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Troutman Pepper Locke

Nonprofits Sue to Force CFPB to Accept Funding from the Federal Reserve

Troutman Pepper Locke on

Three nonprofit organizations have filed a complaint in the Northern District of California seeking declaratory and injunctive relief to prevent what they describe as a de facto shutdown of the Consumer Financial Protection...more

Proskauer - Regulatory & Compliance

SEC Division of Investment Management Director Brian Daly Signals Innovation-Forward Agenda, Positioning AI at the Forefront of...

On December 2, 2025, Brian Daly, Director of the Securities and Exchange Commission (the “SEC”) Division of Investment Management (the “Division”), delivered remarks to the American Bar Association outlining the Division’s...more

Proskauer - Regulatory & Compliance

SEC Again Extends Short Sale and Securities Lending Rules’ Compliance Deadlines to 2028 While It Considers Response to Court...

On December 3, 2025, the Securities and Exchange Commission (the “SEC”) issued an exemptive order to postpone the compliance deadline for Rule 13f-2 under the Securities Exchange Act of 1934 by two years. The new deadline...more

Proskauer - Regulatory & Compliance

FCA Consults on Client Categorisation and Conflicts of Interest Regimes

On 8 December 2025, the United Kingdom’s Financial Conduct Authority (“FCA”) published a consultation paper (CP25/36) on amending its rules on client categorisation and conflicts of interest (the “Consultation Paper”)....more

Ankura

Navigating Regional Sanctions Risks: Insights from the FinCEN Report on Iranian Shadow Banking

Ankura on

In October 2025, the U.S. Financial Crimes Enforcement Network (FinCEN) released its latest Financial Trend Analysis (FTA) on Iranian shadow banking.  The report offers one of the clearest pictures to date of how Iran...more

ArentFox Schiff

2026 SEC Examination Priorities for Investment Advisers

ArentFox Schiff on

No need to bring a crib sheet, the US Securities and Exchange Commission (SEC) Division of Examinations just revealed (some of) this year’s test....more

Crunched Credit

If You’re Planning to Attend the Party, You Best Be Sure Interest Rates Are Coming Down

Crunched Credit on

There’s an awful lot of happy talk going around about 2026. Apparently, that’s the year we were supposed to stay alive till. I surely hope the talk is right, even if it doesn’t rhyme. 2025 was a pretty darn good year for...more

Davis Wright Tremaine LLP

CFTC Issues Guidance on Tokenized Collateral and Other Crypto Sprint Developments

In furtherance of its Crypto Sprint initiative and its implementation of the recommendations in the White House digital asset report ("White House Report") released over the summer, on December 8, 2025, the CFTC issued new...more

Walkers

The key challenges in digital assets: What is keeping leaders up at night?

Walkers on

Institutional clients prioritise scale, credibility and compliance in the digital assets sector. Distribution challenges and strict marketing restrictions remain as significant hurdles for businesses....more

Procopio, Cory, Hargreaves & Savitch LLP

The SEC’s New Guidance on PSEs: What Broker-Dealers Need to Know

The U.S. Securities and Exchange Commission’s Division of Trading and Markets has finally answered a question that has hovered over independent broker-dealers for years: when can a registered representative’s own LLC or...more

A&O Shearman

UK FPC Assessment Of Bank Capital Requirements

A&O Shearman on

The Bank of England's (BoE) Financial Policy Committee (FPC) has published a Financial Stability in Focus report, revisiting its assessment of bank capital requirements. The FPC now judges that the appropriate benchmark for...more

Troutman Pepper Locke

Delaware Imposes Nearly $1M Penalty on Investment Adviser for Registration, Supervision, and Recordkeeping Failures

Troutman Pepper Locke on

On November 21, Delaware Attorney General Kathy Jennings’s Investor Protection Unit (IPU) announced a $995,180 penalty against Kovack Advisors, Inc. (Kovack) for a series of violations of the Delaware Securities Act. The...more

