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Hogan Lovells

HL UK Pensions Law Digest 11 December 2025

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Pension Schemes Bill: Virgin Media remedy - Provisions in the Bill will enable retrospective validation of rule changes which may have otherwise been invalid, following the Court of Appeal’s decision in the Virgin Media case....more

Littler

California Doubles Down on Diversity Data: The New Era of DEI Transparency in Venture Capital

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In October 2023, California enacted Senate Bill 54 (SB 54) to promote transparency in venture capital funding by requiring firms with a California nexus to report demographic data on the founding teams of their portfolio...more

Hogan Lovells

Banks and EMIs Face Detailed New Information and Account Direct Deduction Obligations as UK Public Authorities (Fraud, Error and...

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The Public Authorities (Fraud, Error and Recovery) Act 2025 received Royal Assent on 2 December 2025. The Act includes powers for the Minister for the Cabinet Office and the Department of Work and Pensions (DWP) to issue...more

Morgan Lewis

In The Know: Antitrust Enforcement Trends for Private Equity M&A

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The antitrust environment for private equity investors has entered a new phase marked by continued active enforcement, pragmatic settlements, and international expansion of merger-control regimes. For sponsors and portfolio...more

Robinson+Cole Data Privacy + Security Insider

FBI Warns of Account Takeover Fraud

On November 25, 2025, the Federal Bureau of Investigation (FBI) published a Public Service Announcement warning that cyber criminals are “impersonating financial institutions to steal money or information in Account Takeover...more

Mayer Brown Free Writings + Perspectives

House Passes Bipartisan Capital Formation Package: The INVEST Act

Today, the US House of Representatives passed a bipartisan capital formation bill, H.R. 3383 or the Incentivizing New Ventures and Economic Strength Through Capital Formation (“INVEST”) Act of 2025, 302 to 123. Announced by...more

DLA Piper

CFPB transfers active litigation to DOJ amid funding crisis

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The Consumer Financial Protection Bureau (CFPB) has announced the transfer of all its active litigation to the United States Department of Justice (DOJ), as the agency faces imminent funding shortfalls and a potential...more

DLA Piper

More than just a driving force for the German economy?

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Special funds have evolved from crisis instruments into economic policy financing tools – including Germany’s Special Fund for Infrastructure and Climate Neutrality (Sondervermögen, SVIK). With a volume of EUR500 billion...more

A&O Shearman

Global M&A Insights - Dealmaking Momentum Is On The Rise

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Welcome to the latest edition of M&A insights, where we explore the forces shaping transactional activity and predict what will drive dealmaking in the year to come....more

Fenwick & West LLP

AI Startups Keep Their Market Edge in Q3 2025, But Sustainability Questions Linger

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Q3 2025 confirmed what many venture observers suspected: startups deploying or developing AI technologies continue to command higher valuations than their non-AI peers, with 2.5x higher revenue multiples (20x vs. 8x). ...more

Jones Day

OCC Confirms Riskless Principal Transactions in Crypto Assets by Banks Are Permissible

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On December 9, 2025, the OCC issued Interpretive Letter #1188 to confirm that national banks may engage in riskless principal crypto-asset transactions, including transactions in assets that are not securities. Riskless...more

A&O Shearman

High Court interprets apparently broad close out rights narrowly

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The High Court has held that broadly framed “protection of interests” provisions did not permit a firm in special administration to close out its foreign exchange positions. Directions to close out sought - Argentex...more

Davidoff Hutcher & Citron LLP

How to Split the Pie: Equity, “Sweat” Ownership, and Investors in Restaurant Deals

Restaurant deals almost always involve some mix of: A chef or operator contributing sweat and expertise, One or more money partners, and Maybe a landlord, advisor, or brand partner in the background....more

Conyers

Conyers Coverage Issue 14 – Winter Edition 2025

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Welcome to the Winter edition of our Conyers Coverage newsletter. As always, we are pleased to bring you a jam-packed edition with timely legal and regulatory insights and details on industry developments from the Cayman...more

Vorys, Sater, Seymour and Pease LLP

Vorys Benefits Brief: Introduction to Trump Accounts

The One, Big, Beautiful Bill Act created a new savings vehicle for children: the Trump Account. Trump Accounts can be established beginning July 4, 2026 for any U.S. citizen with a valid Social Security number who is under...more

Lathrop GPM

Trump Accounts: Basics that Families, Foundations, Financial Institutions and Employers Should Know

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Trump Accounts can generally be described as restricted investment accounts for minors, layered with a type of individual retirement account once the minor reaches adulthood. ...more

Foodman CPAs & Advisors

CRS 3.0, CARF y FATCA: Riesgos de Reporte Transfronterizo para 2025–2026

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La transición a CRS 3.0 y la implementación de CARF para activos digitales están redefiniendo la manera en que se evalúa el reporte transfronterizo. Las instituciones financieras siguen siendo centrales en las obligaciones de...more

A&O Shearman

Transactional activity in Europe gains momentum heading into 2026

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European M&A markets are showing signs of renewed vigor, with growth in deal values despite ongoing macroeconomic and regulatory challenges. Here we explore shifting dynamics across three of Europe’s most active markets, and...more

Foodman CPAs & Advisors

CRS 3.0, CARF, and FATCA: Cross-Border Reporting Risks for 2025–2026

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The transition to CRS 3.0 and the implementation of CARF for digital assets are redefining how cross-border reporting is examined. Financial institutions remain central to FATCA and CRS reporting, but CARF expands the...more

Hughes Hubbard & Reed LLP

New York’s Beneficial Ownership Reporting Regime to Take Effect Jan. 1, 2026 – What to Know

The New York LLC Transparency Act (NYLLCTA) takes effect on Jan. 1, 2026 (as we previously covered here and here). The NYLLCTA was largely modeled on the Corporate Transparency Act (CTA), a federal law that came into effect...more

Lowenstein Sandler LLP

Crypto Brief - Lowenstein Crypto Newsletter - December 11, 2025

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On Dec. 8, Caroline D. Pham, acting chair of the Commodities Futures Trading Commission (CFTC), announced a digital assets pilot program enabling certain digital assets to be used as collateral in derivatives markets. Pham...more

A&O Shearman

Asia-Pacific dealmaking fueled by strong activity in Japan and China

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Japan and China were the mainstays of M&A across Asia Pacific in 2025, with regulatory reforms and restructurings in China, and a sustained run of take-privates in Japan, driving a significant proportion of regional deal...more

Herbert Smith Freehills Kramer

Compliance Crossroads: Managing Privacy Requests And Tipping Off Risks As An AML/CTF Reporting Entity

Reporting entities are already familiar with the real challenges that can arise when seeking to meet their customer due diligence and ML/TF risk management obligations without engaging in “tipping off”. While recent changes...more

Fenwick & West LLP

Securities Law Update - December 2025

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Welcome to the latest edition of Fenwick’s Securities Law Update. This issue contains updates and important reminders on the following topics...more

Latham & Watkins LLP

FCA Proposes Changes to MiFID Client Categorisation Rules

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The FCA wants to reset how firms distinguish between retail and professional clients, balancing promoting growth with consumer protection....more

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