Latest news
SEC Decreases Fee Rates for Fiscal 2026, which begins October 1, 2025
The SEC announced a fee decrease for issuers registering their securities. In fiscal 2026, the fee rates for registration of securities and certain other transactions will be $138.10 per million dollars, down 9.8% from $153.10 per million dollars last year. The decrease is a welcome change from the past two years, which saw increases of 3.7% for fiscal 2025 and 33.9% for fiscal 2024....By: Nelson Mullins Riley & Scarborough LLP
REIT Tax News - September 2025
Welcome to the September 2025 issue of REIT Tax News. Below, we summarize five key developments impacting REITs this past quarter....By: DLA Piper
SEC Releases Spring 2025 Rulemaking Agenda
On September 4, 2025, the Securities and Exchange Commission’s spring 2025 rulemaking agenda (the “Agenda”) was made publicly available (see here). Chairman Paul Atkins previewed the Agenda, which widely diverges from the Commission’s fall 2024 rulemaking agenda, in a simultaneously-released statement (the “Statement”), declaring that “[t]he items on the agenda represent the Commission’s renewed focus on supporting innovation, capital formation, market efficiency, and investor protection”....By: Mayer Brown Free Writings + Perspectives
[Video] Regulatory Ramblings: Episode 77 – Financial Inclusion and Sustainability/Legal & Compliance Recruitment Trends with Lotte Schou Zibell, Ian Morrison , and Raoul Montgomery
With recruitment budgets for compliance and legal hires already set for the remainder of this year and into 2026, Ian and Raoul begin the conversation by discussing their observations on hiring trends in London, Hong Kong, and Singapore. As Ian tells Regulatory Ramblings host Ajay Shamdasani, hiring appears most robust in the insurance sector relative to other parts of the financial world. A common refrain is that even with compliance, many organizations want to keep headcounts lean. Many...By: Thomas Fox - Compliance Evangelist
SEC Staff Statement: Certain Liquid Staking Activities and Staking Receipt Tokens Do Not Involve the Offer and Sale of Securities
On August 5, 2025, the Securities and Exchange Commission Division of Corporation Finance released a statement on liquid staking as a follow-on to its May 29, 2025, protocol staking statement. The liquid staking statement clarifies that certain liquid staking activities do not constitute securities offerings under federal securities laws....By: Fenwick & West LLP
US Department of Justice: ‘Well-Intentioned Innovators’ Will Not Be Prosecuted
Recent statements from the US Department of Justice, the White House, and the Commodity Futures Trading Commission indicate a safer environment for responsible risk-taking in digital assets and derivatives....By: Morgan Lewis
The Evolving Continuation Vehicle
Secondaries – and continuation vehicles, in particular – is proving to be a useful tool for both sponsors and investors. Depending on the value remaining in a particular asset or portfolio of assets, many investors in the original investment structure may find a continuation vehicle appealing. Originally published in Private Equity International Secondaries - September 2025....By: Troutman Pepper Locke
The GENIUS Act’s Stablecoin Regulatory Scheme Promotes Uniformity But May Fall Short
As the stablecoin market continues to evolve at lightning speed, regulation of these innovative financial products has strived to keep apace. While the GENIUS Act in the United States has created a robust regulatory framework, there remains fragmentation due to the regulatory approaches taken by different states. However, several recent federal legislative actions provide some clarity and predictability to this rapidly changing space—but it is still unclear how successful these efforts will be....By: Morgan Lewis
CFPB Industry Impact Uncertain Amid Priority Shift, Staff Cuts
On April 16, the Consumer Financial Protection Bureau released a memo to staff outlining its new supervision and enforcement priorities for 2025. These priorities appear to be intended to reverse some of the more prominent areas of emphasis of the bureau under its most recent previous leadership and are consistent with the general emphasis on deregulation that has been a feature of many initiatives of the new presidential administration. Originally published in Law360 - June 3, 2025....By: Troutman Pepper Locke
Sentara Healthcare and the Perils of Fiduciary Oversight
When it comes to retirement plan litigation, the common theme I’ve noticed over the years is that lawsuits rarely die in the early rounds. A fiduciary’s best hope is to win on summary judgment or at trial, but a motion to dismiss? That’s usually a long shot. And Sentara Healthcare just found that out the hard way....By: Ary Rosenbaum - The Rosenbaum Law Firm P.C.