Herbert Smith Freehills Kramer

Sanctions Tracker – Enforcement Action by the Australian Federal Police

The Australian Federal Police (AFP) has charged the director of a registered remittance company for allegedly remitting approximately $649,000 to sanctioned Iranian banks, in contravention of Australia’s autonomous sanctions...more

A&O Shearman

UK FCA Update On Review Of Access To Cash Regime

A&O Shearman on

The UK Financial Conduct Authority (FCA) has published an update on its forthcoming review of the access to cash regime. The regime, introduced under the Financial Services and Markets Act 2023, seeks to maintain responsible...more

Eversheds Sutherland (US) LLP

CFTC Issues No-Action Relief Related To CPO Registration For Certain Credit Risk Transfer Transactions

On November 21, 2025, the Market Participants Division of the Commodity Futures Trading Commission (CFTC) issued a no-action letter granting relief to financial institutions engaging in certain credit risk transfer (CRT)...more

A&O Shearman

SRB Upcoming Consultations And Requests To The Industry For 2026

A&O Shearman on

The Single Resolution Board (SRB) has published a list of consultations and industry requests for 2026. The list is presented in four tables covering expected consultations, data requests and deliverables arising from EU...more

White & Case LLP

Mexican Borrowers Lean On Structured Finance In Volatile Market

White & Case LLP on

Structured finance has provided Mexican borrowers with a reliable source of capital through a period of political and macroeconomic uncertainty - In an uncertain market, where Mexican lenders have grappled with new...more

Ballard Spahr LLP

Trump Administration asks Supreme Court to allow President to fire FTC member without cause

Ballard Spahr LLP on

The Supreme Court should abandon a 90-year-old precedent and decide that President Trump should be permitted to fire Rebecca Slaughter from the Federal Trade Commission without cause, Solicitor General D. John Sauer told the...more

A&O Shearman

UK PRA Issues 2025 Sector Assessment Letter To Credit Union Directors

A&O Shearman on

The UK Prudential Regulation Authority (PRA) has published a letter addressed to credit union directors. It summarises key findings from its 2025 assessment of credit unions with assets up to GBP50 million and sets out...more

Troutman Pepper Locke

Point-of-Sale Finance Series: The Holder Rule at 50 — The Consumer Finance Podcast

Troutman Pepper Locke on

In this crossover episode of The Consumer Finance Podcast and Payments Pros, Jason Cover sits down with Brooke Conkle and Caleb Rosenberg to demystify the Federal Trade Commission's Holder Rule and its day-to-day impact on...more

Thomas Fox - Compliance Evangelist

Compliance Tip of the Day - What are AI Powered Internal Controls?

Welcome to “Compliance Tip of the Day,” the podcast that brings you daily insights and practical advice for navigating the ever-evolving landscape of compliance and regulatory requirements. Whether you’re a seasoned...more

Thomas Fox - Compliance Evangelist

AI Today in 5: December 11, 2025, The FINRA and AI Edition

Welcome to AI Today in 5, the newest edition to the Compliance Podcast Network. Each day, Tom Fox will bring you 5 stories about AI to start your day. Sit back, enjoy a cup of morning coffee, and listen in to the AI Today In...more

Thomas Fox - Compliance Evangelist

Daily Compliance News: December 11, 2025, The Jack Smith Opens New Law Firm Edition

Welcome to the Daily Compliance News. Each day, Tom Fox, the Voice of Compliance, brings you compliance-related stories to start your day. Sit back, enjoy a cup of morning coffee, and listen in to the Daily Compliance News....more

Cadwalader, Wickersham & Taft LLP

Regulator Alphabet Soup, December 2025 - CFPB Examiner Humility Pledge and Funds Woes

The Consumer Financial Protection Bureau (“CFPB”), which has seen the scope of its activities, funding and staffing dramatically impacted since January of this year, has introduced a “Humility Pledge” that must be read at the...more

Epstein Becker & Green

A Potential New Path for School Districts to Settle Child Victims Act Cases: New York’s Limited Finance Law Amended to Assist...

Epstein Becker & Green on

Although the window for filing lawsuits under the Child Victims Act (CVA) closed over four years ago, thousands of cases remain pending in courts throughout New York State....more

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