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�鶹ֱ�� & Lardner LLP attorneys James Lundy, Margaret Nelson, and Harper Beck discuss shifting enforcement priorities at the U.S. Securities and Exchange Commission in the IAA Today article, “SEC Under New Leadership: Changing Priorities and Continued Adviser Scrutiny.”

The authors detail the SEC’s leadership changes and priority shifts witnessed in 2025, how recent enforcement actions demonstrate ongoing scrutiny on investment advisers, examination priorities for the year ahead, and takeaways and practical considerations for investment advisers.

“Notwithstanding these swift and significant changes,” the authors write, “investment advisers for both retail investors and private funds should take heed that the SEC’s scrutiny of the advisory industry remains.”