FiSolve Weekly News Digest: September 18, 2026

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

SEC Staff Issues Risk Alert Regarding

Investment Adviser Annual Compliance Reviews

The U.S. Securities and Exchange Commission’s Division of Examinations published a Risk Alert relating the requirement that advisers conduct a review of their compliance policies and procedures at least annually to assess their adequacy and the effectiveness of their implementation. The Risk Alert highlights certain areas advisers may want to consider when conducting their reviews. Among the most common issues identified were the timeliness of reviews, the adequacy of policies and procedures governing the review process, whether reviews were actually conducted in accordance with those policies, the sufficiency of documentation, and the implementation of corrective actions arising from the reviews. Read more here.

SEC Issues “Innovation Exemption” to Facilitate the Trading of Tokenized NMS Stock and

Request for Comment

The U.S. Securities and Exchange Commission issued an order granting temporary, conditional exemptive relief to Tokenized Securities Venues each a “TSV” from the definition of “exchange” in the Securities Exchange Act of 1934 (Exchange Act) to trade tokenized National Market System (NMS) stock using innovative permissioned automated market makers and liquidity pools (together “AMM Liquidity Pools”). The five-year exemption is intended to facilitate the development of blockchain-based securities trading while the SEC evaluates potential longer-term regulatory changes. The relief is subject to a series of investor protection safeguards, including limits on trading volume and the number of securities that may be traded, requirements that tokenized shares provide the same rights and privileges as their traditional counterparts, issuer notification and objection rights, the use of auditable public smart contracts, coordinated trading halts, and enhanced operational transparency. The order also provides conditional exemptive relief from certain dealer registration requirements for liquidity providers participating in AMM liquidity pools and invites public comment to help inform future SEC rulemaking and policy decisions regarding tokenized securities markets. Read more here.

Workforce 2027 Study: How AI, Skills-Based Talent Strategies and Workforce Agility Are

Reshaping HR Priorities

In 19 Workforce Trends HR Leaders Should Prepare For In 2027, members of the Forbes Human Resources Council predict that AI will continue to transform the workplace, shifting organizations away from headcount-driven growth toward capability-driven models that emphasize adaptability, judgment and continuous learning. The study highlights the rise of skills-based hiring, human-AI hybrid workforces, embedded AI tools, fluid job structures and increased employee responsibility for shaping their own roles. It also warns of challenges including employee disengagement masked by “job-hugging,” accelerating skills obsolescence, digital fatigue, identity verification concerns stemming from deepfakes, and growing regulatory complexity. Overall, the contributors argue that successful HR leaders will balance technological innovation with human development by investing in upskilling, career path clarity, manager effectiveness, employee well-being and organizational agility to ensure their workforces remain resilient and competitive in a rapidly evolving labor market. Read more here.

CFTC Approves Final Rule Concerning

Whistleblower Awards

The U.S. Commodity Futures Trading Commission approved a final rule that incorporates a 30 percent presumption for whistleblower awards of $5 million or less, subject to CFTC discretion and its analysis of relevant regulatory factors. The final rule is modeled on the Securities and Exchange Commission’s rule 21F-6(c), further enhancing the ongoing efforts at harmonization between the two agencies. The CFTC expects this new provision to improve the efficiency, transparency, and predictability of whistleblower award claims processing. Read more here.

CISA Encourages Use of Cyber Decoys to

Enhance Threat Detection and Response

The Cybersecurity and Infrastructure Security Agency (CISA) issued new guidance encouraging organizations to deploy cyber decoys as part of their cybersecurity and Zero Trust strategies. The guidance explains that attackers increasingly rely on legitimate credentials, native system tools, and "living off the land" techniques to evade traditional security controls, making detection difficult. CISA recommends the use of decoys such as tripwires, breadcrumbs, and honeytokens that appear to be legitimate systems, accounts, or data but are designed to identify malicious activity, generate high-confidence alerts, reduce alert fatigue, and improve visibility into post-compromise behavior. The guidance also incorporates the MITRE Engage™ and MITRE ATT&CK® frameworks to help organizations implement practical, scalable deception capabilities that strengthen detection, response, and cyber threat intelligence collection efforts. Read more here.

UK FCA Provides Crypto Firms Guidance

Regarding its Future Crypto Regime

The Financial Conduct Authority (FCA) has issued new guidance to help crypto firms understand how the UK's forthcoming cryptoasset regulatory regime will apply to their businesses and which activities will require regulatory authorization. With the new regime scheduled to take effect on October 25, 2027 and authorization applications opening on September 30, 2026, the guidance covers key activities such as issuing qualifying stablecoins, operating cryptoasset trading platforms, dealing and arranging transactions, safeguarding cryptoassets, and facilitating staking services. The FCA stated that the guidance is intended to provide clarity and support industry preparedness as the UK implements a comprehensive regulatory framework designed to promote trust, consumer protection, and market integrity. The regulator also noted that it will continue supporting firms through pre-application engagement and future consultations addressing targeted legislative changes and technical aspects of the new regime. Read more here.

FiSolve Issues Client Alert on SEC Proposed

Rescission of IA “Pay-to-Play” Rule

The SEC has proposed rescinding the Investment Adviser “Pay-to-Play” Rule (Rule 206(4)-5)—a significant development for investment advisers that currently maintain political contribution preclearance, monitoring, and recordkeeping procedures. If adopted, the proposal would eliminate the rule’s two-year compensation prohibition and related requirements, potentially giving advisers greater flexibility in designing their political contribution controls. However, the proposal is not yet effective, and advisers should continue following their existing policies and procedures. FiSolve has prepared a Client Alert outlining what the SEC is proposing, what could change, and what advisers should consider doing now. Read more here.

💡FiSolve's Negotiation Tip of the Week💡

Use of Conditional Concessions to

Create and Preserve Value

In financial services negotiations, avoid making unilateral concessions. Instead, tie every concession to a corresponding commitment from the other party through a conditional framework: “If we can accommodate X, would you be willing to provide Y?” This approach helps preserve negotiating leverage, promotes reciprocity, and ensures that value is exchanged rather than simply given away. At the same time, apply a principled negotiation mindset by exploring the underlying interests behind each side's requests. Often, parties have different priorities, such as speed, flexibility, cost certainty, risk mitigation, or reporting transparency. By understanding those interests, negotiators can identify creative tradeoffs that create value for both sides before negotiating how that value is allocated. Combining conditional concessions with an interest-based approach helps parties reach more durable agreements, strengthen long-term relationships, and avoid the common mistake of treating negotiations as a zero-sum exercise

If you've found this weekly news digest to be helpful, we'd appreciate it if you would share it with your colleagues or on social media. You can subscribe to this newsletter HERE.