On November 12, 2025, SEC Chairman Paul Atkins delivered remarks outlining the SEC’s ongoing work under “Project Crypto,” a regulatory initiative launched earlier this year to encourage crypto asset innovation and clarify how...more
11/20/2025
/ Blockchain ,
CFTC ,
Cryptoassets ,
Cryptocurrency ,
Digital Assets ,
Enforcement Actions ,
FinTech ,
Proposed Rules ,
Regulatory Oversight ,
Regulatory Reform ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Tokenization
As artificial intelligence (AI) systems such as ChatGPT and other generative tools gain traction across the financial services industry, investment advisers are increasingly exploring ways to leverage AI in their operations....more
10/15/2025
/ Artificial Intelligence ,
Compliance ,
Conflicts of Interest ,
Data Privacy ,
Data Retention ,
Data Security ,
Disclosure Requirements ,
Fiduciary Duty ,
Form ADV ,
Investment Advisers Act of 1940 ,
Recordkeeping Requirements ,
Registered Investment Advisors ,
Regulation S-P ,
Regulatory Requirements ,
Securities and Exchange Commission (SEC)
On September 30, 2025, the SEC Staff of the Division of Investment Management (the “Staff”) issued a no-action letter (the “Letter”) that clarifies how SEC-registered investment advisers (“RIAs”), registered investment...more
10/3/2025
/ Cryptoassets ,
Cryptocurrency ,
Custody Rule ,
Digital Assets ,
Due Diligence ,
Investment Advisers Act of 1940 ,
Investment Company Act of 1940 ,
New Guidance ,
No-Action Letters ,
Registered Investment Advisors ,
Regulatory Requirements ,
Securities and Exchange Commission (SEC) ,
Securities Regulation
On August 15, 2025, the Division of Investment Management (the “Division”) of the U.S. Securities and Exchange Commission (SEC) published Accounting and Disclosure Information 2025-16 (ADI), providing updated guidance for...more
8/19/2025
/ Closed-End Funds ,
Disclosure Requirements ,
Division of Investment Management ,
Filing Requirements ,
Internal Revenue Code (IRC) ,
Investment Company Act of 1940 ,
Investment Funds ,
Investment Management ,
New Guidance ,
Private Funds ,
Registered Investment Advisors ,
Registration Requirement ,
Regulatory Requirements ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC)
On August 7, 2025, President Trump signed an Executive Order (the “Order”) aiming to facilitate the use of alternative investment assets, such as private equity, real estate, venture capital, digital assets, and hedge funds,...more
8/13/2025
/ 401k ,
Defined Contribution Plans ,
Department of Labor (DOL) ,
Digital Assets ,
Employee Retirement Income Security Act (ERISA) ,
Executive Orders ,
Popular ,
Private Equity ,
Private Funds ,
Retirement Plan ,
Securities and Exchange Commission (SEC)
On July 30, 2025, the White House released a 166-page report titled “Strengthening American Leadership in Digital Financial Technology” (the “Report”).[1] Authored by a working group of cabinet members and federal agency...more
8/7/2025
/ AML/CFT ,
Banking Sector ,
Biden Administration ,
Blockchain ,
CFTC ,
Cryptocurrency ,
Cybersecurity ,
Decentralized Finance (DeFi) ,
Department of Justice (DOJ) ,
Digital Assets ,
Enforcement Actions ,
Financial Regulatory Reform ,
FinTech ,
IRS ,
Multi-Factor Authentication ,
NIST ,
Popular ,
Regulatory Reform ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Stablecoins ,
U.S. Treasury
On July 29, 2025, the Securities and Exchange Commission (SEC) signaled a significant policy shift, approving orders that permit in-kind creations and redemptions for crypto asset exchange-traded products (ETPs). This marks a...more
8/4/2025
/ Bitcoin ,
Blockchain ,
Capital Markets ,
Cryptoassets ,
Cryptocurrency ,
Digital Assets ,
Exchange-Traded Products ,
Investment ,
Investment Management ,
Investors ,
New Rules ,
Regulatory Requirements ,
Securities and Exchange Commission (SEC) ,
Securities Regulation
On July 1, 2025, the Staff of the Division of Corporation Finance (the “Staff”) of the U.S. Securities and Exchange Commission (SEC) released new guidance on disclosure requirements for offerings and registrations of...more
On September 27, 2024, the U.S. Securities and Exchange Commission (the SEC) adopted amendments to Regulation S-T, resulting in major changes to the Electronic Data Gathering, Analysis, and Retrieval (EDGAR) System for SEC...more
7/29/2025
/ Compliance ,
Corporate Counsel ,
Disclosure Requirements ,
EDGAR ,
Filing Requirements ,
Financial Markets ,
Financial Services Industry ,
Publicly-Traded Companies ,
Regulatory Agenda ,
Regulatory Reform ,
Regulatory Requirements ,
Reporting Requirements ,
Securities and Exchange Commission (SEC)
On July 21, 2025, the U.S. Department of the Treasury’s (“Treasury”) Financial Crimes Enforcement Network (FinCEN) announced it will delay the effective date of the final rule establishing anti-money laundering/countering the...more
