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CFTC Provides Interim Relief from Commodity Pool Operator Registration to Certain Investment Advisors

On December 19, 2025, the Market Participants Division (“MPD”) of the Commodities Futures Trading Commission (“CFTC”) issued No-Action Letter No. 25-50, granting interim relief for certain commodity pool operators (“CPOs”)...more

Governor Hochul’s Veto Restricts Application of NY LLC Transparency Act to Non-U.S. LLCs Authorized to Do Business in New York

The New York LLC Transparency Act (the “Act”) entered into effect January 1, 2026 (“Effective Date”). In its final iteration following Governor Hochul’s veto at the end of 2025, the imposition of the beneficial ownership...more

SEC 2026 Exam Priorities and Considerations

On November 17, 2025, the Securities and Exchange Commission’s (the “SEC”) Division of Examinations (the “Division”) published its examination priorities for 2026 (the “Priorities”)....more

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