What Regulators Are Saying

SEC's Atkins Wants To “Future-Proof” Deregulatory Agenda

Summary: In recent remarks, SEC Chair Paul Atkins laid out a plan to “future-proof” the Commission’s deregulatory push—aiming to streamline disclosure obligations, pare back legacy rules seen as burdensome or duplicative, and accelerate reviews that remove or modernize requirements.

Why it matters: Signals a broad tilt toward lighter-touch oversight that could reshape pending rulemakings, exam focus areas, and disclosure expectations for registered investment advisers and private fund managers.

Potential action: Track near-term policy statements and rulemaking agendas; reassess compliance roadmaps and disclosure controls that assume stricter regimes; prepare draft comment letters and advocacy positions to preserve needed clarity while leveraging relief.

Read More Here(Law360)

SEC Chair signals private markets not systemic risk

Summary: In remarks reported by Bloomberg, SEC Chair Paul Atkins said ballooning private markets—particularly private credit—do not currently pose systemic risk.

Why it matters: Tone matters: this suggests a supervisory posture more open to private‑market activity while broader reviews are underway.

Potential action items: Consider pipeline acceleration for private credit strategies; continue robust liquidity/valuation governance given scrutiny persists; track any follow‑on staff guidance.

Read More Here (Bloomberg)

SEC Shutdown: Administrative Proceedings Stayed; CorpFin/IM Limited Operations

Summary: During the federal appropriations lapse, the SEC stayed all pending administrative proceedings before ALJs and the Commission and announced that CorpFin and Investment Management are operating on limited, excepted functions only (no accelerations and minimal response to routine inquiries). The stay remains in effect until further order.

Why it matters: Deadlines, hearings, and settlements that depend on administrative orders are paused, while filing reviews and accelerations slow or stop—pushing transaction and disclosure timelines and potentially affecting reserves and settlement posture.

Potential action: Confer with litigation counsel on tolled deadlines and any protective filings; update litigation calendars, reserves, and disclosure timelines; consider whether urgent matters should be shifted to federal court; route only emergency requests to the IM/CorpFin emergency inboxes; brief boards/LPACs and adjust offering/closing plans accordingly.

Read More Here(SEC)

IPO processing during shutdown—what companies (and advisers) should expect

Summary: Explains on how the SEC shutdown affects IPO reviews and issuer strategies (e.g., relying on internal reviews instead of staff comments).

Why it matters: RIAs with pre‑IPO exposure or clients asking about IPO timing should anticipate extended timetables and due‑diligence adjustments.

Potential action items: Reassess timelines for mandate launches tied to IPOs; enhance internal diligence where SEC review is delayed; manage client communications on timing/risks.

Read More Here (Reuters)

Events

HFC New York Charity Poker Tournament

Summary: Help For Children (HFC) will host its annual New York Charity Poker Tournament on October 21, 2025, at the Prince George Ballroom. The event brings together professionals from across the alternative investment industry to raise funds for the prevention and treatment of child abuse.

Why it matters: HFC is a cornerstone philanthropic partner for the alternative asset community, aligning the industry’s competitive spirit with a shared social mission. Supporting HFC events not only strengthens community engagement but also demonstrates a firm’s commitment to corporate responsibility and industry leadership beyond investment performance.

Potential action: Consider sponsoring or attending the event to deepen relationships across the alternative’s community, enhance brand visibility, and support a meaningful cause. Firms can also explore partnership or volunteer opportunities through HFC’s ongoing initiatives.

Read More Here (HFC)

Orical Fireside Chat Series - James A. Pitaro

Summary: Today, October 9, 2025, at 1pm, Orical kicks off its Fireside Chat Series with James A. Pitaro, Chairman of ESPN. The discussion, moderated by Greg Florio, explores leadership under pressure, the transformation of live sports and media, and navigating high-stakes decisions in one of the world’s most competitive industries.

Why it matters: This event marks Orical’s launch of a new platform spotlighting influential leaders across business, media, and finance. It reinforces Orical’s commitment to bringing clients and peers access to authentic, executive-level insights that transcend traditional compliance and advisory discussions.

Potential action:Join us virtually for Greg Florio’s interview of James Pitaro Chairman of ESPN at 1 pm today, request link here by 12 pm today.

Orical is a trusted leader in investment management compliance consulting and compliance technology solutions. Founded by experienced investment management attorneys and former C-Suite executives, Orical has spent over 15 years helping investment advisers, private funds, and asset managers meet regulatory requirements with confidence. Our team delivers practical, business-focused compliance solutions designed to reduce risk, streamline operations, and navigate complex SEC and regulatory challenges.

About Orical

Orical is a trusted leader in investment management compliance consulting and compliance technology solutions. Founded by experienced investment management attorneys and former C-Suite executives, Orical has spent over 15 years helping investment advisers, private funds, and asset managers meet regulatory requirements with confidence. Our team delivers practical, business-focused compliance solutions designed to reduce risk, streamline operations, and navigate complex SEC and regulatory challenges.

Read More Here