News from the economy, politics and the financial markets
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Old Wine, New Bottles? FinCEN Proposes to Codify AML/CFT Program Standards for Financial Institutions
On April 7, 2026, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) issued a Notice of Proposed Rulemaking (“NPRM”) that would formalize and, in certain respects, update the requirements for financial institutions’ anti-money laundering and countering the financing of terrorism (“AML/CFT”) programs under the Bank Secrecy Act (“BSA”)....By: McGuireWoods LLP
[Video] AI in Financial Services in 5 Stories - Week Ending April 10, 2026
Welcome to AI in Financial Services in 5 Stories. A practical weekly roundup of the five most important AI developments affecting banking, insurance, payments, asset management, and fintech. Each Friday, Tom Fox will break down the top stories that matter most through the lenses of compliance, risk management, governance, and business strategy. Designed for compliance professionals, executives, legal teams, and financial services leaders, it goes beyond headlines to explain why each development...By: Thomas Fox - Compliance Evangelist
It's DSRO Exam Time for FCMs: Be Letter 25-38 Prepared!
For futures commission merchants (FCMs) that are clearing members of the Chicago Mercantile Exchange, it’s that time of year: Time for the annual examination of the FCM’s operations and financial controls by their designated self-regulatory organization, the CME’s Financial and Regulatory Surveillance (FRS) Department....By: Katten Muchin Rosenman LLP
Deep Dive Hybrid Capital Series: An introduction to Hybrid Capital Solutions – what they are, their use case and key protections
Against the backdrop of an unstable interest rate environment, with valuation challenges and subdued M&A / IPO activity, hybrid capital solutions have gained popularity. These flexible financing structures are continuing to evolve to help provide solutions to market pressures faced by portfolio companies and their private equity investors......By: Proskauer Rose LLP
[Video] Daily Compliance News: April 10, 2026, The AI & Trust Edition
Welcome to the Daily Compliance News. Each day, Tom Fox, the Voice of Compliance, brings you compliance-related stories to start your day. Sit back, enjoy a cup of morning coffee, and listen in to the Daily Compliance News. All, from the Compliance Podcast Network. Each day, we consider four stories from the business world, compliance, ethics, risk management, leadership, or general interest for the compliance professional. Top stories include: • Biggest defense against AI–trust. (FT):...By: Thomas Fox - Compliance Evangelist
Adoption Without Drift: How the Lower Middle Market is Selectively Evolving
Competition among direct lenders continues to compress pricing across private credit markets, including in the lower middle market. At the same time, certain sponsor-driven features that were once more typical of larger transactions are appearing more frequently in this segment. But the more accurate story is not broad loosening. It is selective adoption within a framework that remains more conservative at its core....By: Goulston & Storrs PC
SEC and CFTC Issue Interpretive Framework on Digital Assets
On March 17, 2026, the U.S. Securities and Exchange Commission and Commodity Futures Trading Commission issued a joint interpretive release clarifying the application of the federal securities laws to digital assets....By: Cadwalader, Wickersham & Taft LLP
Priorities, Carrots, and Sticks at the CFTC: New Enforcement Director Previews a Revised Enforcement Approach
The Commodity Futures Trading Commission (CFTC) Division of Enforcement is zeroing in on core misconduct while signaling a clearer path for self-disclosure and cooperation. Our White Collar, Government & Internal Investigations, Financial Services, and Investment Funds Teams analyze the shift toward targeted enforcement and look ahead to revised agency guidance....By: Alston & Bird
Public or Private? A Guide for Growing Companies
“Making IPOs great again” is a stated goal of Paul S. Atkins, U.S. Securities and Exchange Commission (SEC) Chairman. To redress a decline in the number of companies listed on the U.S. exchanges over the past three decades, Chairman Atkins wants to streamline SEC reporting requirements and, to the extent feasible, “de-politicize” public shareholder meetings and reduce the threat of shareholder litigation. By reducing the burdens placed on public companies, Chairman Atkins and many others hope...By: Cohen & Gresser LLP
Florida Memory Care License Law for Assisted Living Facilities: Compliance and Investment Implications
Key Takeaways - Florida is formalizing memory care regulation for assisted living facilities (“ALFs”). A new specialty license for memory care services, administered by the Agency for Health Care Administration (“AHCA”), will impose enhanced requirements on staffing, training, facility design, and marketing for assisted living facilities serving residents with Alzheimer’s disease and related dementias....By: Arnall Golden Gregory LLP
