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Mayer Brown

Bénéficiaire effectif et non-application d’un taux réduit de retenue à la source en présence de dividendes versés à une société...

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Le Tribunal administratif de Paris valide la remise en cause par l’administration fiscale du taux réduit de retenue à la source de 5 % prévu par la convention franco-luxembourgeoise en présence de dividendes versés à une...more

Orrick, Herrington & Sutcliffe LLP

Fed Requests Comment on the Future of Agency’s Check Services

On December 9, the Fed published an RFI in the Federal Register requesting public input on the future of the Fed’s check services. In its notice, the Fed will assess possible strategies for the future of checks, acknowledging...more

Orrick, Herrington & Sutcliffe LLP

CFPB Publishes Eight Notices on Reinstating OMB Requirements

On December 9 and 10, the CFPB published eight notices in the Federal Register requesting comment on reinstating OMB approvals for existing information collections. The CFPB invited comments as to whether the collection of...more

GeoDataVision

When Regulatory Relief is not Regulatory Relief

GeoDataVision on

There’s a lot of things in the world of bureaucratic regulations that don’t appear to make sense and can be downright funny and frustrating at times. For example, when I was in the state senate in Connecticut the Department...more

Orrick, Herrington & Sutcliffe LLP

District Court Lifts Stay in Alleged Predatory Financing Case Brought by CFPB

On December 3, the U.S. District Court for the Southern District of Texas lifted a stay in a case brought by the CFPB against several affiliated defendants, following a lapse in federal appropriations that had stayed...more

Sullivan & Worcester

SGX-Nasdaq Dual Listing Framework - Opening New Doors for East Asian Companies

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On November 19, 2025, Singapore Exchange ("SGX") and Nasdaq announced a proposed "Global Listing Board" framework enabling companies to file a single prospectus acceptable to both Singapore and U.S. regulators....more

Bradley Arant Boult Cummings LLP

How Will the Cannabis World Look When Marijuana Is Rescheduled? (UPDATED)

A few weeks ago, someone at a holiday party asked “Whitt, why doesn’t Budding Trends take on the weighty legal issues of the day and instead resort to cheap pop culture references and puns?” I thought about responding with a...more

BakerHostetler

Weekly Blockchain Monitor - December 2025 #2

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Payments and Digital Assets Companies Announce Stablecoin Initiatives - A leading global payments network and a stablecoin infrastructure platform recently announced a partnership focused on cross-border stablecoin-based...more

Bradley Arant Boult Cummings LLP

Meet the New Disruptor in the Music Business: The Family Office

This is a new ongoing series about the business of music with a SPIN twist. There’s a new headliner in the music business, and it’s not on stage. It’s in the wings, in a tailored suit, with a checkbook bigger than the tour...more

Orrick, Herrington & Sutcliffe LLP

New York Updates UCC Law to Address Emerging Technologies in Commercial Transactions

On December 5, the governor of New York signed into law an act to amend the state’s UCC, aiming to address emerging technologies and update rules for commercial transactions involving virtual currencies. The legislation...more

Orrick, Herrington & Sutcliffe LLP

Minnesota Appeals Court Affirms Broad Application of Debt Collection Licensing Requirements

Recently, the Minnesota Court of Appeals affirmed a cease-and-desist order against a Utah-based company for allegedly conducting unlicensed debt collection in Minnesota. The court held Minnesota’s collection agency statutes...more

Hogan Lovells

Final Texts for PSD3 and PSR Awaited as European Parliament and Council of EU Announce Provisional Political Agreement

Hogan Lovells on

On 27 November 2025, the European Parliament and the Council of the EU announced that they have reached a provisional political agreement on the texts of the proposed Directive on payment services and electronic money...more

Orrick, Herrington & Sutcliffe LLP

New York Enacts Law Adding Civil Penalties for Unlicensed Acts

On December 5, the governor of New York signed into law new provisions to amend the state’s financial services laws in connection with engaging in certain activities without a license. Specifically, the amendment adds §...more

Barnea Jaffa Lande & Co.