FDIC Updates Consumer Compliance Examination Manual to Eliminate Disparate Impact Analysis in Response to President Trump’s Executive Order
On August 29, the Federal Deposit Insurance Corporation (FDIC) announced updates to its Consumer Compliance Examination Manual, marking a pivotal shift in how potential discrimination under the Equal Credit Opportunity Act and Fair Housing Act will be evaluated. The FDIC will now focus solely on evidence of disparate treatment, removing all references to disparate impact analysis from its examination procedures....By: Troutman Pepper Locke
One Big Beautiful Bill Act: An Overview of Key Healthcare Provisions & Impacts
The One Big Beautiful Bill Act (OBBBA) was signed into law on July 4, 2025. A sweeping piece of legislation that reshapes healthcare financing and delivery across Medicaid, Medicare, and the insurance marketplaces, the bill will have significant impacts on the healthcare sector. Much of the public commentary has focused on dire predictions that millions will lose coverage. While those headlines capture the scale of disruption, healthcare leaders should pay close attention to the regulatory...By: Greenbaum, Rowe, Smith & Davis LLP
Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – September 2025
To keep you informed of recent activities, here are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week....By: Troutman Pepper Locke
A secret no more: the Motor Finance Litigation reaches the end of the road
The Supreme Court has recently handed down its much-anticipated judgment in the ‘Motor Finance litigation’. The three joined appeals had become one of the most closely followed cases of this year and last. Overturning the decision of the Court of Appeal, the Supreme Court ruled largely in favour of the lender appellants in a decision which is set to have far-reaching implications for both consumers and service providers in the motor finance sector....By: King & Spalding
FDIC Removes Disparate Impact Theory from Compliance Exam Manual
Before the Labor Day holiday weekend, the Federal Deposit Insurance Corporation (FDIC) updated the fair lending and unfair, deceptive act or practices (UDAP) chapters of its Consumer Compliance Examination Manual to remove references to the disparate impact theory. These changes became effective August 29, 2025....By: Husch Blackwell LLP
Ohio Supreme Court Clarifies No Duty of Disclosure in Guaranty Agreements
In August 2025, the Supreme Court of Ohio issued its decision in Huntington National Bank v. Schneider providing important guidance on the obligations of lenders in guaranty and suretyship relationships. The Court rejected arguments based on Section 124(1) of the Restatement (First) of Security (1941), which would have imposed a duty on creditors to disclose facts that materially increase a surety’s risk, and reaffirmed Ohio’s long-standing approach to arm’s-length commercial transactions....By: Kohrman Jackson & Krantz LLP
SEC Launches EDGAR Next: Mandatory Enrollment Deadline Approaches
The U.S. Securities and Exchange Commission (“SEC”) has introduced EDGAR Next, a modernization of its Electronic Data Gathering, Analysis, and Retrieval (“EDGAR”) system....By: Stark & Stark
[Audio] Illinois Mortgage Foreclosure Shake-Up: Navigating Statute of Limitations Challenges — The Consumer Finance Podcast
In this episode of The Consumer Finance Podcast, Chris Willis and Louis Manetti delve into the evolving legal landscape surrounding the statute of limitations for mortgage foreclosures in Illinois. With recent cases challenging long-held assumptions, lenders face new uncertainties. This discussion provides insights into how these cases could set binding precedents, potentially altering foreclosure practices statewide. Tune in to understand the implications for lenders and servicers and learn...By: Troutman Pepper Locke
FDIC Proposes Adding Flexibility to Official Sign and Advertising Requirements
On August 21, 2025, the Federal Deposit Insurance Corporation (FDIC) published a proposed rule with several key changes to its FDIC Official Sign and Advertising Rule, only two years after it adopted requirements that were originally scheduled to take effect earlier this year (that were delayed due to concerns regarding implementation and consumer confusion)....By: Davis Wright Tremaine LLP
[Audio] JONES DAY TALKS®: Real Assets Roundup Episode 4: Legal and Energy Challenges of Powering Data Centers
The demand for data centers driven by AI and cloud migration have strained the energy infrastructure. As power consumption exceeds availability, the legal and business challenges of securing power, building out infrastructure and allocating risk have become key issues for the industry. In this episode of the "Real Assets Roundup," Jones Day partners Brian Sedlak, Paul Jones, Jeff Schlegel and Melissa Vandewater discuss the energy and utility issues facing the data center industry and where...By: Jones Day
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