On June 12, 2025, the Securities and Exchange Commission formally withdrew several rule proposals made while Gary Gensler was Chairman that would have applied to investment managers, including, among others, proposals regarding:
- safeguarding of advisory client assets
- outsourcing
- conflicts of interest associated with the use of predictive data analytics
- enhanced disclosures by registered investment advisers regarding environmental, social and governance investment practices
- cybersecurity risk management
- large security-based swaps position reporting.
The withdrawal of the above rules means that the SEC would need to re-propose the rules in order to adopt rules relating to these areas.
For further discussion, see the SEC’s release here.
