Policy shifts, court challenges, and strategic considerations for organizations navigating federal directives on DEI....more
4/22/2025
/ Affirmative Action ,
Constitutional Challenges ,
Department of Justice (DOJ) ,
Diversity and Inclusion Standards (D&I) ,
Employment Discrimination ,
Equal Employment Opportunity Commission (EEOC) ,
Executive Orders ,
Federal Contractors ,
Federal Funding ,
Federal Grants ,
Pending Litigation ,
Popular ,
Private Sector ,
State Attorneys General ,
Trump Administration
Public companies are revisiting their disclosures to keep up with recent EOs and SEC developments this proxy season....more
4/22/2025
/ Climate Change ,
Corporate Governance ,
Disclosure Requirements ,
Diversity and Inclusion Standards (D&I) ,
EDGAR ,
Environmental Social & Governance (ESG) ,
Executive Orders ,
Proxy Statements ,
Registration Statement ,
Securities and Exchange Commission (SEC) ,
Shareholder Proposals ,
Trump Administration
The keenly awaited details of the EU’s proposed first omnibus package were published on 26 February 2025. The package includes amendments to the Corporate Sustainability Reporting Directive (CSRD) (including revision and...more
3/13/2025
/ Corporate Governance ,
Disclosure Requirements ,
Due Diligence ,
Environmental Social & Governance (ESG) ,
EU ,
European Commission ,
Investment Funds ,
Private Equity ,
Regulatory Burden ,
Reporting Requirements ,
Sustainability ,
Sustainable Finance ,
Taxonomy
During the first week of his second term, President Trump issued a slew of executive orders (EOs) and presidential memorandums that directly target environmental and climate initiatives addressed by previous administrations....more
1/31/2025
/ Climate Change ,
Corporate Counsel ,
Deregulation ,
Electric Vehicles ,
Energy Policy ,
Environmental Policies ,
Environmental Protection Agency (EPA) ,
Executive Orders ,
Paris Agreement ,
Presidential Memorandum ,
Regulatory Agenda ,
Trump Administration
As Washington prepares for new leadership in January 2025, significant policy changes appear on the horizon. The incoming administration’s agenda suggests a substantial shift in US economic and regulatory priorities, with...more
1/7/2025
/ Artificial Intelligence ,
Blockchain ,
Corporate Governance ,
Corporate Taxes ,
Cybersecurity ,
Department of Labor (DOL) ,
Digital Assets ,
Environmental Social & Governance (ESG) ,
Equal Employment Opportunity Commission (EEOC) ,
Federal Contractors ,
Federal Labor Laws ,
Healthcare ,
Legislative Agendas ,
Life Sciences ,
Loper Bright Enterprises v Raimondo ,
NLRB ,
Privacy Laws ,
Public Procurement Policies ,
Regulatory Agenda ,
Tax Cuts and Jobs Act ,
Trade Relations ,
Trump Administration ,
US Trade Policies
In an en banc decision filed on December 11, 2024, the U.S. Court of Appeals for the Fifth Circuit (Fifth Circuit) vacated the 2021 approval by the U.S. Securities and Exchange Commission (SEC) of rules adopted by The Nasdaq...more
12/18/2024
/ Board of Directors ,
Corporate Governance ,
Disclosure Requirements ,
Diversity and Inclusion Standards (D&I) ,
Listing Standards ,
Minorities ,
Nasdaq ,
Publicly-Traded Companies ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Vacated ,
Woman Board Members
Welcome to the third edition of our Horizon Scan for 2024: key recent and expected funds, regulatory and tax developments to look out for. As before, we focus on the most important developments and changes that we expect...more
11/1/2024
/ Corporate Governance ,
Disclosure Requirements ,
Economic Sanctions ,
EU ,
Financial Crimes ,
Fund Managers ,
MiFID II ,
Packaged Retail And Insurance-Based Investment Products (PRIIPS) ,
Private Funds ,
Regulatory Requirements ,
SFDR ,
Sustainable Finance ,
UK
Artificial intelligence (AI) is becoming ubiquitous across sectors, and the financial services industry is no exception. With the rise of AI, there is also an increase in scrutiny by regulators over its use....more
10/1/2024
/ Artificial Intelligence ,
Bots ,
Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Data Privacy ,
ECOA ,
Federal Trade Commission (FTC) ,
Financial Services Industry ,
FinTech ,
Regulatory Standards ,
UDAAP ,
Underwriting
On July 18, 2024, the Consumer Financial Protection Bureau (CFPB) issued an interpretive rule (Proposed Rule) applying the Truth in Lending Act (TILA) and Regulation Z (collectively referred to hereafter as Regulation Z) to...more
7/24/2024
/ Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Earned Wage Access ,
Interpretive Rule ,
Loper Bright Enterprises v Raimondo ,
Non-Recourse Loans ,
Proposed Rules ,
Regulation Z ,
Truth in Lending Act (TILA) ,
Wages
As banking and technology become more integrated, banks are increasingly partnering with fintechs to expand their customer offerings. The rapid rise of these partnerships has generated questions for both banks and fintechs on...more
7/17/2024
/ Banking Regulators ,
Banks ,
Community Banks ,
Compliance ,
Coronavirus/COVID-19 ,
FDIC ,
Federal Reserve ,
FinTech ,
OCC ,
Partnerships ,
Regulatory Requirements ,
Risk Management
On 14 May 2024, the European Securities and Markets Authority (ESMA) published its final guidelines ESMA34-472-440 Final Report on the Guidelines on funds names (europa.eu) on the use of ESG- or sustainability-related terms...more
5/31/2024
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Climate Change ,
Corporate Governance ,
Environmental Social & Governance (ESG) ,
EU ,
European Securities and Markets Authority (ESMA) ,
Final Guidance ,
Investment Funds ,
Regulatory Oversight ,
SFDR ,
Sustainability ,
Sustainable Business Practices ,
