The Securities and Exchange Commission has removed crypto asset-related services as a primary focus in its 2026 examination priorities, shifting to fiduciary duty, standards of conduct and customer data privacy. "Examinations are an important component to accomplishing the agency's mission, but they should not be a 'gotcha' exercise," SEC Chairman Paul Atkins says. "Today's release of examination priorities should enable firms to prepare to have a constructive dialogue with SEC examiners and provide transparency into the priorities of the agency's most public-facing division." The IAA has released a statement about the exam priorities, with more information to come for members in the coming days.

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We're excited to share that the Active Managers Council (AMC) is becoming a formal committee within the IAA. This transition means that all IAA members with active management strategies -- or just an interest in active management issues -- can now participate in the Council. Join our inaugural AMC call on Dec. 3 to hear from Tim Riley, an associate professor in the Department of Finance at the University of Arkansas, who will be discussing his current research on active management. And if you're interested in joining the Council, let us know.

Gain in-depth knowledge, network with industry peers and hear from renowned speakers -- but, above all, equip yourself with the knowledge and tools necessary to stay compliant. Join us for one of the remaining Compliance Workshops this fall, coming to a city (or computer) near you. The Austin, Texas, event is tomorrow! Then, we'll be in Los Angeles in December. Can't make it to an in-person session? Don't worry -- join us on Dec. 3 from the comfort of your own office.

The IAA is pleased to announce a redesign of our Associate Member Directory -- an easy way for IAA members to find service providers they may need, from law firms to cybersecurity and more.

The Securities and Exchange Commission is reopening after a 43-day federal government shutdown ended, but financial advisers and firms might face delays as the agency manages a backlog of filings and examinations. The shutdown also halted new adviser registrations, with compliance experts noting that it is unclear whether the statutory 45-day clock for new registrants began upon filing or when the agency reopened.

SEC Chairman Paul Atkins announced plans to create a "token taxonomy," signaling a major shift in how digital assets are regulated. The proposal could mean that many tokens will no longer be treated as securities, aligning with recent legislative efforts such as the GENIUS Act. Industry veterans have praised the approach for offering regulatory clarity, but investor-protection lawyers have raised concerns about potential risks and the need for robust market-structure legislation.

With Lori Chavez-DeRemer leading the Department of Labor and Paul Atkins heading the Securities and Exchange Commission, wealth management professionals are anticipating regulatory changes in 2026. Chavez-DeRemer and Atkins are expected to take a lighter approach to supervision and enforcement compared with their predecessors, raising questions about the future of the ERISA fiduciary rule, the independent-contractor rule and cybersecurity.

The Department of Labor's priorities are shifting rapidly under the Trump administration, driven by a significant reduction in staff at the Employee Benefits Security Administration. Daniel Aronowitz, recently confirmed as assistant secretary of labor, is expected to manage the agency creatively amid these changes. Experts at Faegre Drinker Biddle & Reath note that the staff cuts, part of a broader effort to downsize the federal government, have resulted in a decline in the number of civil cases closed by the Labor Department. The administration is also revisiting regulations on ESG investing and fiduciary duty, with the latter unlikely to survive in its current form.

The IRS has announced increased retirement contribution limits for 2026, allowing workers to contribute up to $24,500 to 401(k) plans and $7,500 to IRAs. Those aged 50 and older can contribute up to $32,500 to a 401(k) and $8,600 to an IRA. However, high earners will be required to direct catch-up contributions to Roth 401(k) accounts in 2026.