US NAIC Spring 2026 National Meeting Highlights: Reinsurance (E) Task Force
The Reinsurance (E) Task Force (“RTF”) of the US National Association of Insurance Commissioners (“NAIC”) held a virtual meeting on March 2, 2026 in lieu of meeting in person at the NAIC Spring 2026 National Meeting. In addition to routine matters such as adoption of the minutes from the RTF’s December 9, 2025 meeting covered the following matters....By: Mayer Brown
FinCEN Proposes Reform of AML/CFT Regulations, With Bank Regulators Making Coordinated Proposals
On April 7, 2026, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a Notice of Proposed Rulemaking (NPRM) that, if adopted, would significantly reform financial institutions’ anti-money laundering and countering the financing of terrorism (AML/CFT) programs under the Bank Secrecy Act (BSA)....By: Cadwalader, Wickersham & Taft LLP
Beyond Alternative Assets: DOL’s New Investment Selection Rule Sets the Bar for All Fiduciary Investment Decisions
On March 31, 2026, the Department of Labor (“DOL”) published a proposed regulation on investment selection under ERISA (“Selection of Designated Investment Alternatives—relevant factors and determinations for fiduciaries of individual account plans to satisfy their prudence requirement,” 29 CFR 2550.404a-6)....By: Kilpatrick
CFPB Workforce Restructuring Plan: New CFPB Motion Details Sweeping Proposed Reductions in Staff Across All Divisions While Injunction Remains in Place
A significant new filing on March 31 in the D.C. Circuit Court of Appeals, National Treasury Employees Union v. Vought (Case No. 25-5091), purportedly provides the most up-to-date, detailed picture yet of how leadership of the Consumer Financial Protection Bureau (CFPB) intends to dramatically scale back the agency’s operations—if permitted to do so by the courts. Acting Director Vought adopted, subject to court approval a Workforce Restructuring Plan (WRP) which, he states, “supersedes any and...By: Ballard Spahr LLP
BoE and PRA Response On AI In Financial Services
The Bank of England (BoE) has published a joint letter from the BoE and the UK Prudential Regulation Authority (PRA) to the chancellor of the exchequer and relevant secretaries of state, setting out their approach to enabling the safe and responsible adoption of AI in the UK financial sector. The letter responds to a request of 28 January to publish a plan explaining how the authorities will help enable safe AI driven innovation as well as to report annually on how their supervisory and...By: A&O Shearman
DOW’s Economic Defense Unit: Top points for defense and defensetech companies
The United States Department of War (DOW)’s newly formed Economic Defense Unit (EDU) introduces funding opportunities and a new set of legal, structural, and governance considerations for companies operating in priority defense and dual-use sectors....By: DLA Piper
UK FCA Confirms An Increase To FOS Award Limits
The UK Financial Ombudsman Service (FOS) has announced that the UK Financial Conduct Authority (FCA) has confirmed increases to FOS' award limits for the 2026/27 financial year, in line with inflation measured by the Consumer Prices Index. From 1 April, the maximum award the FOS can require a firm to pay will increase to GBP455,000 for complaints relating to acts or omissions occurring on or after 1 April 2019 (an increase of GBP10,000 on the previous year), and to GBP205,000 for complaints...By: A&O Shearman
Will 401(k) plans be “Democratized” by adding “Alts”?: DOL issues its proposed “Fiduciary Duties” regulation
On March 31, 2026, the Department of Labor (DOL) published in the Federal Register a proposed regulation entitled “Fiduciary Duties In Selecting Designated Investment Alternatives” (Proposed Rule). The DOL issued the Proposed Rule in response to White House Executive Order 14330, “Democratizing Access to Alternative Assets for 401(k) Investors” (Executive Order). Responding to concerns about litigation risk raised in the Executive Order, the DOL states that the Proposed Rule provides a “safe...By: Eversheds Sutherland (US) LLP
Consumer Finance Monitor Podcast Draws Coverage from “Inside the CFPB”: A First for Our Platform
In its April 6, 2026 issue, “Inside the CFPB,” a widely read subscription publication published by “Inside Mortgage Finance Publications” highlighted our recent podcast episode released on April 2, 2026 featuring discussion of emerging regulatory developments in the buy now, pay later (BNPL) space....By: Ballard Spahr LLP
UK PRA And FCA Consult On Changes To Loan To Income Flow Limit Rule
The UK Financial Conduct Authority (FCA) and UK Prudential Regulation Authority (PRA) has published consultation papers (CP26/12 / CP6/26), proposing changes to the loan to income (LTI) flow limit rule in mortgage lending. The regulators propose to remove the firm level 15% cap on high LTI lending (mortgages with an LTI ratio of 4.5 or above), while retaining the 15% limit in aggregate across the market, giving individual lenders greater flexibility to set their own high LTI strategies....By: A&O Shearman
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