Securities Regulation Daily Wrap Up, REGULATION TRACKER—Upcoming SEC and CFTC comment deadlines and effective dates, (Apr 13, 2026)

By WK Editorial Staff

A table of proposed rule comment dates and final rule effective and compliance dates for SEC and CFTC rulemaking.

Recent SEC activity includes the following:

Investment advisers. The SEC issued a notice of its intention to issue an order adjusting for inflation—the dollar amount thresholds in the rule permitting investment advisers to charge performance-based fees to "qualified clients." Investment Advisers Act Rule 205-3 requires the Commission to adjust the dollar amount thresholds on or about May 1, 2026, and approximately every five years thereafter. To reflect inflation, the order would increase the minimum net worth that a "qualified client" must have under the rule from $2,200,000 to $2,700,000. The minimum dollar amount of assets under management would be increased from $1,100,000 to $1,400,000. An order will be issued unless the Commission orders a hearing. Requests for a hearing should be received by the Commission's Office of the Secretary ([email protected]) by 5:30 p.m on April 27, 2026.

Equity securities. The SEC proposed to amend Rule 15c2-11 to refer to only equity securities. The proposed amendments would replace the term "security" in Rule 15c2-11 with the term "equity security," as defined in Rule 3a11-1. The proposed amendment would not change the existing information gathering and review requirements of the rule, which would continue to apply to brokers and dealers initiating or resuming quotations for any equity security. Comments are due May 18, 2026.

N-PORT reporting. The SEC has proposed amendments to Form N-PORT to allow reporting funds additional time for reports, reduce publication from monthly to quarterly, and remove “Names Rule” reporting from the reports, among other changes. The proposed amendments would: provide reporting funds with an additional 15 days to file monthly reports of portfolio-related information; reduce the publication of reports from monthly to quarterly; and modify Form N-PORT reports to streamline or remove certain reported information, including removing "Names Rule" reporting, and add information about funds with share classes that operate as exchange-traded funds. Comments should be submitted on or before April 24, 2026.

Please see the SEC Regulation Tracker for proposal comment deadlines and final rule compliance dates.

CFTC

Recent CFTC activity includes the following:

Crypto assets. The CFTC announced that it issued guidance relating to a final rule and interpretation issued by the SEC on the application of the Federal securities laws to certain types of crypto assets and certain transactions involving crypto assets. The SEC also issued a fact sheet. The CFTC guidance provides that the CFTC and its staff will administer the Commodity Exchange Act (CEA) consistent with the SEC’s interpretation, and that certain non-security crypto assets could meet the definition of “commodity” under the CEA. The interpretation discusses digital commodities in further detail.

Prediction markets. The CFTC is seeking comment on possible rules regarding the trading of event contracts on prediction markets. An Advanced Notice of Proposed Rulemaking asks 40 questions regarding public interest and insider trading, among other topics. The CFTC also issued an advisory (CFTC Letter No. 26-08) reminding designated contract markets of their regulatory obligations, particularly provisions that may apply to sports-related event contracts.

Swap dealer requirements. The CFTC adopted a final rule amending certain business conduct and documentation requirements applicable to swap dealers (SDs) and major swap participants (MSPs) contained in Part 23, subpart H and §23.504. The amendments codify and supersede many long-standing no-action positions issued by the Market Participants Division, as specified. The final rule provides exceptions when executing swaps that are: (1) intended by the parties to be cleared contemporaneously with execution; or (2) subject to prime broker arrangements that meet certain qualifying conditions.

Please see the CFTC Regulation Tracker for proposal comment deadlines and final rule compliance dates.

RegulatoryActivity: BrokerDealers InvestmentAdvisers CFTCNews CommodityFutures ClearanceSettlement Derivatives ExchangesMarketRegulation FinancialIntermediaries FormsFilings PublicCompanyReportingDisclosure RiskManagement SECNewsSpeeches Swaps