enforcement
The SEC announced David Woodcock will become Director of the Division of Enforcement on May 4, 2026, succeeding acting director Sam Waldon. Woodcock returns after a stint as a partner at Gibson, Dunn & Crutcher, where he chaired the securities enforcement practice, and...
SEC Announces Enforcement Results for Fiscal Year 2025
The SEC announced its FY 2025 enforcement results, filing 456 actions that generated $17.9 billion in monetary relief, including $10.8 billion in disgorgement and $7.2 billion in civil penalties. The Commission emphasized a strategic shift toward fraud‑centric cases, individual accountability, and protecting retail investors,...
SEC Announces Agenda and Panelists for Roundtable on Options Market Structure
The SEC announced the agenda and a diverse slate of panelists for its April 16, 2026 roundtable on options market structure, to be held at its Washington headquarters and streamed live. The day-long event features three panels covering competition in quote‑driven markets,...
SEC Highlights Financial Independence During Financial Literacy Month
The SEC’s Office of Investor Education and Assistance announced a month‑long campaign for Financial Literacy Month, spotlighting free planning tools on Investor.gov. Throughout April, the agency will share guidance on early investing, diversified portfolios, debt reduction, emergency funds, and tax‑advantaged...
SEC Approves Amendment to NMS Plan to Further Reduce the Costs of the Consolidated Audit Trail
The SEC approved an amendment to the National Market System Plan for the Consolidated Audit Trail (CAT), granting exemptive relief from certain Rule 17a‑1 requirements. The changes let participants stop creating interim linkages, delete data older than three years, and relax...
SEC Clarifies the Application of Federal Securities Laws to Crypto Assets
The U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission issued a joint interpretation that clarifies how federal securities laws apply to crypto assets. The guidance introduces a taxonomy covering digital commodities, collectibles, tools, stablecoins and digital securities,...
SEC Publishes Data on Public and Private Offerings, Municipal Advisors, Transfer Agents, and Securities-Based Swap Dealers
The SEC’s Division of Economic and Risk Analysis released an extensive data set covering IPOs, follow‑on offerings, corporate bonds, Regulation D, ABS, CMBS, and security‑based swap dealers. In 2025, IPO activity jumped to 374 deals raising over $70 billion, while Regulation D offerings...
SEC Proposes Amendments to Exchange Act Rule 15c2-11
The U.S. Securities and Exchange Commission has issued a proposal to amend Exchange Act Rule 15c2-11, limiting its scope exclusively to equity securities. The rule, originally designed to curb manipulative practices in the over‑the‑counter (OTC) market, will now clarify that its...
SEC Announces Roundtable on Options Market Structure Reform
The U.S. Securities and Exchange Commission will hold a public roundtable on April 16, 2026, to examine the structure of listed options markets. The discussion will address competition in a quote‑driven environment, the retail investor surge, and the overall customer...
SEC Proposes Amendments to Reduce Burdens in Reporting of Fund Portfolio Holdings
The SEC has proposed amendments to Form N‑PORT that give investment companies an extra 15 days to file their monthly portfolio reports and shift public disclosure from a monthly to a quarterly cadence. The changes also eliminate the “Names Rule”...