The DOL issued guidance on a February 2021 exemption that allows investment advice fiduciaries to receive compensation and engage in certain transactions otherwise prohibited under ERISA and the Internal Revenue Code.

NFA set an effective date of June 30, 2021 for a recently adopted compliance rule and related interpretive notice requiring a CPO to notify NFA upon an event that may affect the ability of its pool to fulfill its obligations to pool participants.

The SEC Division of Examinations observed compliance deficiencies related to environmental, social and governance products and services offered by investment advisers, registered investment companies and pooled investment vehicles.

CFTC Commissioner Dan M. Berkovitz urged the CFTC to revisit exemptions from certain registration and compliance regulations that were extended to family offices.

SEC Director Peter Driscoll described the regulatory and operational challenges of delivering financial services during the pandemic, the issuance of alerts on pandemic and emergent risks (including on cybersecurity), and the roll out of Regulation Best Interest.

The CFTC Market Participants Division issued CPO and CTA registration relief to a company that acquires biopharmaceutical royalty interests and uses swaps to hedge its interest rate risk on floating rate debt used to finance the company's operations.

NFA set the effective date of September 30, 2021, for a recently adopted interpretive notice concerning members' use of third-party service providers.

U.S. House Financial Services Committee Chair Maxine Waters and Subcommittee on Diversity and Inclusion Chair Joyce Beatty requested diversity and inclusion data from investment firms managing assets of $400 billion or more.

The U.S. Senate Financial Services Committee considered five bills, which would mandate that regulated entities disclose "diversity data".

SEC Acting Chair Allison Herren Lee described changes to the proxy voting disclosure framework necessary to keep pace with the "transformation" of investor preferences.

SEC Acting Chair Allison Herren Lee requested public comment on climate change-related disclosure, and reaffirmed her commitment to the development of an effective environmental, social and governance disclosure framework.

The DOL will not enforce two rules finalized late last year concerning environmental, social, and governance factors in plan investment decisions and fiduciary duties related to proxy voting and shareholder rights.

NFA proposed to require a CPO to notify NFA upon an event that may affect the ability of its pool to fulfill its obligations to pool participants.

NFA approved the adoption of a new interpretive notice that requires CFTC-registered firms that outsource regulatory obligations to implement a written supervisory framework governing the outsourcing arrangements.

An SEC final rule that amends the advertising and cash solicitation rules, the books and records rule, and Form ADV under the Advisers Act was published in the Federal Register.

The SEC Division of Examinations' 2021 priorities include an enhanced focus on climate and environmental, social and governance-related risks, conflicts of interest for brokers and investment advisers, and FinTech-related risks.

The SEC Division of Examinations outlined areas of focus concerning digital asset securities for future examinations.

A DOL class exemption that allows investment advice fiduciaries to receive compensation and engage in certain transactions otherwise prohibited under ERISA and the Internal Revenue Code went into effect on February 16, 2021.

In a series of Notices, NFA reminded member firms, by type, of their regulatory obligations based on common examination deficiencies.

In its annual Risk Monitoring and Examination Priorities letter, FINRA identified areas of focus for 2021.

The Board of IOSCO issued nine best practices for handling customer complaints, with a focus on retail investors.

NFA provided guidance on annual affirmation obligations for CPOs and CTAs that are exempt from CFTC registration.

NFA reminded firms that January 31, 2021 is the compliance date for associated persons of swap dealers and intermediaries to satisfy their Swaps Proficiency Requirements.

An SEC final rule that will adopt a new regulatory framework for fund valuation practices was published in the Federal Register.

The SEC adopted amendments for the advertising and cash solicitation rules, the books and records rule, and Form ADV.