News from the economy, politics and the financial markets
In this section of our news section we provide you with editorial content from leading publishers.
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A $100 Million Drafting Mistake? Supreme Court Of NSW Clarifies Principles On Rectification Of Contracts
This decision clarifies how the subjective intention of an individual is attributed to a corporation or similar entity for the purpose of determining whether there is a ‘mistake’ in a contract which the Court will rectify....By: Herbert Smith Freehills Kramer
United Kingdom Unveils FSMA-Based Regulatory Regime for Cryptoassets
The United Kingdom is bringing the regulation of crypto-related services and activities within the scope of the regime that currently applies to traditional financial services firms set out in the Financial Services and Markets Act 2000 ("FSMA"). The United Kingdom published draft rules in the Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2025 (the "Cryptoasset Regulations"). Currently, traditional firms wishing to carry on specific financial services and activities in the...By: Jones Day
LSEG LPC’s annual Middle Market & Large Corporate Loans Conference: Key takeaways
At the 2025 Middle Market & Large Corporate Loans Conference, hosted by LSEG LPC, financial services professionals convened to review market drivers from the past year and identify opportunities for 2026. The November 2025 event featured a discussion titled, "2025 Market Shifts: Changes in Private Credit vs. BSL," moderated by DLA Piper Partner Alan Rockwell (New York)....By: DLA Piper
Once a Private Securities Transaction, Now an Outside Business Activity?
The Financial Industry Regulatory Authority (FINRA) on January 14, 2026, filed a proposed rule change with the U.S. Securities and Exchange Commission (SEC) to adopt FINRA Rule 3290 (Outside Activities Requirements). The proposed rule, previously announced in Regulatory Notice 25-05, drew more than 200 comments reflecting divergent views from both FINRA-member broker-dealers and SEC-registered investment…...By: Holland & Knight LLP
GP consent and transfer restrictions in LP trades
The limited partner (‘LP') secondaries market has grown into a huge ecosystem and, alongside this expansion, the process of obtaining general partner (‘GP') consent and navigating transfer restrictions has become increasingly time consuming. What was previously a procedural step has evolved into a more complicated process, and one that allows GPs to shape their investor base, maintain portfolio stability, and manage how secondary capital enters their funds....By: Hogan Lovells
Wisconsin Introduces True Lender Legislation
On December 12, 2025, the Wisconsin legislature introduced a bipartisan measure (SB 759) that proposes significant amendments to Chapter 138 (Money and Rates of Interest) of the Wisconsin Statutes....By: Krieg DeVault
Liability Divestiture Transactions: A Win-Win for Financial Buyers and Mass Tort Defendants
Several industrial companies have recently implemented transactions to permanently divest legacy contingent liabilities. In these transactions, the divesting company transfers ownership of an entity holding specified legacy liabilities to a third party, typically an institutionally capitalized entity with expertise in claims management....By: Skadden, Arps, Slate, Meagher & Flom LLP
The Long-Anticipated Wave of Bank Consolidation Starts to Break
Coming into 2025, the long-predicted “great wave” of bank mergers still appeared theoretical. But by year’s end, announced U.S. bank deals exceeded 2024 totals, and aggregate transaction value had moved decisively higher, with activity spanning traditional community and regional bank mergers and targeted acquisitions of niche platforms....By: Skadden, Arps, Slate, Meagher & Flom LLP
AI-Related Claims and Other Securities Litigation Trends to Watch
Securities class action filings remained elevated in 2025, signaling that robust activity will likely persist into 2026. According to economic and financial consulting company Cornerstone Research, through September 30, 2025, there were 161 new securities class actions filed in federal and state courts (consisting of 155 traditional filings and six merger objections)....By: Skadden, Arps, Slate, Meagher & Flom LLP
Why Fred Reish’s Move to Prime Capital Matters to Plan Sponsors and Providers
Today’s industry news isn’t just another personnel announcement. When Fred Reish, a lawyer whose name has been synonymous with ERISA’s most complex fiduciary and regulatory issues for decades, changes teams, the whole retirement plan ecosystem should take notice....By: Ary Rosenbaum - The Rosenbaum Law Firm P.C.
