Latest news
Bank of America’s Forfeiture Case Survives Motion to Dismiss
One of my favorite movie scenes in Donnie Brasco is when Lefty and the crew bust open city parking meters for dimes because they’ve got to make their weekly nut. Sometimes, I feel like ERISA litigation is the same thing, plaintiffs’ attorneys are searching for loose change in the form of new fiduciary causes of action. The latest example? Becerra v. Bank of America Corp. On Tuesday, Judge Max Cogburn Jr. in the Western District of North Carolina denied Bank of America’s motion to dismiss a case...By: Ary Rosenbaum - The Rosenbaum Law Firm P.C.
CFTC Staff Reaffirm the Commission’s FBOT Framework, Providing Clarity to Non-US Exchanges
Amid “recent confusion and disruption regarding whether non-US exchanges should register [with the Commodity Futures Trading Commission (CFTC or Commission)] as a designated contract market (DCM) or [foreign board of trade (FBOT)] due to recent enforcement actions…,” staff from the CFTC’s Division of Market Oversight (DMO) issued an advisory letter on August 28 (Letter 25-27) to provide clarity to non-US exchanges seeking to provide direct market access to members or participants physically...By: Katten Muchin Rosenman LLP
Recent Developments for UK PLCs - September 2025
On 7 August 2025, the FCA published its review of share buybacks in UK listed equities, which analysed data on share buybacks executed for FTSE 350 issuers, as well as feedback from banks, issuers, investor representatives, and trade associations....By: Latham & Watkins LLP
The White House Working Group on Digital Asset Markets Report: What it Means for Stablecoins and Payments
On 30 July 2025, the President’s Working Group on Digital Asset Markets published its long-awaited report, entitled “Strengthening American Leadership in Digital Financial Technology” (the Report). The Report introduces actionable directives to the prudential banking regulators to further stablecoin policies, both domestically and internationally, including directives on implementing the GENIUS Act....By: K&L Gates LLP
The White House Working Group on Digital Asset Markets Report: What it Means for the Derivatives Industry
The “Strengthening American Leadership in Digital Financial Technology” Report, published in July 2025 by the President’s Working Group on Digital Asset Markets (the PWG), includes comprehensive recommendations for immediate action by the Commodity Futures Trading Commission (CFTC) and Securities and Exchange Commission (SEC). Notably, the PWG is pushing these regulators to rely on their existing rulemaking and exemptive authority–without waiting for Congress to act – to enable the trading of...By: K&L Gates LLP
Private Credit and Secured Hedges — Drafting Issues to Avoid
This article addresses numerous drafting issues identified in New York-law governed direct lending transactions that have either caused borrowers to seek amendments or the presence of which have caused secured hedge providers to walk away from potential trades....By: Hughes Hubbard & Reed LLP
DOJ Official Addresses DeFi Platform Developer Liability Under Money Transmission Statute
DOJ will focus on criminal intent over mere code creation, seeking to balance legal accountability with support for innovation....By: Latham & Watkins LLP
What You Need to Know about Freddie Mac’s Recent Guide Bulletin
Freddie Mac published a Guide Bulletin on Aug. 26 that imposes new requirements on mortgages originated on or after Oct. 1, 2025. These requirements should be familiar to those who also originate Fannie Mae loans....By: Miles & Stockbridge P.C.
