In 2025, plaintiffs continued to file ERISA breach of fiduciary duty class actions targeting large defined contribution plans at a prolific pace. More than 60 such lawsuits were filed this year, and, as expected, plaintiffs...more
The UK Financial Conduct Authority (FCA) has published discussion paper DP25/3 as part of a set of publications forming a "landmark package to boost UK investment culture." The FCA is seeking views on how its regulatory...more
The UK Financial Conduct Authority (FCA) has published policy statement PS25/20 as part of a set of publications forming a "landmark package to boost UK investment culture". The policy statement follows the FCA's...more
The Consumer Composite Investments (Designated Activities) (Amendment) Order 2025 has been published, accompanied by an explanatory memorandum. The Order, which enters into force on 6 April 2026, amends the Consumer Composite...more
The FCA has published a policy statement setting out its final rules for providing information on Consumer Composite Investments (CCIs). The new regime for CCIs is the replacement for the Packaged Retail and Insurance-based...more
SERC’ling Up is your resource for staying ahead in today’s fast-evolving financial landscape. This newsletter delivers perspectives on the latest enforcement trends, regulatory updates and high-stakes developments affecting...more
The UK Financial Conduct Authority (FCA) has published a statement outlining guidance for firms intending to offer crypto exchange-traded notes (cETNs) to retail investors, following the lifting of its ban effective from 8...more
Crypto-assets have quickly shifted from a niche innovation to a core part of global finance. As its addition to, and integration with, traditional investment, banking and payment systems accelerates, regulators and...more
Key developments of interest over the last month include: the Australian Government consulting on draft legislation to regulate digital asset platforms and tokenised custody services; the UK and U.S. governments launching a...more
On October 20, a coalition of 21 state attorneys general submitted a joint comment letter to the SEC in response to the agency’s request for information on cryptoassets regulation....more
As we enter the fourth quarter of 2025—the first year of the second Trump administration—regulation of financial services continues to evolve rapidly, with new guidance being issued as old procedures are scrapped. We are...more
On October 6, the OCC announced five actions intended to reduce the regulatory burden on community banks. The actions included two bulletins revising examination procedures for community banks by (i) replacing fixed...more
On October 6, the Office of the Comptroller of the Currency (OCC) announced a series of significant actions aimed at reducing the regulatory burden on community banks. These initiatives are part of the OCC’s ongoing efforts...more
In another step toward regulatory clarity for crypto investment products, the SEC Division of Corporate Finance staff has issued detailed disclosure guidance on how crypto exchange-traded products (ETPs) should navigate...more
On March 28, 2025, the Federal Deposit Insurance Corporation (FDIC) issued guidance on state nonmember bank and state savings association participation in certain cryptocurrency activities (“FIL-7-2025”). ...more
In the Soundtrack of Our Lives, one of the songs that I still get to hear from time to time on Sirius XM, is “Still the One” which was recorded and released by the band Orleans in 1976. I was in the tenth grade just to be...more
The recent rule and form amendments adopted by the SEC to facilitate the registration of registered index-linked annuities (RILAs) and market-value adjustment annuities (MVAs) on Form N-4 have been broadly welcomed by the...more
This week, the Federal Trade Commission (“FTC”) proposed changes to the Business Opportunity Rule, together with the possible enactment of a new Earnings Claim Rule. Due to the increasing number of individuals seeking...more
On 1 September 2024, the Qatar Financial Centre (QFC), Qatar’s onshore business and financial centre, published its new Digital Asset Regulations 2024 and accompanying laws, rules and guidelines (the DA Regime). The DA...more
Seyfarth Synopsis: On April 23, 2024, the Department of Labor released its latest attempt to amend its 1975 “fiduciary rule” and seven prohibited transaction class exemptions issued between 1975 and 2020 that investment...more
On December 23, 2023, BarnBridge DAO (“BarnBridge”) and its founders, Tayler Ward and Troy Murray, agreed to settle charges with the U.S. Securities and Exchange Commission (“SEC”). BarnBridge violated Sections5(a) and 5(c)...more
On January 23, 2024, the Financial Industry Regulatory Authority, Inc. (“FINRA”) published an update to the targeted exam it launched in November 2022, which was designed to review – for compliance with FINRA Rule 2210 – the...more
On January 16th, the IRS published Announcement 2024-4 (the “Announcement”), postponing certain reporting requirements for large crypto transactions which were set to go into effect for the 2024 tax year. Persons engaged in...more
Alternative data continues to strongly influence the decision-making of investment professionals across all areas of the investment management industry. In a testament to the rising importance of alternative data, the...more
The Hong Kong Monetary Authority (HKMA) recently announced in a circular its expected standards for the sale and distribution of green and sustainable investment products by registered institutions (RIs). This is to ensure...more