STP Wins Fund Administration Category at the 2026 WealthBriefing WealthTech Americas Awards

ComplianceAdvisor Launches: Daily Post-Trade Compliance Reviews & Monitoring

ComplianceAdvisor, a division of STP,  is pleased to announce the launch of Daily Post-Trade Compliance Reviews and Monitoring, a new service offering that delivers daily oversight of post-trade compliance alerts. This addition strengthens STP’s position as a trusted full-service partner to investment managers by expanding its compliance capabilities.

ComplianceAdvisor provides investment firms with daily monitoring of regulatory and portfolio guideline alerts, distinguishing between passive (market-driven) and active breaches, and ensuring timely documentation, escalation, and resolution. The service integrates seamlessly into clients’ existing compliance systems, offering expert review and communication support without adding internal headcount.

Key benefits include:

• Meeting fiduciary and regulatory obligations every day
• Relieving pressure on internal compliance teams
• Providing transparency with clear documentation and audit trails
• Offering a scalable solution adaptable to any firm’s trade volume

This launch addresses two of the most pressing challenges facing investment managers today: operational bandwidth and regulatory oversight. By managing the daily compliance review process, STP enables clients to focus on their core priorities of investing and fundraising while ensuring that compliance standards are consistently upheld.

This new product marks an important step in STP’s continued growth and commitment to delivering flexible, high-touch service across the investment management lifecycle.

SEC Proposes Scrapping Trade-Through Rule

The Securities and Exchange Commission on Thursday proposed rescinding a 20-year-old rule aimed at ensuring investors obtain the best available prices when executing equity trades. But eliminating the rule could put additional fiduciary pressure on asset managers when it comes to best-execution oversight, consultants said.

SEC Chair Paul Atkins, along with Commissioners Mark Uyeda and Hester Peirce – all Republicans – voted unanimously on proposed amendments to Regulation National Market System, which calls for rescinding Rule 611, known as the “trade-through” rule. The proposal, which includes a 60-day public comment period, would also eliminate Rule 610(e), which puts restrictions on locking and crossing quotations in stocks.

A trade-through occurs when a trading center executes an order at a price inferior to that of a protected quotation displayed by another trading center, according to the SEC. Rule 611 requires trading centers – national securities exchanges, alternative trading systems, over-the-counter market makers, and any broker-dealer that executes orders internally – to establish and enforce policies reasonably designed to prevent trade-through activity.

Atkins, who opposed the rule as a commissioner when it was first adopted in 2005, called it a “grave misstep” that has fueled the “proliferation of new trading venues” over the past two decades, “which in turn fragmented liquidity and created an increasingly complex, costly and opaque marketplace for order execution.”

“While the central aim of Rule 611 was to incentivize displayed liquidity, we have seen trading activity increasingly occur elsewhere over the last two decades,” he said.

Read more on what STP experts, Kaisha Schnoll and Pat Conroy had to say here. 

New SEC Enforcement Chief Lays Out Private Market Priorities

The Securities and Exchange Commission‘s newly minted director of enforcement, David Woodcock, said the division is closely monitoring the potential risks in the private fund space, including those in the private credit market.

In a speech at the Managed Funds Association policy forum Wednesday, Woodcock said that amid efforts to broaden retail investor access to private markets, the SEC is “attuned to potential risks relating to liquidity, fees, valuations and conflicts of interest — not only at the private fund adviser level but throughout the distribution chain.”

STP Shortlisted for Three Hedgeweek Global Digital Assets Awards

STP is pleased to announce that it has been shortlisted in three categories at the Hedgeweek Global Digital Assets Awards, recognizing excellence and innovation across the digital assets fund administration industry.