Spotlight on US Compliance

AIMA's spotlight on compliance includes a wide body of implentation guides and guidance. Each guide or piece of guidance relates to a specific new rule or set of rules and can be used by firms and their employees to assist them in with implementation.  

Final US Rules

Expiry of SEC Hard-Dollar Payments for Research No-Action Letter

Compliance Date: July 3, 2023

FinCEN Beneficial Ownership Reporting

Compliance Date: January 1, 2024

Form PF Amendments

Compliance Dates: Various

Modernization of Beneficial Ownership Reporting (13D/G)

Compliance Dates: Various

Definition of Dealer

Compliance Date: April 29, 2025

Private Fund Adviser Rule

Next Compliance Date: Large private fund advisers September 14, 2024

Reporting of Securities Loans

Compliance Date - Reporting to FINRA to begin: January 2, 2026

Securitization Conflicts of Interest

Compliance Date: June 9, 2025

Short Position Reporting

Compliance Date for Rule 13f-2: January 2, 2025 Compliance Date for CAT amendments: July 2, 2025

Transitioning to T+1

Compliance Date: May 28, 2024

U.S. Treasury Clearing

Cash Treasury Clearing to Begin: December 31, 2025 Repo Clearing to Begin: June 30, 2026

Pending Rules for All Managers

CFTC Part 4 Rules

Estimated Compliance Date: August 19, 2025

Limitations on Non-Compete Clauses in Employment Contracts

Compliance Date: Various

Minimum Tick Size

Estimated Compliance Date: July 7, 2025

SBS Position Reporting

Estimated Compliance Date: February 11, 2025

AML/CFT Requirements for RIAs and ERAs under the Bank Secrecy Act

Estimated Compliance Date: January 1, 2026

Pending Rules for RIAs Only

Cyber for Advisers and Funds

Estimated Compliance Date: August 11, 2024

ESG for Advisers and Funds

Estimated Compliance Date for prospectuses, Form N-CEN & Form ADV: July 21, 2025 Estimated Compliance Date for shareholder reports & Form N-CSR: January 21, 2026

Mutual Fund LRM and Swing Pricing

Estimated Compliance Date: July 14, 2026

Outsourcing by Advisers

Estimated Compliance Date: June 4, 2025

Predictive Data Analytics

Estimated Compliance Date: February 3, 2026

Safeguarding Advisory Client Assets

Estimated Compliance Date: May 26, 2026