So many rules…so little time (ThinkAdvisor)

The amount of SEC rulemaking underway has compliance and legal professionals raising concerns about the breakneck pace of unveiling new regulations. FrontLine Compliance Founder and President Amy Lynch points to the SEC’s Marketing Rule as an example of a rule that despite plenty of lead time, still has firms doing catch up on its requirements and without updated materials. Many of the SEC rules now being proposed are expected to have even shorter timelines for firms to meet compliance, which is raising questions and creating challenges on how to quickly address needed changes. Ms. Lynch expects the SEC’s outsourcing rule to be enacted this year, even though the SEC first needs to clarify which entities are considered “covered entities” under the rule. Other SEC rules moving toward adoption this year include those on fund and adviser ESG disclosures, cybersecurity, custody and predictive data analytics. On top of that, compliance dates begin this year and continue into 2025 for adopted rules covering private funds, Form PF, money market funds and fund names. See ThinkAdvisor, “These Controversial SEC Rules Are Likely to Get Passed This Year”