January’s Salus GRC Brief is all about preparation over reaction. This month, we’re digging into what regulators are focused on right now — from Marketing Rule enforcement and Reg S-P cybersecurity expectations to IAR registration oversight and fund launch readiness — so firms can plan ahead with clarity and confidence.
The Reg S-P Two-Minute Warning
The SEC’s Regulation S-P amendments significantly expand cybersecurity obligations for smaller advisers ahead of the June 3, 2026, deadline.
SEC EXAMS Issues Marketing Rule Risk Alert
The SEC just put marketing practices back in the spotlight, flagging new risks advisers can’t afford to ignore.
Webinar Summary: What It Takes to Launch a Fund Successfully
What really makes or breaks a fund launch? Legal, compliance, fundraising, and operational realities managers can’t afford to ignore.
Enhancing Audit Quality: Key Takeaways from the SEC’s Chief Accountant on PCAOB Oversight
The SEC is pushing for a rethink of PCAOB oversight, and the implications for audit firms could be significant.
License to Advise Part 2: Investment Adviser Representative Registration Oversight
When does a supervised person need to register as an IAR? We outline the rules, common pitfalls, and oversight strategies to know.
Save the Date | Navigator Webinar – Custody Unlocked
Join us on January 27, 2026, at 1:00 PM ET for an expert panel featuring former SEC Deputy Director Robert E. Plaze and IAA Associate General Counsel Laura Grossman, who will discuss the current custody rule landscape, compliance challenges, and potential regulatory changes. Moderated by Salus GRC’s Jackie Hallihan, this session will demystify the real-world application of the SEC Custody Rule for investment advisers.
Regulatory Deadlines
- Quarterly Form 13H – January 10, 2026
- Final IARD Renewal Fees – January 23, 2026
- FOCUS Part II Quarterly Filing (FINRA) – January 27, 2026
- FOCUS Schedule I Filing (FINRA) – January 27, 2026
- Form Custody (FINRA) – January 27, 2026
- SSOI Quarterly Filing (FINRA) – January 30, 2026
- AIFMD Annex IV – January 30, 2026
- Distribute Pool Participant Statements (NFA/CFTC) – January 30, 2026
A Note from Bill Mulligan, CEO
As we look ahead to the year before us, I’m reminded that progress in our industry is rarely about a single moment or milestone—it’s about consistency, judgment, experience, and trust built over time.
2025 brought strong growth across our business, reflecting what we value most: the firms we serve, trusted relationships, expert insight, and a shared commitment to managing regulatory change thoughtfully and responsibly.
We are privileged to work alongside firms that view compliance not as an obligation to manage, but as a strategic asset—one that supports innovation, resilience, reputational value, and long-term growth.
Looking ahead to 2026, we see meaningful opportunity. Regulatory modernization, the continued evolution of alternative investments, advances in AI for driving real efficiencies, opportunities for retail investors, and heightened attention to cybersecurity and due diligence will all demand clarity, discipline, and practical solutions.
Our focus remains on helping you navigate this environment with confidence—combining regulatory insight, technical expertise, and technology solutions that deliver real-world value.
We are energized about what is ahead! We look forward to continuing the journey together in 2026.
Warm regards,
Bill Mulligan, CEO