Fourth Circuit Narrows Broker Protocol “Raiding” Exception, Enforces Employment Agreements in Wealth Management Dispute
On August 12, 2025, the U.S. Court of Appeals for the Fourth Circuit issued its decision in Salomon & Ludwin, LLC v. Winters, a significant case at the intersection of financial advisor mobility, the Broker Protocol, and restrictive employment covenants. The court affirmed in part and vacated in part a preliminary injunction obtained by a Richmond-based wealth management firm against several departing employees and their newly formed competitor firm....By: Bradley Arant Boult Cummings LLP
Healthcare Preview for the Week of: September 2, 2025
After a month-long recess, Congress has returned and is facing a deadline of September 30, 2025, to fund the government for fiscal year (FY) 2026. Both the House and Senate will only be in session for 14 days (including today) before that deadline....By: McDermott+
U.S. House Committee Advances Legislation Beneficial to Venture Capital Managers
On July 24, 2025, the U.S House Committee on Financial Services (the “Committee”) announced that it passed two bipartisan pieces of legislation, the Developing and Empowering our Aspiring Leaders Act of 2025 (the “DEAL Act”) and the Improving Capital Allocation for Newcomers Act of 2025 (the “ICAN Act”, and together with the DEAL Act, the “Acts”) out of Committee 50-2. While the Acts have a long way to go to become law, they have positive implications for venture capital fundraising and...By: Seward & Kissel LLP
What to Expect When You’re Expecting New Investors — Practical Steps Fund Managers Can Take to Prepare for Investments from Registered Funds and Defined Contribution Retirement Plans
Historically, investments in private funds have been reserved for large institutions, defined benefit pension plans, sovereign wealth funds and very wealthy individuals. In recent years, though, the notable difference in returns between private investments and those available in the public markets has increased pressure to expand access to private-market investments for “Main Street” investors......By: Proskauer - Regulatory & Compliance
Regulatory Reset: New Risks and Shifting Enforcement in 2025
In this episode of the Financial Services Focus Podcast, we’ll examine changes in federal enforcement actions, financial penalties, and what these signal for the future under the Trump Administration. Additionally, we discuss the emergence of new risks—such as the expanded use of the False Claims Act in areas like DEI lawsuits, tariff evasion, and healthcare…...By: Mayer Brown
Top Three Legal Considerations for Family Offices Adding Private Credit to Their Investment Portfolios
Family offices are increasingly turning to private credit as a significant component of their portfolios, underscoring a notable shift in how the world's wealthiest families are thinking about risk, return and diversification. As private credit continues to move from niche to mainstream, family offices are continually drawn to its potential for attractive yields and portfolio resilience. Below are the top three legal considerations for family offices when investing in private credit....By: Katten Muchin Rosenman LLP
Middle Eastern Promise: Saudi Arabia, UAE and Qatar Lead the M&A Charge
Investors in the Middle East have good reason to be optimistic. Despite ongoing tensions and conflicts in the region, economic growth prospects in many countries are improving. The International Monetary Fund expects GDP in the Middle East and Central Asia to grow 3.4 percent this year, up from 2.4 percent in 2024, and is forecasting 3.5 percent for 2026. In Saudi Arabia, it predicts 3.6 percent and 3.9 percent growth in 2025 and 2026....By: White & Case LLP
Digital Transformation and Paperless Transactions News and Trends - July/August 2025
Today’s ever-shifting business environment means that consumers, businesses, employers, and employees all expect to transact digitally. To remain efficient and competitive, companies must digitally transform their businesses from paper to fully electronic processes....By: DLA Piper
Regulatory Monitoring: EU version - August 2025
Our monthly regulatory newsletter monitors all relevant developments regarding European regulatory law in English language. ECB: Opinion on the supervisory independence of Lietuvos bankas and the prevention of conflicts of interest of its members of staff and governance bodies - Status: Final - The ECB published its opinion in response to a request from Lithuania’s Minister of Finance. The opinion concerns proposed amendments to the Law on Lietuvos bankas (the draft law) aimed at transposing...By: A&O Shearman
Key Provisions to Include in a Loan Document Purchase Contract
This article is the third in a multi-part series based on the Lowndes white paper, “Selling & Acquiring Distressed Real Estate in Florida.” Each installment will examine key legal and strategic considerations for acquiring distressed assets in the state....By: Lowndes
A Revamped CFPB Rulemaking on Personal Financial Data Rights
The Consumer Financial Protection Bureau (CFPB) published an Advance Notice of Public Rulemaking on August 22, 2025, reopening the rulemaking process for Section 1033 of the Dodd-Frank Act, which deals with how consumers can access and share their personal financial data. This move comes after a court put the previous version of the rule on hold (Forcht Bank, NA v. Consumer Financial Protection Bureau 5:24-cv-00304, (E.D. Ky.) Date Filed: Oct. 22, 2024) and new CFPB leadership signaled a shift...By: DLA Piper
Regulatory Monitoring - August 2025
Our monthly regulatory newsletter monitors all relevant developments regarding German and European regulatory law in English language. BMF: Draft bill for the Banking Directive Implementation and Bureaucracy Relief Act (Referentenentwurf des Bankenrichtlinienumsetzungs- und Bürokratieentlastungsgesetzes – BRUBEG) - Status: Draft - The Federal Ministry of Finance (Bundesfinanzministerium – BMF) published the draft bill for the Banking Directive Implementation and Bureaucracy Relief Act...By: A&O Shearman
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