Israel Securities Authority Regulates Online Advertising: Mutual Funds, Likes, Influencers, and Everything in Between

Barnea Jaffa Lande & Co. on

The Israel Securities Authority published a new staff position recently on the regulation of advertising in digital space (including on social networks), focusing on advertising relating to mutual funds. The staff position...more

Orrick, Herrington & Sutcliffe LLP

OCC Confirms National Banks May Engage in ‘Riskless Principal’ Digital Assets Transactions

On December 9, the OCC issued an interpretive letter, confirming that national banks may engage in “riskless principal” transactions involving digital assets as part of the business of banking. The OCC stated these...more

Orrick, Herrington & Sutcliffe LLP

OCC Head Speaks How Banks Could Embrace Digital Assets

On December 8, the OCC published a speech made by Comptroller of the Currency Jonathan V. Gould at an industry policy summit on his commitment to chartering new banks, aligning the importance of de novo chartering with novel...more

Orrick, Herrington & Sutcliffe LLP

FinCEN Reports Ransomware Payments Exceeded $2.1B From 2022 to 2024

On December 4, FinCEN released a financial trend analysis showing that reported ransomware payments in BSA data totaled more than $2.1 billion between January 2022 and December 2024. FinCEN received 7,395 BSA reports related...more

Orrick, Herrington & Sutcliffe LLP

FinCEN Fines Virtual Currency Platform $3.5M for BSA Violations Tied to Illicit Activity

On December 9, FinCEN announced a consent order levying a $3.5 million civil money penalty against a peer-to-peer virtual currency trading platform for willful BSA violations. FinCEN alleged the company facilitated more than...more

Orrick, Herrington & Sutcliffe LLP

Democratic Senators Raise Concerns Over Potential Mortgage Market Disruption if CFPB is Shuttered

On December 3, Senators Elizabeth Warren (D-MA), Raphael Warnock (D-GA), Ruben Gallego (D-AZ), and Andy Kim (D-NJ) published a letter to CFPB Acting Director Russell Vought expressing concern that efforts to close the agency...more

Orrick, Herrington & Sutcliffe LLP

Court Approves Joint Motion to Reduce CFPB’s $5M Settlement With Student Loan Trusts and Servicer

On December 8, a judge in the U.S. District Court for the Middle District of Pennsylvania granted a joint motion filed by the CFPB and parties to a student loan enforcement action to modify previously proposed stipulated...more

Orrick, Herrington & Sutcliffe LLP

Court Grants Former Fed Officials’ Motion for Leave to File Amici Curiae Brief in Support of CFPB Union, CFPB Responds to Motion...

On December 5, former Fed officials moved for leave to file a brief as amici curiae in the U.S. District Court for the District of Columbia in support of the CFPB union’s motion to clarify the term “combined earnings” as...more

Orrick, Herrington & Sutcliffe LLP

Nonprofit Groups Challenge CFPB’s Refusal to Request Funding From the Fed

On December 5, a coalition of nonprofit organizations filed a complaint seeking declaratory and injunctive relief in the U.S. District Court for the Northern District of California against the CFPB and Acting Director Russell...more

Orrick, Herrington & Sutcliffe LLP

Joint Status Report Indicates CFPB Plans to Issue ‘Interim’ Final Section 1033 Rule Amid Funding Concerns

On December 8, the parties in ongoing litigation over the CFPB’s Personal Financial Data Rights rule (covered by InfoBytes here) filed a joint status report in the U.S. District Court for the Eastern District of Kentucky. The...more

DLA Piper

Innovation Law Insights - December 2025 # 2

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Legal Break - Age verification in Italy: What adult content websites must do now - As part of our “Legal Break” video series, we discuss the impact of the Caivano Decree, which introduces a significant change: as of 12...more

Jones Day

2025 FinAccelerations - US Digital Assets Publications

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The Office of the Comptroller of the Currency (the "OCC") has held for the first time that national banks may hold crypto assets as principal on their balance sheet in order to pay reasonably expected amounts of "network...more

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