7/23/2025
/ AML/CFT ,
Anti-Money Laundering ,
Banks ,
BSA/AML ,
Effective Date ,
Final Rules ,
FinCEN ,
Investment Management ,
Regulatory Reform ,
Regulatory Requirements ,
Reporting Requirements ,
Rulemaking Process ,
SAR ,
Suspicious Activity Reports (SARs) ,
U.S. Treasury
On May 15, 2025, the Division of Trading and Markets (the “Division”) of the U.S. Securities and Exchange Commission (SEC) and the Office of General Counsel of the Financial Industry Regulatory Authority, Inc. (FINRA)...more
Each week of the first 100 days of the new Trump administration, we will publish updates on key federal financial services regulatory and related developments. This week, we review the following developments as of Wednesday:...more
Each week of the first 100 days of the new Trump administration, we will publish updates on key federal financial services regulatory and related developments. This week, we review the following developments as of Wednesday:...more
Each week of the first 100 days of the new Trump administration, we will publish updates on key federal financial services regulatory and related developments. This week, we review the following developments as of Wednesday:...more
On April 4, 2025, the staff of the U.S. Securities and Exchange Commission (SEC or “Commission”) Division of Corporation Finance (“Staff”) issued a statement on stablecoins (the “Stablecoin Statement”), outlining the Staff’s...more
4/9/2025
/ Cryptoassets ,
Digital Assets ,
Enforcement Actions ,
Financial Markets ,
Howey ,
Investment Contract ,
Popular ,
Regulatory Requirements ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Stablecoins
On April 1, 2025, the House Financial Services Committee issued a press release regarding a number of Committee requests to various federal agencies for rescission, modification, or re-proposal of specific Biden...more
On March 19, 2025, the staff of the SEC’s Division of Investment Management issued two new FAQs related to Rule 206(4)-1 under the Investment Advisers Act of 1940 (the “Rule”). The new guidance reduces the complexity of the...more
3/28/2025
/ Asset Management ,
Disclosure Requirements ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Investment Management ,
Marketing ,
New Guidance ,
Private Funds ,
Regulatory Requirements ,
Securities and Exchange Commission (SEC) ,
Securities Regulation
On March 26, 2025, the House Financial Services Committee Subcommittee on Financial Institutions held a hearing, entitled “A New Era for the CFPB: Balancing Power and Reprioritizing Consumer Protections.”...more
On March 14, 2025, a judge in the U.S. District Court for the District of Maryland declined to grant a temporary injunction to the City of Baltimore and the Economic Action Maryland Fund. The plaintiffs had requested an...more
3/21/2025
/ Bank Secrecy Act ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Enforcement Actions ,
FDIC ,
Federal Reserve ,
Financial Regulatory Reform ,
FinTech ,
Military Lending Act ,
OCC ,
Regulatory Agenda ,
Stablecoins
Each week of the first 100 days of the new Trump administration, we will publish updates on key federal financial services regulatory and related developments. This week, we review the following developments as of Wednesday:...more
Each week of the first 100 days of the new Trump administration, we will publish updates on key federal financial services regulatory and related developments.
This week, we review the following developments as of Wednesday:...more
On February 27, 2025, the staff of the Securities and Exchange Commission’s Division of Corporate Finance (the “staff”) released its views on “meme coins,” stating that under certain circumstances, the offer and sale of “meme...more
On February 20, 2025, House Majority Leader Steve Scalise (R-La.) issued a list of priority regulatory targets for nullification under the CRA “in the coming weeks.” Included on the list is the CFPB’s December 10, 2024 final...more
On February 18, 2025, President Trump signed an Executive Order designed to reduce the power of federal independent agencies by bringing them under the purview of the White House. The Executive Order provides that it applies...more
2/21/2025
/ Congressional Review Act ,
Consumer Financial Protection Bureau (CFPB) ,
CRA ,
Executive Orders ,
Federal Reserve ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Regulation Z ,
Regulatory Reform ,
Stablecoins ,
Trump Administration
On February 7, 2025, newly confirmed Office of Management and Budget (OMB) director Russell Vought replaced Treasury Secretary Scott Bessent as acting director of the CFPB....more
2/14/2025
/ CFTC ,
Consumer Financial Protection Bureau (CFPB) ,
Cryptocurrency ,
Enforcement Actions ,
Federal Funding ,
Federal Reserve ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
OMB ,
Regulatory Agenda