Key Developments & the Latest Trends in the U.S. From a Legal Perspective

2024 was a notable year of active rulemaking, examinations, and enforcement activities for the primary U.S. functional regulators in the asset management industry. Across jurisdictions and regulatory bodies, the number of new rules, interpretations and guidance through administrative and legal actions has been at historic levels. Through the course of the year, U.S. courts have also vacated controversial rules. In this evolving landscape, navigating legal compliance is challenging. Legal decisions that seemingly erase decades-old understandings and regulatory shifts that redefine compliance standards can make it difficult to know the path forward. The speed of technological advancements has been dizzying for regulators and professionals alike. Investor expectations about their money, where it is going and for what, continues to increase. In this article, we examine 2024’s key developments and trends from a U.S. legal perspective in the asset management industry.