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United States: SEC’s Division of Corporation Finance Clarifies That Participation in Certain Proof-Of-Stake Activities Does Not...

On 29 May 2025, the SEC’s Division of Corporation Finance (the Division) issued a guidance statement (Statement) related to certain protocol staking activities. The Statement addresses the impact of federal securities laws on...more

United States: SEC’s Division of Trading and Markets Issues Crypto Asset-Related FAQs (And Withdraws Previous Guidance)

On 15 May 2025, the US Securities and Exchange Commission’s Division of Trading and Markets (Division) released Frequently Asked Questions (FAQs) clarifying how certain broker-dealer and transfer agency rules relate to crypto...more

Federal Banking Regulators Adopt a Permissive Stance on Cryptocurrency

The federal banking regulators have each recently adopted a more permissive approach to the regulation of cryptocurrency activities within the banking sector. The Office of the Comptroller of the Currency (OCC), the Federal...more

United States: The SEC Takes Another Key Step Toward Crypto Clarity

On the heels of other guidance issued by the US Securities Exchange Commission’s (SEC) Division of Corporation Finance (Division), the Division released a statement (Statement) on 10 April 2025 addressing its views about,...more

United States: Staff Cedes Jurisdiction Over Certain Stablecoins

On 4 April 2025, the SEC’s Division of Corporation Finance (Division) issued a statement (Statement) providing that the offer and sale of certain “Covered Stablecoins” do not involve the offer and sale of securities within...more

Asset Management Regulatory Year in Review 2024

2024 was a year of meaningful regulatory change for asset managers globally. The regulatory activity was wide ranging and without a particular unifying theme. In fact, the wide, and in cases diverging focuses of key global...more

SEC v. Wahi: An Enforcement Action Impacting the Broader Crypto/Digital Assets and Investment Management Industries

The U.S. Securities and Exchange Commission (SEC) has made a new crypto move—and its impact is broad. BACKGROUND - On 21 July, the SEC filed a complaint (Wahi complaint) in the U.S. District Court for the Western District of...more

FINRA Considers Limiting Self-Directed Investors' Ability to Invest in Certain Exchange-Traded Funds, Mutual Funds and Closed-End...

On 8 March 2022, the Financial Industry Regulatory Authority, Inc. (FINRA) issued Notice to Members No. 22-08 (NtM 22-08) to “remind members of their sales practice obligations” for complex products and options and to...more

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