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Disclosure Requirements Regulatory Oversight

Hogan Lovells

UK Financial Conduct Authority publishes its revised Enforcement Guide

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The UK’s Financial Conduct Authority (FCA) has published Policy Statement PS25/5, Our Enforcement Guide and greater transparency of our enforcement investigations, setting out the changes it is making to its Enforcement Guide...more

ArentFox Schiff

SEC’s New Concept Release on Foreign Private Issuer Standards

ArentFox Schiff on

On June 4, the US Securities and Exchange Commission (SEC) published a concept release soliciting public comment on potential amendments to the definition of foreign private issuer (FPI) under US securities laws....more

Troutman Pepper Locke

4 Actions for Cos. as SEC Rebrands Cyber Enforcement Units

Troutman Pepper Locke on

On Feb. 20, the U.S. Securities and Exchange Commission announced the creation of the Cyber and Emerging Technologies Unit, which will replace the Enforcement Division’s previous Crypto Assets and Cyber Unit. Originally...more

GeoDataVision

Why Do Federal Bank Regulators Create a Commercial Monopoly on Key Benchmark Data?

GeoDataVision on

Ever since the 1995 CRA rule was published bank regulators have mandated certain “community” and “market” benchmarks as the basis for rating bank performance under the CRA regulations. Most of that data is in the public...more

A&O Shearman

FCA launches IAAT

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The UK Financial Conduct Authority (FCA) has launched the investment advice assessment tool (IAAT) to help personal investment firms assess the suitability of their investment advice and disclosures to consumers (excluding...more

White & Case LLP

FSR & Public Tenders in the EU: Key Insights at the Two-Year Mark

White & Case LLP on

Two years into the implementation of the EU Foreign Subsidies Regulation (FSR), the number of FSR filings under its public procurement tool exceeds 2,000, with scrutiny now by a recently established specialised unit within DG...more

DLA Piper

Time to Reassess The Definition of a Foreign Private Issuer?

DLA Piper on

As discussed at an open meeting held on June 4, 2025, the US Securities and Exchange Commission (Commission) published a concept release (Release) soliciting comments on whether to revise the definition of “foreign private...more

A&O Shearman

The FCA’s revised Enforcement Guide: Key policy changes to be aware of

A&O Shearman on

The UK Financial Conduct Authority (FCA) has updated its Enforcement Guide, including its revised policy on when it will announce details of enforcement investigations. Following a consultation process that was subject to...more

A&O Shearman

IOSCO final report and guidance for liquidity risk management for CIS

A&O Shearman on

The International Organization of Securities Commissions (IOSCO) has published its final report containing revised recommendations for liquidity risk management for collective investment schemes (CIS), accompanied by...more

A&O Shearman

IOSCO publishes final reports on finfluencers, online imitative trading practices and digital engagement practices

A&O Shearman on

The International Organization of Securities Commissions (IOSCO) has published final reports on finfluencers, online imitative trading practices and digital engagement practices, accompanied by a press release. These reports...more

A&O Shearman

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

A&O Shearman on

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

ESMA consultation on transparency and integrity of ESG rating activities

A&O Shearman on

The European Securities and Markets Authority (ESMA) has published a consultation paper on draft regulatory technical standards (RTS) on the transparency and integrity of environmental, social and governance (ESG) rating...more

Vedder Price

SEC Division of Corporation Finance Staff Issues Guidance on Crypto Assets

Vedder Price on

As previously summarized here, since SEC Commissioner Mark T. Uyeda was named Acting Chairman on January 21, 2025, the SEC has significantly shifted its approach to cryptocurrency regulation and enforcement actions, including...more

A&O Shearman

FCA findings on multi-firm review of trading apps

A&O Shearman on

The UK Financial Conduct Authority (FCA) has published a webpage summarising the findings from its multi-firm review of trading apps, together with a press release. The FCA notes that this is a growing sector allowing more...more

Proskauer - Regulatory & Compliance

Sustainability-Related Governance, Incentives and Competence – FCA Confirms No New Rules for Now

In February 2023, the United Kingdom Financial Conduct Authority (“FCA”) published a discussion paper (DP23/1) to encourage an industry-wide dialogue on firms’ sustainability-related governance, incentives, and competence...more

Faegre Drinker Biddle & Reath LLP

FINRA’s Focus on Account Recommendations and Rollovers

FINRA’s continued focus on account recommendations and rollovers is evident in its 2025 FINRA Annual Regulatory Oversight Report (the Report), Based on the Report, broker-dealers and their registered representatives...more

Mintz - Health Care Viewpoints

New York Department of Health Issues Long-Awaited FAQs for New York’s Disclosure of Material Transactions Law

The first quarter of 2025 has been eventful for New York’s Disclosure of Material Transactions Law. As discussed in our recent blog post, the proposed Fiscal Year 2026 New York State Executive Budget (FY 26 Executive Budget)...more

A&O Shearman

ESMA guidelines on suitability requirements and format of the periodic statement for portfolio management activities under MiCAR

A&O Shearman on

Official translations of the guidelines on certain aspects of the suitability requirements and format of the periodic statement for portfolio management activities under the EU Markets in Crypto Assets Regulation (MiCAR) have...more

Proskauer Rose LLP

Confirmation Hearing for SEC Chair Nominee Atkins — Takeaways for Fund Managers

Proskauer Rose LLP on

The Senate Banking Committee convened on Thursday to consider the nomination of Paul Atkins, President Trump’s nominee for Chair of the Securities and Exchange Commission, along with the nominees for the Comptroller of the...more

Flaster Greenberg PC

SEC Offers Updated Guidance for Rule 506(c) Private Placements

Flaster Greenberg PC on

On March 12, 2025, the SEC published a No-Action Letter clarifying accredited investor verification requirements under Rule 506(c)....more

Cadwalader, Wickersham & Taft LLP

Amid Chaos, Regulatory Change Continues Apace, March 2025 - New CFTC Enforcement Guidance

On February 25th, 2025, the Commodity Futures Trading Commission’s (“CFTC”) Division of Enforcement (“Division”) issued a long-awaited advisory (the “Advisory”) regarding its evaluation of how a company’s or individual’s...more

Orrick, Herrington & Sutcliffe LLP

Massachusetts Attorney General introduces new regs against “junk fees”

On March 3, the Massachusetts Attorney General (AG) announced new regulations to combat so-called “junk fees” by requiring businesses to disclose total product costs upfront and simplify cancellation processes for trial...more

McCarter & English, LLP

FDA Finalizes Guidance on Communications Regarding Unapproved Uses of Medical Products

In January 2025, the US Food and Drug Administration (FDA) finalized its 2023 revised draft guidance Communications From Firms to Health Care Providers Regarding Scientific Information on Unapproved Uses of Approved/Cleared...more

Skadden, Arps, Slate, Meagher & Flom LLP

FCA’s Approach to Non-Bank Leverage and Implications for Market Participants

On 25 February 2025, Sarah Pritchard, executive director of consumers, competition, and international at the UK Financial Conduct Authority (FCA), delivered a speech at the Investment Association Roundtable where she outlined...more

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