Healthcare Trends & Transactions: Year in Review - January 2026
At the end of 2024, we predicted that the healthcare mergers and acquisitions (M&A) market would pick up steam in 2025, given the combination of decreasing interest rates, a potential shift in the regulatory landscape with the new presidential administration and growing comfort and familiarity with new state reporting requirements related to physician practice management (PPM) and other healthcare transactions....By: Bass, Berry & Sims PLC
Tokenization Is Coming to a Fund Near You: Designing the Structures to Make Investment Tokens Work
Tokenization of private equity (PE) and venture capital (VC) fund interests is rapidly gaining traction in Asia, as fund managers and service providers seek to leverage blockchain technology to enhance liquidity, broaden investor access and streamline fund operations....By: Skadden, Arps, Slate, Meagher & Flom LLP
Trump Announces Support For Legislation To Cap Credit Card Interest Rates At 10% Per Annum For One Year
We recently blogged about President Trump’s Truth Social post in which he announced his intent to impose a 10% per annum interest rate cap on credit cards for one year beginning on January 20, 2026, the one-year anniversary of his second term of office. On January 21, during his speech delivered at the World Economic Forum in Davos, Switzerland, he announced his support for legislation to accomplish that result....By: Ballard Spahr LLP
FSCA Update on Licensing and Supervision of Crypto Asset Service Providers
Key Developments - The Financial Sector Conduct Authority (FSCA) has released an update on the licensing and supervision of Crypto Asset Service Providers (CASPs) under the Financial Advisory and Intermediary Services Act, 2002 (FAIS Act). Since the CASP licensing regime took effect on 1 June 2023, the FSCA has received 512 licence applications, of which 300 have been approved, 14 declined and 121 withdrawn following engagement with the regulator. The balance remains under review....By: DLA Piper
The Legal Risks Family Offices Face in Private Secondary Market Investments
Family offices are increasingly turning to private secondary market transactions to gain exposure to sought-after companies in technology, artificial intelligence, fintech, and other alternative investment sectors. These transactions often involve the purchase of shares from founders, early investors or employees, and can provide access that would otherwise be unavailable in traditional fundraising rounds....By: Fox Rothschild LLP
Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – January 2026 # 3
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week. Federal Activities: On January 16, the U.S. Department of Education announced it will temporarily delay the use of involuntary collection tools on defaulted federal student loans — such as administrative wage garnishment and the Treasury Offset Program — so it can implement major repayment reforms...By: Troutman Pepper Locke
What’s In a Name? The Strategic Value of Strong Trademarks
“What’s in a name?” That which we call a good, by any other name, would it be as valuable? Conceiving a trademark is much like crafting a poem – it should be original, distinctive, and memorable. Like Shakespeare’s language, a strong mark stands apart from the ordinary, commands attention, and endures because it is unlike anything else....By: Brooks Kushman P.C.
“Limited Partner”? The Exclusion of Net Earnings from Self-Employment
Last week, the federal Court of Appeals for the Fifth Circuit ruled that the U.S. Tax Court had misinterpreted the Code’s self-employment tax rules as they apply to individuals who hold limited partnership interests in a state law limited partnership notwithstanding that such individuals also render services to the partnership of a nature that is integral to the limited partnership’s business....By: Rivkin Radler LLP
61. January 21, 2026 | Customs Switches to Electronic (ACH) Refunds
See Chart below for more information....By: Thompson Coburn LLP
OCC Updates Venture Lending Guidance and Clarifies Supervisory Expectations
On December 5, 2025, the Office of the Comptroller of the Currency (OCC) issued OCC Bulletin 2025-45 (the “2025 Bulletin”) with updated guidance for national banks and federal savings associations (generally, “banks”) regarding venture lending. The 2025 Bulletin rescinds and replaces the prior venture lending guidance issued on November 1, 2023, in OCC Bulletin 2023-34 (the “2023 Bulletin”) and reflects an evolution of the OCC’s supervisory approach to venture lending....By: Morrison & Foerster LLP
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