FiSolve Weekly News Digest: October 17, 2025

Here is what we are reading in the news this week...

SIFMA Proposes Modernizing SEC Rules to Reflect Today’s Communications Practices

In a letter to SEC Chairman Paul Atkins, SIFMA urged the SEC to modernize its Books and Records Rules governing communications, including Exchange Act Rules 17a-4 and 18a-6 and Advisers Act Rule 204-2.  Updating these rules would allow firms to meet client expectations, use secure modern technologies, and remain competitive globally — while continuing to uphold strong supervisory responsibilities and investor protections.  This includes (1) Refocusing retention obligations on client-facing communications, (2) Removing uncertainty by eliminating the vague “business as such” standard and clarifying that trivial or irrelevant categories — such as emojis, ministerial messages, or AI-generated transcripts — are not subject to retention, (3) Providing a safe harbor for firms that implement reasonable policies and procedures, replacing today’s strict liability framework, (4) Harmonizing retention periods across registrants at three years, simplifying compliance for dual registrants, and (5) Eliminating third-party undertakings that currently discourage the use of secure, modern cloud technologies.  Read more here.

U.S. and U.K. Take Largest Action Ever Targeting Cybercriminal Networks in Southeast Asia

Citing more than $16 billion being lost to online scams, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) and Financial Crimes Enforcement Network (FinCEN), in close coordination with the United Kingdom’s Foreign, Commonwealth, and Development Office (FCDO), took complementary actions against criminal networks responsible for targeting citizens of the United States and other allied nations through online scams and the laundering of stolen funds.   As a result of today’s action, all property interests of the blocked persons described above that are in the United States or in the possession or control of U.S. persons are blocked and must be reported to OFAC.  Read more here.

Discuss Politics at the Workplace?  

Bad Idea, Say Employees

A survey released by Monster finds 68% of workers are not comfortable discussing politics at work.  While 64% respect their coworkers' political beliefs, 33% admit they have judged coworkers negatively based on political views.  60% of those surveyed believe political discussions should be avoided entirely at work, with a striking 14% saying they would rather get a cavity filled than talk politics at work.  Monster notes its findings align with research from the Pew Research Center, which emphasizes workplace culture significantly influences employee satisfaction and retention.  Organizations that force or encourage political alignment risk alienating employees and fostering judgment rather than collaboration.  Read more here.

Federal Reserve Board Announces Expanded Operating Days of Two Large-Value Payments Services to Include Sundays and Weekday Holidays

The Federal Reserve Board announced expanded operating days of two large-value payments services, Fedwire® Funds Service and the National Settlement Service (NSS), to include Sundays and weekday holidays.  The Reserve Banks will implement this expansion in several years, no earlier than 2028 to ensure operational and industry readiness. The Board announced it will monitor demand for a potential further expansion of operating hours to seven days per week. If the Board decides in the future to propose such an expansion, it will seek public comment in a new proposal.  Read more here.

Agencies Announce Withdrawal of Principles for Climate-Related Financial Risk Management

The federal bank regulatory agencies announced the withdrawal of interagency Principles for Climate-Related Financial Risk Management for Large Financial Institutions.  The announcement states the agencies do not believe principles for managing climate-related financial risk are necessary because the agencies' existing safety and soundness standards require all supervised institutions to have effective risk management commensurate with their size, complexity, and activities.  In addition, all supervised institutions are expected to consider and appropriately address all material financial risks and should be resilient to a range of risks, including emerging risks.  Read more here.

FINRA Fines and Suspends Former Assistant for Signing Documents without Permission

In a settled action this week, FINRA charged a former administrative assistant with electronically signing 22 documents on behalf of nine firm customers without permission and electronically signing 118 documents on behalf of 97 firm customers with permission over a six-month period. The documents included required books and records of the firm.  FINRA found the individual violated FINRA Rules 2010 and 4511.  The individual has been suspended from associating with any FINRA member in all capacities for six months and fined.  Read more here.

ESMA Announces 2025 European Common Enforcement Priorities and Releases Results of Fact-Finding on Materiality Considerations in Sustainability Reporting

The European Securities and Markets Authority (ESMA) outlined the European Common Enforcement Priorities (ECEP) for the 2025 annual financial reports of listed issuers.  The ECEP includes IFRS financial statements, sustainability statements and digital reporting.  ESMA stated these priorities demonstrate its commitment to simplification and burden reduction, while maintaining a strong focus on investor protection and market stability.  Read more here.

FiSolve to Host Webinar on

Trends in Investment Product Launches

Join FiSolve’s Steven Yadegari, along with experts Jennifer Grybowski, Wesley Gray, Christopher Rosenthal, and Kevin Wolf, in an upcoming webinar to explore current trends and strategic considerations in launching investment products such as hedge funds, ETFs, interval funds, CITs and SMAs. The webinar will take place on October 29 at 9am PT / 12 pm ET. Please register here (a recording will be distributed to all registrants).

FiSolve and Eversheds Sutherland to Host AI Roundtable

FiSolve and Eversheds Sutherland will be hosting a roundtable on Navigating Artificial Intelligence (AI) in the Investment Services Industry.  This in-person event is scheduled for 8:15 AM – 10:00 AM in New York City on November 13, 2025.  Please contact us at info@FiSolve.com if you are interested in attending the event.

‼️FiSolve's Negotiation Tip of the Week‼️

Empathetic Power

In financial services negotiations, a powerful approach blends empathy with assertive leadership: begin by deeply understanding the counterpart’s motivations and constraints—this builds trust and opens dialogue.  Then, clearly articulate your position with confidence, framing it not as a demand but as a mutually beneficial solution.  Demonstrating empathy shows emotional intelligence and respect, while maintaining firmness signals conviction and strategic clarity.  This balance fosters collaboration without compromising your objectives, positioning you as both a principled leader and a thoughtful partner.  

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