Published on Jun 13th, 2025 |

SEC Withdraws 14 Proposed Rules

SEC Releases

Introduction

The SEC has just withdrawn 14 Proposed Rules from the prior Administration.

Majority of the withdrawn Proposed Rules stem from between March 2022 and November 2023, with one earlier Proposed Amendment being in October 2020.

The following 14 Proposed Rules listed below have now been withdrawn, as of June 12, 2025:

  1. Substantial Implementation, Duplication, and Resubmission of Shareholder Proposals Under Exchange Act Rule 14a-8
  2. Conflicts of Interest Associated with the Use of Predictive Data Analytics by Broker-Dealers and Investment Advisers
  3. Safeguarding Advisory Client Assets
  4. Cybersecurity Risk Management for Investment Advisers, Registered Investment Companies, and Business Development Companies
  5. Enhanced Disclosures by Certain Investment Advisers and Investment Companies About Environmental, Social, and Governance Investment Practices
  6. Outsourcing by Investment Advisers
  7. Prohibition Against Fraud, Manipulation, and Deception in Connection With Security-Based Swaps; Prohibition against Undue Influence over Chief Compliance Officers
  8. Volume-Based Exchange Transaction Pricing for NMS Stocks
  9. Regulation Best Execution
  10. Order Competition Rule
  11. Regulation Systems Compliance and Integrity
  12. Cybersecurity Risk Management Rule for Broker-Dealers, Clearing Agencies, Major Security-Based Swap Participants, the Municipal Securities Rulemaking Board, National Securities Associations, National Securities Exchanges, Security-Based Swap Data Repositories, Security-Based Swap Dealers, and Transfer Agents
  13. Supplemental Information and Reopening of Comment Period for Amendments to Exchange Act Rule 3b-16 Regarding the Definition of “Exchange”
  14. Proposed Amendments to the National Market System Plan Governing the Consolidated Audit Trail To Enhance Data Security

Vigilant's Conclusion

Vigilant’s Conclusion

The SEC’s formal withdrawal of a significant number of Proposed Rulemakings signal a shift in regulatory priorities, with nearly half of the 14 rules targeted by the House Committee on Financial Services now off the table from March 31, 2025.

While the withdrawal reflects a rollback of certain regulatory initiatives, especially those still in Proposal Stage, it does not preclude future engagement on these issues.

Many of the withdrawn Proposals addressed complex areas such as Cybersecurity, ESG Disclosures, and Market Structure Reforms, suggesting a potential recalibration in how the SEC approaches these topics.

Meanwhile, several key Rules, particularly those already finalized, remain unaddressed, leaving their status unchanged for now.  These rules include:

  • Anti-Money Laundering Rules and Amendments to Regulation S-P, which have respective compliance dates of January 1, 2026 and December 3, 2025 (Larger Entities) / June 3, 2026 (Smaller Entities).

As regulatory priorities continue to evolve, further developments remain likely, and on-going monitoring will be essential to understanding the broader impact on market participants and compliance efforts.

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