Across government agencies, the regulatory agenda is shifting away from incremental reform and toward systemic reinvention, shaped by new leadership, executive direction, and the accelerating impact of artificial intelligence, digital assets, and evolving retail participation models.
That was the central theme of From Reform to Reinvention: Regulatory Change in 2026, a Broadridge-sponsored webcast presented by Ignites. The discussion focused on what a broader reset means for firms operating in regulated markets.
A different tone from regulators
The early months of the new administration centered on delays, pauses, and targeted relief. That phase is now giving way to more substantive policy development.
Alongside this shift in pace is a shift in approach. Regulators are increasingly looking at how existing frameworks can be revised or simplified, rather than extended.
For firms, this places more emphasis on understanding regulatory intent, not just tracking individual rule changes.
AI moves from experimentation to governance
Artificial intelligence is already embedded across many parts of the investment process. Regulation, however, remains fragmented across jurisdictions and continues to evolve. This creates a degree of uncertainty for firms trying to plan ahead.
In this context, both firms and regulators are leaning toward principles-based approaches. Governance, transparency, and oversight are becoming central considerations as AI is integrated more deeply into core processes.
Tokenization is emerging as the next layer of market infrastructure
Tokenization is no longer being discussed as a future use case, it is being treated as an extension of market infrastructure.
What has changed is not just the technology but the posture of regulators and market operators. As Joe Melcher noted, developments such as regulatory exemptions for tokenization pilots and new initiatives from major exchanges are beginning to create real pathways for adoption.
At the same time, the broader market narrative is shifting. As Hope Jarkowski emphasized, the industry is moving away from an “us versus them” dynamic between traditional and digital market participants, toward a more integrated model where traditional and digital market structures coexist.
The implication is significant: tokenization is moving from the edge of the ecosystem toward its core.
That transition will not be linear. Jarkowski pointed to ongoing uncertainty around legislative outcomes, regulatory authority, and how responsibilities will ultimately be divided between agencies. Even so, regulators are increasingly engaging with the market and using existing tools to bring greater clarity.
In parallel, firms are taking a measured approach. As Melcher described, organizations are balancing excitement with caution, building understanding while ensuring appropriate guardrails and investor protections are in place.
Opening the door to private markets
There is increasing focus on expanding retail access to private markets, supported by executive action and ongoing regulatory attention.
The discussion is shifting toward how access can be structured appropriately. This includes considerations around liquidity, valuation, disclosure, and fiduciary oversight, alongside broader questions about product design and investor suitability. This is already translating into concrete policy direction.
Cybersecurity remains a constant
Alongside emerging technologies, longstanding risks remain firmly in focus. While newer technologies command attention, cybersecurity continues to demand sustained attention.
Firms operate under overlapping state, federal, and global requirements, alongside national security oversight. Panelists acknowledged that aspects of earlier disclosure-driven approaches were difficult to operationalize, even as the broader threat landscape intensifies.
A year that demands agility
Alongside these themes sit additional developments: e-delivery modernization, potential quorum reform, revisions to Form N-PORT, and evolving ETF structures. Individually technical, collectively they underscore how active the regulatory environment has become.
The message from the webcast was pragmatic. Change is occurring across multiple fronts, often simultaneously. Firms will need strong internal coordination, principles-based compliance frameworks and the ability to adjust as guidance evolves.
The 2026 regulatory reset is unfolding across market structure, technology, and oversight. Staying informed, flexible, and disciplined will be essential as these changes continue.