UCITS
Welcome to the second edition of our Horizon Scan for 2024: key recent and expected funds, regulatory, and tax developments to look out for. As before, we focus on the most important developments and changes that we expect to...more
5/24/2024
/ Climate Change ,
Cross-Border ,
Disclosure Requirements ,
EU ,
False Claims Act (FCA) ,
Fund Managers ,
Investment Funds ,
Private Funds ,
Private Investment Funds ,
Regulatory Standards ,
Reporting Requirements ,
SFDR ,
Sustainability ,
Sustainable Business Practices ,
Sustainable Finance ,
Transitional Arrangements ,
UK
The term “junk fee” is not defined under federal law, but the CFPB has focused on factors such as whether the fee would be unexpected to or take advantage of a reasonable consumer, the amount of the fee compared to the cost...more
4/8/2024
/ Banking Sector ,
Banks ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Cards ,
Debit Cards ,
Excessive Fees ,
Fees ,
Financial Services Industry ,
Overdraft Fees ,
Proposed Rules ,
Regulation Z ,
Safe Harbors ,
Truth in Lending Act (TILA)
Traditional credit underwriting methods, which are generally based on credit reports, have not always successfully captured the full picture of a borrower’s ability to repay. It is estimated that more than 45 million US...more
3/27/2024
/ Alternative Methods ,
Borrowers ,
Consumer Financial Products ,
Consumer Lenders ,
Credit History ,
Credit Reports ,
Credit Scores ,
Financial Services Industry ,
FinTech ,
Low-Income Issues ,
UDAAP ,
Underwriting ,
Unfair or Deceptive Trade Practices ,
Unsecured Debt
On March 6, 2024, the SEC adopted expansive new climate disclosure rules (the “Rules”). As noted in our March 12, 2024 client alert summarizing and analyzing the new Rules, litigation challenging the Rules was already...more
On March 6, 2024, the U.S. Securities and Exchange Commission (SEC) adopted final rules that will require expansive new climate-related disclosures in Form 10-K and Form 20-F annual reports and most registration statements....more
3/14/2024
/ Annual Reports ,
Climate Change ,
Compliance ,
Corporate Executives ,
Corporate Governance ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Final Rules ,
Financial Reporting ,
Form 10-K ,
Form 20-F ,
Greenhouse Gas Emissions ,
Internal Controls ,
Registration Statement ,
Risk Assessment ,
Securities and Exchange Commission (SEC)
In our previous alert, The Sustainability Disclosure Requirements and Investment Labels Rules: Tougher ESG Standards for UK Private Fund Managers, we discussed the Financial Conduct Authority (FCA) October 2022 consultation...more
On October 24, 2023, the Board of Governors of the Federal Reserve Board, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation (collectively, the Agencies) approved long-awaited final...more
As the market continues to evolve with the dynamics of sustainable finance legislation, managers are often facing challenges in how to best navigate competing investor demand and sentiment on environmental, social, and...more
Welcome to the second edition of our Horizon Scan, where we focus on some of the principal recent and expected developments and changes that we expect to be of interest to those in the non-listed funds sector. We have grouped...more
5/17/2023
/ AIFM ,
Alternative Investment Fund Managers Directive (AIFMD) ,
Corporate Governance ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
EU ,
EU Directive ,
Financial Regulatory Reform ,
International Tax Authority ,
Investment Funds ,
MiFID ,
Partnerships ,
Popular ,
Private Investment Funds ,
Regulatory Oversight ,
Regulatory Requirements ,
Sustainable Finance ,
Tax Authority ,
UK
The Consumer Financial Protection Bureau’s adopting release for its small business data collection and reporting rule goes beyond that rule by including a discussion deeming merchant cash advances to be “credit” more...more
On March 30, 2023, the Consumer Financial Protection Bureau (CFPB) released its small business lending data collection and reporting rule, required by Section 1071 of the Dodd-Frank Wall Street Reform and Consumer Protection...more
Welcome to our January 2023 Horizon Scan, where we focus on some of the principal recent and expected developments and changes that we expect to be of interest to those in the non-listed funds sector. We have grouped the...more
1/19/2023
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Climate Change ,
Consultation ,
Corporate Taxes ,
Divestment ,
ELTIF ,
Environmental Social & Governance (ESG) ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Greenwashing ,
Investment Funds ,
Packaged Retail And Insurance-Based Investment Products (PRIIPS) ,
Regulatory Authority ,
Securities and Exchange Commission (SEC) ,
Sustainable Finance ,
Task Force on Climate-related Financial Disclosures (TCFD) ,
UK
On May 25, 2022, the U.S. Securities and Exchange Commission (the “SEC”) proposed a package of new rules to address and enhance investor disclosure practices, and related policies and procedures, regarding Environmental,...more
6/2/2022
/ Compliance ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Form ADV ,
Investment Adviser ,
Investment Companies ,
Investment Funds ,
Policies and Procedures ,
Proposed Rules ,
Prospectus ,
Registered Investment Advisors ,
Registered Investment Companies (RICs) ,
Securities and Exchange Commission (SEC)
The U.S. Securities and Exchange Commission (SEC) has proposed amendments that would require domestic and foreign companies to include certain climate-related information in registration statements and periodic reports. Like...more