Core Compliance & Legal Services, Inc.

09/03/2026

📢 SEC Proposes Rescission of Investment Adviser “Pay-to-Play” Rule

The SEC has proposed rescinding Advisers Act Rule 206(4)-5, commonly known as the “pay-to-play” rule.

The rule currently restricts investment advisers from providing compensated advisory services to certain government clients for two years after specified political contributions and includes related recordkeeping requirements.

The SEC cited operational challenges and unintended consequences associated with the rule, including significant consequences for small donations.

Other Advisers Act obligations—including fiduciary duties, anti-fraud provisions, the compliance rule, and code of ethics requirements—would continue to apply.

The public comment period will remain open for 60 days after the proposal is published in the Federal Register.

Head to the full SEC Press Release to learn more: https://hubs.li/Q04wFHzR0

08/14/2026

Is your firm’s suitability process truly defensible?

Suitability goes beyond completing a client questionnaire. Advisers need to understand their clients, understand the investments they recommend, and document the reasoning behind their recommendations.

Our latest Risk Management Update explores two key pillars of a strong suitability process:
🔹 Know Your Client
🔹 Know Your Investment

A recent SEC enforcement action highlights why having a thoughtful, well-documented process matters.

Read Part 1 of “A Practical Guide to Building a Defensible Suitability Process” to learn more.

https://hubs.li/Q04t39p20

07/29/2026

We're excited to welcome Sr. Compliance Consultant Haley Hammond to the Core Compliance team!

With more than 20 years of experience in investment adviser compliance, operations, and regulatory oversight, Haley has helped firms build strong compliance programs, successfully navigate SEC examinations, and implement practical compliance solutions that support business growth.

Haley's deep expertise and hands-on approach make her a tremendous addition to our team, and we're thrilled to have her supporting our clients.

Learn more about Haley: https://hubs.li/Q04pQF510

Haley Hammond is a Senior Compliance Consultant at Core Compliance with 20+ years in the compliance space.

07/21/2026

SEC Proposes New Regulation E-Delivery Framework

The SEC has proposed Regulation E-Delivery, which would allow electronic delivery to become the default method for providing many required regulatory documents to investors while preserving the option to receive paper copies upon request.

The proposal would cover a wide range of disclosures, including Form ADV Part 2 Brochures, Form CRS, prospectuses, shareholder reports, proxy statements, and trade confirmations.

For investors currently receiving paper documents, the SEC's proposal includes a transition process with two paper notices before any switch to electronic delivery, along with the opportunity to opt out.

If adopted, the rule would modernize investor communications, improve access to important information, and reduce paper, printing, and mailing costs.

The SEC is accepting public comments for 60 days following publication in the Federal Register.

Learn more: https://hubs.li/Q04pQsng0

07/04/2026

🎆 Happy Independence Day!

As we celebrate this 4th of July, let's take a moment to honor the values of freedom, unity, and resilience. Wishing everyone a safe and joyful holiday filled with family, friends, and fireworks!

06/30/2026

📢 SEC Requests Public Comment on Novel ETFs

The SEC has issued a request for public comment on exchange-traded funds (ETFs) that invest in innovative asset classes or utilize new investment strategies.

As the ETF market continues its rapid growth, the SEC is evaluating how its regulatory framework can continue to support innovation while protecting investors and maintaining fair, orderly, and efficient markets.

The Commission is seeking feedback on:
✔️ The regulatory status of certain novel ETFs
✔️ Whether current regulations remain appropriate
✔️ Ways to improve the ETF registration process as new products emerge

The comment period will remain open for 60 days after publication in the Federal Register.

This is an important opportunity for industry participants to help shape the future of ETF regulation.

Learn more: https://hubs.li/Q04n79wm0

06/26/2026

How confident are you in the data flowing through your firm's technology systems?

For Registered Investment Advisers, accurate data isn't just an operational necessity, it's essential to client reporting, billing, compliance, and maintaining trust.

In our latest article, "Scale Growth, Operations, and Compliance with Data Integrity," Compliance Consultant Kevin Leahy discusses why firms should understand where their data comes from, how it moves between systems, and how strong data governance supports both operational efficiency and regulatory compliance.

A solid technology platform starts with solid data.

Read the full article here: https://hubs.li/Q04mL3400

06/09/2026

The SEC has established joint data standards under the Financial Data Transparency Act of 2022, creating a framework for more consistent financial regulatory data across federal agencies.

The standards introduce common identifiers for entities, locations, dates, products, and currencies, while also promoting the submission of high-quality, machine-readable data.

The goal is to improve the accessibility and usability of financial information, reduce reporting burdens for financial institutions, and support greater transparency for investors.

Financial firms should keep an eye on future agency-specific rulemakings as implementation of the Act continues.

See the full SEC Press Release here: https://hubs.li/Q04kQgn30

06/02/2026

The SEC has published a Draft Strategic Plan for public comment, outlining how the agency intends to advance its core mission of protecting investors, maintaining fair and efficient markets, and facilitating capital formation.

Among the priorities identified in the draft are:
• Supporting innovation and capital formation through clear and effective regulation
• Increasing engagement with industry stakeholders and facilitating compliance efforts
• Modernizing technology and operations, including exploring the responsible use of AI and blockchain technologies

The draft plan also addresses areas that may be of particular interest to investment advisers and other financial industry participants, including digital assets, private market access, disclosure modernization, and enforcement practices.

Public comments are due by July 2, 2026.

Head to the full SEC Press Release to learn more: https://hubs.li/Q04jRzzL0

05/28/2026

The SEC and NFA have entered into a new Memorandum of Understanding ("MOU") to improve coordination, information sharing, and oversight on matters of mutual regulatory interest.

The MOU focuses on:
✔ Emerging risks
✔ Examination planning
✔ Market conditions
✔ Reducing duplicative oversight

For firms operating across both securities and derivatives markets, this may signal a continued push toward more harmonized regulatory oversight and streamlined compliance expectations.

See the full SEC Press Release: https://hubs.li/Q04jbQl30