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Payactiv

Maryland Enacts Landmark Earned Wage Access Legislation

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On May 27, 2025, Maryland enacted first-of-its-kind earned wage access (EWA) legislation to ensure Maryland workers are able to retain continued access to this valuable employee benefit. This landmark legislation follows...more

Ballard Spahr LLP

New York Gov. Hochul signs legislation that includes BNPL Licensing Requirements and other Consumer Protection Provisions

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New York Gov. Kathy Hochul has signed legislation that, among other things, imposes new licensing requirements on Buy Now, Pay Later services....more

Latham & Watkins LLP

UK Government Publishes Initial Proposals on CCA Reform

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Government consults on the first stage of reforming the UK consumer credit regime, covering information requirements, sanctions, and criminal offences....more

Mintz

SEC Commissioner Uyeda Suggests the SEC Will Not Rescind the Climate Disclosure Rule

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SEC Commissioner Uyeda, one of the Republican appointees to the Securities & Exchange Commission, recently stated (in remarks at the 2025 “SEC Speaks” Conference) that the SEC should not rescind the climate disclosure rule...more

A&O Shearman

GHOS Meeting: Basel III implementation and climate-related financial risks

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The Group of Central Bank Governors and Heads of Supervision (GHOS), the oversight body of the Basel Committee on Banking Supervision (BIS), met to discuss the implementation of Basel III and its work on climate-related...more

Orrick, Herrington & Sutcliffe LLP

New York governor announces financial services updates for state

On May 9, New York Governor Kathy Hochul announced several updates related to financial services for the State of New York. Hochul announced new legislation as part of the FY26 enacted budget to regulate “Buy Now, Pay Later”...more

A&O Shearman

EC call for evidence for the revision of SFDR

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The European Commission (EC) has published a call for evidence to inform the revision of the Sustainable Finance Disclosure Regulation (SFDR), which is planned for Q4 2025. The focus of the review will be to address burdens...more

Latham & Watkins LLP

EU Listing Act - Regulatory Divergence Between EU and UK MAR

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Until recently, the UK and EU post-Brexit market abuse regimes remained substantially aligned. However, the passing of the EU Listing Act reforms in 2024 has meant that UK and EU MAR have started to diverge meaningfully for...more

Troutman Pepper Locke

New Virginia Law Mandates Disclosure of Mandatory Fees in Consumer Transactions, Subject to Certain Exemptions

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On May 2, Virginia Governor Glenn Youngkin signed Senate Bill 1212 (SB 1212) into law, introducing new requirements and prohibitions under the Virginia Consumer Protection Act. Specifically, SB 1212 targets the disclosure of...more

Katten Muchin Rosenman LLP

Replacing UK PRIIPs: FCA Consults on Further Proposals for Consumer Composite Investments

The UK Financial Conduct Authority (FCA) has recently published a consultation paper (CP25/9) setting out further proposals on product information for consumer composite investments (CCIs), i.e., investments where the returns...more

WilmerHale

FCA's Regulatory Plans Signal Cause For Cautious Optimism

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Supporting growth, fighting crime, helping consumers and being a smarter regulator: These are the four predictable priorities identified in the Financial Conduct Authority's 2025-2030 strategy document, released on March 25. ...more

Hogan Lovells

ESMA consults on private templates for Securitisation Disclosure – more haste, less speed

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The ESMA Consultation comes at an interesting time when the possibility of streamlining template reporting is being considered as part of the wider review of the European Securitisation Regulation (EUSR) and as considered...more

Jones Day

Developments in Crypto Regulation: DeFi Tax Reporting Repeal and SEC Disclosure Guidance

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The Trump administration continues its efforts to relax digital asset regulation, including most recently by exempting decentralized finance ("DeFi") apps and wallets from tax reporting and through Securities and Exchange...more

Troutman Pepper Locke

Texas Introduces Legislation to Regulate Sales-Based Commercial Financing

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Last month, the Texas legislature introduced two companion bills, S.B. No. 2677 and H.B. No. 700, to regulate sales-based commercial financing. For purposes of the proposed legislation, sales-based financing is a transaction...more

Cooley LLP

Nasdaq’s Recommendations for a Better Capital Market

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Last week, Nasdaq released this interesting paper that sets forth a set of recommendations to improve the capital markets. Nasdaq believes its recommendations not only come out at a critical time when policymakers have real...more

Keating Muething & Klekamp PLL

Pay vs. Performance and Cybersecurity Disclosure Rules: Will the SEC Retract Rulemaking?

On March 31, 2025, members of the U.S. House of Representatives Committee on Financial Services sent a letter to Mark Uyeda, Acting Chairman of the U.S. Securities and Exchange Commission. Seeking to “undo the damage from...more

Hogan Lovells

UK PRA consults on changes to FSCS protection limits and amendments required for Bank Resolution (Recapitalisation) Bill

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Proposed increases in the deposit protection limit from £85,000 to £110,000 and in the temporary high balance limit from £1 million to £1.4 million would take effect from 1 December 2025. There would be a transitional period...more

BCLP

Revitalising the EU Securitisation Market: Recommendations for a Revised Regulatory Framework

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The European Union's securitisation market has struggled to reach its full potential despite the introduction of the Securitisation Regulation (SECR) in 2019. While the market has shown modest growth in recent years,...more

Mayer Brown

New NAIC Risk-Based Capital Task Force Launches; Financial Stability Task Force Reviews Key Priorities

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Two important meetings were held on March 17, 2025 by task forces of the National Association of Insurance Commissioners (“NAIC”): the newly launched Risk-Based Capital Model Governance (EX) Task Force (“RBCMG TF”); and...more

Latham & Watkins LLP

FCA Publishes 5-Year Strategy and Outcome of Rule Review

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FCA outlines its priorities and areas in which it plans to reduce the regulatory burden for firms. On 25 March 2025, the FCA published its five-year strategy (Strategy), alongside the outcome of its review of retail conduct...more

Troutman Pepper Locke

Arkansas Passes Earned Wage Access Services Act

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On March 20, the Arkansas governor signed into law Arkansas Act 347, known as the Earned Wage Access Services Act. Sponsored by Representative David Ray (R) and Senator Ben Gilmore (R), this legislation aims to regulate...more

Woods Rogers

Treasury Department Suspends Enforcement of the Corporate Transparency Act Against U.S. Citizens and Domestic Reporting Companies

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Consistent with the Treasury Department’s March 2, 2025 announcement, the Financial Crimes Enforcement Network (FinCEN) issued an interim final rule on March 21, 2025 that removes the requirement for U.S. companies and U.S....more

Ballard Spahr LLP

Consumer Finance Monitor Podcast Episode: How to Use the Restatement of Consumer Contracts - A Guide for Judges

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Today’s podcast show features a discussion with Professor Gregory Klass of Georgetown University Law School about an article he co-authored with Professor Ian Ayres, entitled “How to Use the Restatement of Consumer Contracts:...more

A&O Shearman

FCA statement on motor finance review next steps

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The UK Financial Conduct Authority (FCA) has published a statement informing firms, consumers and stakeholders of next steps in its review of the past use of motor finance discretionary commission arrangements. The Court...more

DLA Piper

Chile: Comisión para el Mercado Financiero Define Nuevos Requisitos para Directores Independientes

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La Comisión para el Mercado Financiero (CMF) de Chile publicó la Norma de Carácter General Nº533 (NCG 533) el 12 de marzo de este año, que define requisitos y condiciones para ser considerado director independiente y que...more

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