On January 28, the Securities and Exchange Commission's (SEC) Divisions of Corporation Finance, Investment Management, and Trading and Markets jointly released a joint statement on tokenized securities (Staff Statement). The...more
Katten's Financial Markets and Funds Quick Take is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds....more
Exchange-traded funds (ETFs) are a popular investment tool for investors, providing market access to a diverse set of industries and asset classes through a liquid investment strategy. While private credit markets have...more
After years of concern over the cost of the consolidated audit trail (CAT), Consolidated Audit Trail, LLC (CAT LLC) proposed a sweeping amendment that could reduce annual CAT operating expenses by as much as $73 million. On...more
In a flurry of activity, the Securities and Exchange Commission (SEC) has taken decisive steps to integrate blockchain technology into traditional securities market infrastructure. First, in a media appearance, Chairman Paul...more
Katten's Financial Markets and Funds Quick Take is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds....more
12/18/2025
/ Anti-Money Laundering ,
CFTC ,
Cybersecurity ,
Digital Assets ,
Digital Operational Resilience Act (DORA) ,
European Commission ,
Financial Conduct Authority (FCA) ,
Investment Advisers Act of 1940 ,
Popular ,
Securities and Exchange Commission (SEC) ,
The GENIUS Act
What should a broker-dealer do when a customer's contact information no longer works? The law imposes responsibilities on broker-dealers in such situations. We expect the Securities and Exchange Commission (SEC), the...more
Delayed slightly by the recent government shutdown, the Division of Examinations (the Division) of the Securities and Exchange Commission (SEC) recently published its fiscal year 2026 examination priorities (the...more
Katten's Financial Markets and Funds Quick Take is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds....more
In 2025, applications and inquiries to register with the Commodity Futures Trading Commission (CFTC or Commission) as a derivatives exchange have noticeably increased, with several companies pursuing or obtaining a CFTC...more
From Enforcement to Empowerment: SEC Chairman Paul Atkins Charts a New Regulatory Approach for Digital Assets -
SEC Chairman Atkins promoted a forward-looking regulatory agenda, emphasizing three interlocking priorities: (1)...more
The Trump administration, including the Securities and Exchange Commission (SEC) leadership, has ushered in a push to "democratize" access to alternative investments. Speaking at an Investor Advisory Committee meeting on...more
10/27/2025
/ Accredited Investors ,
Business Development Companies ,
Closed-End Funds ,
Department of Labor (DOL) ,
Investment Company Act of 1940 ,
Popular ,
Private Funds ,
Regulation D ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Trump Administration
The availability of prediction markets has exploded for American consumers, as contracts that allowed people to bet on the outcome of the 2024 presidential election gained popularity. Prediction markets are generally...more
The Securities and Exchange Commission (SEC) issued a conditional exemptive order that grants targeted relief from several requirements under the national market system plan governing the consolidated audit trail (CAT), SEC...more
The Securities and Exchange Commission (SEC) approved proposed rule changes by multiple exchanges to adopt generic listing standards for Commodity-Based Trust Shares, including those that hold digital assets such as...more
Katten's Financial Markets and Funds Quick Take is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds....more
Katten's Financial Markets and Funds Quick Take is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds....more
The US Securities and Exchange Commission (SEC) approved the use of in-kind creation and redemption mechanisms for cryptocurrency exchange-traded product (ETP) shares on July 29.1 This move aligns crypto-based ETPs with...more
The US Court of Appeals for the Eleventh Circuit (Eleventh Circuit) recently vacated the Securities and Exchange Commission’s (SEC) 2023 funding order for the Consolidated Audit Trail (CAT) (the 2023 Funding Order), stayed...more
The Financial Industry Regulatory Authority (FINRA) is updating Rule 6860(a)(2) so that industry members who use time stamps more granular than nanoseconds must continue to truncate (rather than round) those time stamps at...more
Katten's Financial Markets and Funds Quick Take is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds....more
On July 7, Judge Alan Albright of the US District Court for the Western District of Texas granted the Securities and Exchange Commission’s (SEC) motion to stay a class action by industry groups that challenges the...more
Katten's Financial Markets and Funds Quick Take is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds....more
On June 11, the Securities and Exchange Commission (SEC) requested a stay of proceedings in a pending class action lawsuit challenging the SEC’s implementation of the Consolidated Audit Trail (CAT). The SEC’s rationale for...more
Securities and Exchange Commission (SEC) Chairman Paul S. Atkins recently directed SEC staff to conduct a review of the Consolidated Audit Trail (CAT), focusing on the escalating costs, reporting requirements, and...more