FHI — what changed in the latest 10-Q
A section-by-section comparison of FHI's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-10-30 vs the prior 10-Q · 2026-07-31
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +61 | −76 | ~25 | 54 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~1 | 0 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 0 |
| Legal proceedings | Text added/removed | 0 | 0 | ~1 | 0 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | Text added/removed | 0 | 0 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-10-30
On September 25, 2026, Federated Hermes renewed its material operating lease related to its corporate headquarters in Pittsburgh, Pennsylvania. The renewed lease expires in 2041 and has renewal options for additional periods through 2051. The lease includes provisions for leasehold improvement incen…
Key regulatory developments and requirements in the U.S. since June 30, 2026, that can significantly impact or relate to Federated Hermes’ business and offerings include, among others, the following. Unless otherwise noted, Federated Hermes is evaluating the impact of the matters described on its bu…
SEC Releases 2027 Examination Priorities. On October 23, 2026, the SEC Division of Examinations released its Fiscal Year 2027 Examination Priorities, identifying areas expected to receive heightened examination focus. Key priorities relevant to investment advisers and registered funds include fiduci…
SEC Proposes Amendments to the Rule 17a-7 Cross Trading Rule. On October 9, 2026, the SEC proposed amendments to 1940 Act Rule 17a-7, the cross-trading rule, under the 1940 Act to: (1) expand the scope of securities eligible for cross trades (which are transactions between a registered investment co…
SEC Proposes Custody Rule Amendments for Investment Advisers and Investment Companies. On October 1, 2026, the SEC proposed amendments to the custody requirements applicable to registered investment advisors and registered investment companies. While the proposal addresses the custody of crypto asse…
Text removed vs the prior filing · source: 10-Q · 2026-07-31
Key regulatory developments and requirements in the U.S. since March 31, 2026, that can significantly impact or relate to Federated Hermes’ business and offerings include, among others, the following. Unless otherwise noted, Federated Hermes is evaluating the impact of the matters described on its b…
Electronic Delivery Rule Proposal. On July 16, 2026, the SEC proposed Regulation E-Delivery, a new rule that would: (1) expand the ability of issuers, market intermediaries, and others to use electronic delivery to satisfy requirements to deliver required regulatory information under the federal sec…
rulebook applicable across the SEC’s regulated entities, without altering the content or format requirements for existing disclosures. The public comment period for this proposal will end on September 21, 2026.
SEC Publishes Agency Rule List – 2026 (2026 Reg. Flex Agenda). On July 3, 2026, the SEC released its 2026 Reg. Flex Agenda, which was originally produced on May 14, 2026, and included two pre-rule items, 36 proposed rule items, and no final rule items. In a July 7, 2026 statement regarding the 2026 …
SEC Chairperson Announces Comprehensive Review of SEC Enforcement Processes. On July 1, 2026, the SEC Chairperson announced that the SEC will conduct a sweeping review of its enforcement processes, describing the review as only the second such comprehensive evaluation in the SEC’s history. Speaking …
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice