FiSolve Weekly News Digest: June 13, 2025

Here is what we're reading in the news this week...

SEC Division Director Natasha Vij Greiner

Will Depart Agency

The Securities and Exchange Commission announced that Natasha Vij Greiner, Director of the Division of Investment Management, will depart the agency effective July 4, 2025.  Ms. Greiner was named Director of the Division of Investment Management in March 2024.  She previously served as Deputy Director of the Division of Examinations and as the National Associate Director of the Investment Adviser/Investment Company examination program, which includes the Private Funds Unit, and was the Associate Director of the Home Office IA/IC examination program.  Read more here.

In Congressional Testimony, SEC Chairman Atkins Seeks Flat Budget, Describes Reorganization and Promotes Regional Offices

The Securities and Exchange Commission, together with the U.S. Commodity Futures Trading Commission, voted to extend the compliance date of Form PF amendments until Oct. 1, 2025.  The amendments were adopted on Feb. 8, 2024.  The compliance date for these amendments was originally March 12, 2025, but was previously extended to June 12, 2025.  Read more here.

CFOs Reconsidering the Role of Defined Benefits Plans

A recent survey of 173 CFOs and senior finance executives, conducted by Argyle in collaboration with Mercer, provides insights on how finance executives approach funding, plan design, risk and other considerations as they look to effectively manage both their businesses and their defined benefit (DB) plans.  The survey finds that as interest rates fluctuate and inflationary pressures linger, CFOs are redefining the role of DB plans.  Following a record number of plan terminations in recent years, half of CFOs now indicate they do not plan to terminate their DB plans in the near future and instead are reimagining the future of DB plans.  Read more here.

NFA Issues Alert Regarding Onboarding New Customers for FCMs and Introducing Brokers

The National Futures Association (NFA) has issued a Notice to Members warning of fraudulent trading accounts opened using falsified identities or nonexistent entities.  These accounts have shown extreme profit and loss swings, followed by immediate withdrawal requests or failure to meet margin calls.  The notice urges Futures Commission Merchants and Introducing Brokers to stay vigilant when onboarding new accounts.  Read more here.

SEC to Resume Processing of Registration Applications from Swiss-Based Investment Advisers

Following successful discussions between staff from the Securities and Exchange Commission (SEC) and the Swiss Financial Supervisory Authority (FINMA), the SEC announced it will immediately resume processing new and pending registration applications of investment advisers with their principal office and place of business in Switzerland.   The announcement pertains to (1) the ability of FINMA-supervised, SEC-registered investment advisers located in Switzerland to provide their books and records, including personal data, directly to SEC staff, and (2) the SEC’s ability to conduct on-site visits of these entities in Switzerland, consistent with the U.S. securities laws and Swiss law.  Read more here.

ESMA Publishes Principles for

Third-Party Risk Supervision

The European Securities and Markets Authority (ESMA) published newly developed principles that aim at supporting a common and effective EU-wide supervisory culture.  The 14 principles on third-party risks were developed to address the growing risks observed over recent years in the use of outsourcing, delegation or other types of third-party services by supervised firms. Read more here.

US Investor Risk Aversion Extends to

5th Straight Month in June

S&P Global reports US investor sentiment leaned toward risk aversion for the fifth month in a row, even as caution in equity markets diminished for a third straight month.  The report shows the Risk Appetite Index rose to negative 13% in June from negative 19% in May and negative 31% in April.  For the full year, investors anticipate a modest year-over-year gain for the S&P 500.  Read more here.

Skills-Based Hiring Presenting New Challenges

According to a survey by TestGorilla of 1,076 job seekers and 1,084 individuals involved in hiring decisions across the UK and US in April 2025, a perfect storm of political changes, AI advancements, and market shifts is making hiring challenging.  63% of employers say it is now harder to find great talent than it was last year, and 70% of job seekers say it is harder to find a job.  65% of employers are using Artificial Intelligence in their hiring process, and 94% of those find it helpful to the hiring process.  60% of those surveyed also believe soft skills are more important today than five years ago.  Read more here.

FiSolve to Host Compliance Anonymous Next Week

FiSolve's next Compliance Anonymous session is set for 12 PM ET on June 18. This confidential forum brings together legal, compliance, and operations professionals to openly discuss real-world challenges without attribution or judgment. The featured discussion this month will dive into the recent amendments to Reg S-P and the FinCEN Investment Adviser Rule, set to take effect soon. After that, the floor is open—bring your toughest compliance conundrums and let the community help you find solutions. Seats are limited, so please reserve your spot here.

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