On December 3, 2025, the Securities and Exchange Commission (the “SEC”) announced that it was providing a second temporary exemption from compliance with Rule 13f-2, the short sale reporting rule, and related Form SHO and...more
On November 17, the SEC Division of Examinations (the “Division”) released its 2026 Fiscal Year Examination Priorities (the “2026 Priorities”)—the first announcement of exam priorities under Chairman Paul S. Atkins. In...more
The NFA adopted Interpretive Notice 9073 in 2018 when the virtual currency market was far smaller and outside of the mainstream markets. By requiring NFA members to inform their customers that the NFA did not have authority...more
On September 30, 2025, the staff of the U.S. Securities and Exchange Commission’s (the Commission or SEC) Division of Investment Management (the Staff) issued a no-action letter (NAL) stating that it would not recommend...more
The strong vote in the House for the CLARITY Act sends a clear message to the Senate that there is bipartisan momentum and support for digital asset market structure legislation. However, several obstacles remain. Given the...more