IAA Supports SEC Proposal to Rescind Pay to Play Rule

The IAA supports SEC proposal to rescind Pay to Play Rule, citing disproportionate compliance burdens and unintended consequences while emphasizing remaining safeguards.

Major IAA Advocacy Win: SEC Adopts Final Rule Modernizing Small Adviser Definition

In a major victory for small advisers and a significant achievement in the IAA’s longstanding advocacy for more appropriately tailored regulation, the SEC adopted a final rule modernizing its outdated definition of a small entity. The final rule incorporates all of the IAA’s recommendations in response to the proposal.

SEC Announces 2027 Examination Priorities

The SEC’s Division of Examinations has released its FY 2027 examination priorities, highlighting continued scrutiny of investment advisers’ fiduciary obligations, conflicts of interest, compliance programs, cybersecurity, and emerging technologies.

SEC Proposes to Allow Cross Trading of Fixed Income Securities for Registered Funds

The SEC proposed amendments to ICA Rule 17a-7 to restore registered funds’ ability to cross trade most fixed-income securities, as urged by the IAA.

SEC Warns Investment Managers Against Collaborating on Proxy Matters

SEC warns that coordinated shareholder engagement, including activity conducted through intermediaries, may trigger Section 13(d) filing obligations.

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IAA Webinar Recap: Tokenization of Securities—What Advisers Need to Know

Explore key takeaways from the IAA’s webinar on tokenization of securities, including recent regulatory and market developments, opportunities for asset managers, and legal, compliance, and operational considerations.

Investment Adviser Association’s Policy & Leadership Forum Brings Industry Leaders Together

The Investment Adviser Association's (IAA) 2026 Policy & Leadership Forum brought together investment adviser executives, industry experts, and policy leaders on September 28-30 in Washington, D.C., for discussions and action on the issues shaping the future of the investment advisory profession.

Compliance Corner

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Valuation of Illiquid Assets in Retail Alts Vehicles

By Ted McCutcheon, Securities Law Counsel PLLC*

Emerging risks to advisers entering the retail illiquid alts market and approaches to mitigate illiquids valuation risk.

The CFTC’s Qualified Eligible Person Exemption for Commodity Pool Operators

By Sarah Riddell, Pablo Man, and Martina Sandoval Iriarte*

After nearly a decade and a half of operating private funds pursuant to registration as commodity pool operators (CPOs), certain CPOs may be able to withdraw from CPO registration under new CFTC no-action relief.

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Practical Strategies to Deal with Imposter Frauds on WhatsApp and Other Social Media Platforms

Harnessing Generative AI: Transforming the Investment Advisory Landscape

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IAA Supports SEC Proposal to Rescind Pay to Play Rule

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