Federal Judge Puts FTC Non-Compete Rule on Hold: PLANADVISER reports that a Texas federal judge last week put the Federal Trade Commission’s rule banning non-compete agreements on a partial hold for a challenge of the regulation being brought by tax preparation company Ryan, LLC and the U.S. Chamber of

Commerce.

Experts Say a Revived SEC Private Fund Rule Unlikely: Risk.net reports that legal experts believe the SEC is unlikely to succeed if it attempts to revive the overturned private fund adviser rule through appeals or re-proposals, especially with the upcoming presidential election and

other pending lawsuits.

Younger Investors Turning to Alts: CNBC reports that young, wealthy investors are turning to alternatives instead of traditional stock and bond

investments.

FINRA Sends Reminder on AI Rules: The DI Wire reports that as firms incorporate the use of generative AI or similar tools into their businesses, they should be mindful of the potential implications for their regulatory obligations, the

Financial Industry Regulatory Authority says.

Number of Accredited Investors Skyrockets: Bloomberg reports that thanks to recent rising markets—paired with elevated inflation and some very vintage rules—the number of people who qualify as “accredited investors” has hit an all-time

high.

SEC to Revise Predictive Analytics, Swing Pricing Rules: PLANADVISER reports that the SEC plans to redraft a proposal for "swing pricing" regulations on how so-called open-end investment funds should manage liquidity, which had faced industry objections, according to a regulatory agenda released

Monday.

Trade Groups Urge SEC to Withdraw Three More Rules: Pensions & Investments reports that the financial industry groups that successfully sued the SEC on its private fund adviser rule are arguing that the SEC should also withdraw its predictive data analytics proposal, outsourcing proposal and cybersecurity

proposal.

States Argue With Feds About DOL ESG Rule in Appeals Court: Lawyers representing Republican-led states and the federal government on July 9 argued in a federal appeals court, Pensions & Investments reports, whether the tiebreaker provision in the Department of Labor’s rule, permitting retirement plan fiduciaries to consider environmental, social and governance factors when selecting investments,

violates the Employee Retirement Income Security Act of 1974.

House Committee Voted to Block DOL Fiduciary Rule: NAPA reports that House Education and the Workforce Committee Republicans took aim at DOL’s fiduciary rule Wednesday, voting to send a resolution blocking the rule from going into effect

to the House Floor.

House Appropriations Committee Also Aims at DOL Rule: The DI Wire reports that the House Appropriations Committee approved a Fiscal Year 2025 DOL funding bill that contains policy riders that would prevent the DOL from spending money to administer, implement, or enforce several regulations, including its Retirement Security Rule and three related rules involving prohibited transaction

exemptions.