In newly released enforcement results for FY 2025, the SEC highlighted its efforts to refocus the agency's priorities on issues of core "fraud, market manipulation, and abuses of trust" that directly harm investors.

The Financial Crimes Enforcement Network issued a rule proposal to substantially modify anti-money laundering and countering the financing of terrorism programs for financial institutions.

The SEC approved amendments to the National Market System Plan Governing the Consolidated Audit Trail to implement various cost-saving measures.

The Blockchain Association countered arguments that the SEC should regulate participants supporting tokenized markets as if they were traditional financial intermediaries.

FINRA proposed rule amendments to exempt qualified "collective trust funds" from restrictions on purchasing initial public offerings and receiving new issue allocations.