Digest November 10th

FinCEN Proposes Delay to IA AML Rule Until 2028

FinCEN has issued a notice of proposed rulemaking to push back the effective date of the Anti‑Money Laundering/CFT requirements for registered investment advisers from January 1, 2026 to January 1, 2028, allowing additional time for tailoring across diverse adviser models.
U.S. Department of the Treasury

SEC Withdraws Proposed Cybersecurity Rules for Advisers

In a surprising move, the SEC withdrew previously proposed cybersecurity regulations that would have imposed new requirements on investment advisers and market participants—removing a potential compliance burden but also creating uncertainty about future regulatory expectations.
Cybersecurity Dive

SEC Clears Way for ETF Share Classes in Mutual Funds

In a landmark decision, the SEC granted Dimensional Fund Advisors permission to add ETF share classes to existing mutual funds. This “ETF‑as‑share‑class” model may trigger broader industry shifts, as fund managers look to capture tax and liquidity advantages.
Financial Times