Announcement from the Securities and Exchange Commission: SEC Fall 2022 Regulatory Flexibility Agenda

On Jan. 4, 2023, the Securities and Exchange Commission (SEC) Office of Information and Regulatory Affairs announced the Fall 2022 Regulatory Flexibility Agenda otherwise known as the Fall 2022 Unified Agenda of Regulatory and Deregulatory Actions. This agenda breaks down the list of rulings put forth by the SEC, classifying each by the stage of rulemaking it is currently in as well as providing additional context around each ruling.

SEC Chair Gary Gensler commented on the release, stating, “I support this agenda as it reflects the need to modernize our ruleset, moving deliberately to update our rules in light of ever-changing technologies and business models in the securities markets. Our ability to meet our mission depends on having an up-to-date rulebook—consistent with our mandate from Congress, guided by economic analysis, and shaped by public input.

The SEC’s regulatory actions on this unified agenda would help make our markets more efficient, resilient, and fair, including through rulemaking items we have been directed by Congress to implement.”

Notably, included in the proposed ruling stage are rules such as:

  • Amendments to the Custody Rules for Investment Advisers.
  • Digital Engagement Practices for Broker-Dealers.
  • Cybersecurity.
  • Outsourcing by Investment Advisers.

While the finalized rule state included rulings such as:

  • Amendments to Form PF to Require Current Reporting and Amend Reporting Requirements for Large Private Equity Advisers and Large Liquidity Fund Advisers.
  • Electronic Recordkeeping Requirements for Broker-Dealers and Security-Based Swap Dealers and Major Security-Based Swap Participants.
  • Climate Change Disclosure.
  • Enhanced Disclosures by Certain Investment Advisers and Investment Companies about Environmental, Social and Governance Investment Practices.
  • Cybersecurity Risk Governance.

For a full list of the rulings included in the SEC Fall 2022 Regulatory Flexibility Agenda visit the SEC website.