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Orrick, Herrington & Sutcliffe LLP

FDIC and Illinois regulator close Chicago bank and oversee deposit transfer

On January 30, the Illinois Department of Financial and Professional Regulation announced that, in coordination with the FDIC, it had taken possession of a state-chartered bank in Chicago due to purportedly unsafe and unsound...more

Orrick, Herrington & Sutcliffe LLP

President Trump nominates Kevin Warsh for Fed chair

On January 30, the White House announced the nomination of Kevin Warsh to replace Jerome Powell as Fed chair when Powell’s term ends in May. According to the announcement, Warsh, while serving as a Fed governor, played a key...more

Orrick, Herrington & Sutcliffe LLP

District court sides with bank, dismisses putative class action over ‘cash-sweep’ program

On January 30, the U.S. District Court for the District of Minnesota dismissed with prejudice a proposed class action lawsuit brought by two investment-account holders challenging the interest rates paid through a...more

Friling Law

OFAC Subpoena: Enforcement Risk, Timelines, and Strategic Response Across Industries

Friling Law on

Overview and Key Takeaways - An Office of Foreign Assets Control (OFAC) subpoena is one of the most serious enforcement tools the U.S. Treasury uses in sanctions investigations. While it is administrative in form, it...more

Orrick, Herrington & Sutcliffe LLP

Education department proposes major overhaul of student loan rules

On January 30, the U.S. Department of Education issued an NPRM in the Federal Register proposing to amend regulations for federal student loan programs in order to implement the statutory directives from the One Big Beautiful...more

Foster Swift Collins & Smith

Tax Folks Update: Key Compliance Obligations for Brokers and Taxpayers Under Form 1099-DA

Brokers and their investor customers in digital assets should prepare, and tax professionals should prepare to assist, with reporting proceeds from certain digital asset transactions. See IRS FS-2025-06, Sept. 25, 2025....more

Orrick, Herrington & Sutcliffe LLP

CFPB reportedly set to resume virtual examinations

According to published reports, during a January 29 meeting with examination staff, senior members of the CFPB announced plans to resume examination activity as early as April 2026, but with the understanding that the amount...more

BakerHostetler

Weekly Blockchain Blog - February 2026 #2

BakerHostetler on

Digital Asset Integrations Signal Demand from Institutions, Derivatives Traders - Fireblocks, a major blockchain infrastructure platform, recently announced “the integration of the Canton Network, the privacy-enabled open...more

Orrick, Herrington & Sutcliffe LLP

Senators pen letter urging CFPB to rescind its ECOA disparate impact rule

On February 3, several U.S. senators sent a letter to CFPB Acting Director Russell Vought urging the Bureau to rescind its proposed rule that would end the ECOA’s disparate impact test, which would prevent the CFPB from...more

Holland & Knight LLP

Education Department Proposes RISE Committee Rules on Loan Limits and Repayment Plans

Holland & Knight LLP on

The U.S. Department of Education (ED) on January 30, 2026, published a notice of proposed rulemaking (NPRM) to implement certain changes in connection with the One Big Beautiful Bill Act (OBBB), including adjustments to...more

Cozen O'Connor

The State AG Report – 02.05.2026

Cozen O'Connor on

Here are curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: •AG Campbell Cancels Crypto Kiosk Crooks - •AG Coalition...more

Holland & Knight LLP

Increasing Private Equity Interest in U.S. Shipbuilding and the Jones Act Market

Holland & Knight LLP on

Private equity has over the past 15 years played a key role in the U.S. maritime industry, and today's regulatory landscape in the U.S. makes the U.S. maritime industry ripe with further opportunity for private equity funds....more

DLA Piper

ILPA Issues Its Continuation Fund Disclosure Template

DLA Piper on

The Institutional Limited Partners Association (ILPA) published its continuation fund disclosure template on January 27, 2026. The template addresses key information that limited partners use to initiate their internal...more

Orrick, Herrington & Sutcliffe LLP

CFPB requests feedback on burden and efficacy of consumer complaint intake form

On January 30, the CFPB published a notice in the Federal Register requesting that the Office of Management and Budget extend for a second time the CFPB’s request for public comment as part of its “Consumer Response Intake...more

Orrick, Herrington & Sutcliffe LLP

OCC conditionally approves charter for digital-focused bank

On January 29, the OCC conditionally approved an application for a national bank charter filed in September 2025. According to the company’s announcement, the proposed entity must now satisfy specific OCC conditions,...more

Orrick, Herrington & Sutcliffe LLP

SEC and CFTC relaunch ‘Project Crypto’ to harmonize digital asset regulation

On January 29, the SEC and CFTC jointly announced the relaunch of “Project Crypto”, with both agency chairs delivering remarks outlining a new phase in digital asset regulation as Congress advances digital asset market...more

Orrick, Herrington & Sutcliffe LLP

SEC official envisions AI modernizing adviser-investor communications

On February 3, SEC Director of the Division of Investment Management Brian Daly addressed how the division is considering the changes and opportunities AI affords investment advisers, investment companies, and investors. Daly...more

A&O Shearman

UK FOS Publishes Q3 2025/26 Complaints Data Showing Decline In Case Levels

A&O Shearman on

The UK Financial Ombudsman Service (FOS) has published its Q3 2025/26 complaints data, revealing a notable decline in case volumes to 47,300 complaints, down from 68,400 cases in the same period in 2024/25. This includes a...more

Skadden, Arps, Slate, Meagher & Flom LLP

UK Announces Updated Framework for Financial Sanctions Enforcement

On 29 January 2026, the UK Office of Financial Sanctions Implementation (OFSI) published its response to a public consultation on proposed changes to its enforcement processes....more

Patomak Global Partners

A New Chapter for Shareholder Proposals: Best Practices for Navigating the 2026 Proxy Season

In November 2025, the U.S. Securities & Exchange Commission’s (SEC) Division of Corporation Finance announced that, for the 2025–2026 proxy season, it will no longer issue substantive “no-action” letters for Rule 14a-8...more

Skadden, Arps, Slate, Meagher & Flom LLP

UK’s FCA Issues Final Guidance on Non-Financial Misconduct: How Firms Can Prepare

In December 2025, the FCA published its final Policy Statement and guidance (Final Guidance) on the treatment of non-financial misconduct (NFM) under the Code of Conduct (COCON) and the Fit and Proper (FIT) regime, with...more

Sheppard Mullin Richter & Hampton LLP

FINRA Highlights Supervisory Risks and Use Cases for Agentic AI in Financial Services

On January 27, FINRA released a discussion of agentic AI, describing how member firms are beginning to experiment with autonomous AI systems and identifying supervisory considerations associated with those early deployments....more

Patomak Global Partners

CFTC Chair Outlines Priorities for Prediction Markets and Digital Asset Market Structure

On January 29, Commodity Futures Trading Commission Chair Michael Selig made his first public remarks at the CFTC-SEC harmonization event. Among other things, Chairman Selig laid out the agency’s priorities, which included...more

A&O Shearman

UK JMLSG Final Amendments To Part 1 of AML/CFT Guidance

A&O Shearman on

The UK Joint Money Laundering Steering Group (JMLSG) has published final amendments to Part I of its anti-money laundering and counter-terrorist financing (AML/CFT) guidance for the financial services sector. This follows the...more

Eversheds Sutherland (US) LLP

Dual Registrant Regulatory Roundup - February 2026

Welcome to the Regulatory Roundup. Each month, Eversheds Sutherland Investment Services attorneys review significant regulatory developments (including notable rulemakings and guidance from securities regulators) from the...more

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