Milind Patel, one of Aerial View’s research analysts, just released an excellent white paper on trends among U.S. regulators in 2025.  The headline is that enforcement actions and fines declined in 2025, for example by 27% and 45%, respectively, in the SEC. It appears that the conventional wisdom from 2024 was correct: we could expect fewer enforcement in actions in 2025 after Trump nominee Paul Atkins took over as SEC chairman from Gary Gensler on January 20th.  

But this does not mean compliance officers can relax, particularly when it comes to oversight of the trading process.  As the paper shows, the SEC has made good on Chairman Atkins’ promise to refocus on traditional rules meant to prevent “harm” with “market manipulation” an important driver. And FINRA went the other way, with more aggressive enforcement than ever. Spoofing broke into the top five most-fined FINRA infractions for the first time.

The evidence is clear. Trade surveillance is more important now than ever. Contact Aerial View or book a demo of the most functional and cost-effective surveillance product in the market.