Latest news
DOL Retirement Security Fiduciary Rule Vacated
As an update to our prior post, the U.S. Court of Appeals for the Fifth Circuit issued an order (the “Order”) vacating the DOL’s 2024 final rule and related exemptions defining when a person is providing fiduciary investment advice (including for purposes of one-time rollovers) to ERISA plan sponsors, ERISA plan participants, IRAs, and IRA owners or beneficiaries (the “2024 Fiduciary Rule”)....By: Haynes Boone
Treasury and IRS Release March 2026 Proposed Regulations Under Internal Revenue Code Sections 148 and 150
On March 12, 2026, the Department of Treasury and the IRS released proposed regulations to update and clarify several provisions in the arbitrage regulations under Section 148 of the Internal Revenue Code. The proposed regulations also cover a couple of definitional and other provisions under Code Section 150....By: Hinckley Allen
Nebraska Enacts Law Expanding Scope of Installment Loan and Sales Act
On February 25, 2026, Nebraska Governor Jim Pillen signed Legislative Bill 717 (LB 717) into law. LB 717 will expand the scope of the Nebraska Installment Loan and Sales Act (the “ILSA”) —Nebraska’s primary licensing law that governs the origination, making, and servicing of non-mortgage consumer-purpose loans—by raising the threshold loan amount for licensing under the ILSA, imposing new disclosure requirements for ILSA licensees, and expanding the prohibition against making loans under the...By: Mayer Brown
Super returns and not-so-super drafting: FX Group Holdings Pty Ltd v Perpetual Trustee Co Ltd
The NSW Supreme Court recently handed down the latest quantum judgment in the long running dispute between FX Group Holdings Pty Ltd and Perpetual Trustee Company Ltd, concerning the interpretation of a contingent consideration clause governing the sharing of returns in the $150 million vendor-financed sale of the foreign exchange platform Pepperstone....By: Herbert Smith Freehills Kramer
Thinking of listing in London: which market is right for you?
Please see Table below....By: DLA Piper
CFTC issues Advisory and Advance Notice of Proposed Rulemaking for prediction markets
As the tension between US states and the Commodity Futures Trading Commission (CFTC) builds as to whether event contracts in the prediction markets constitute gambling (regulated by state law) or financial derivatives (regulated by federal law), the CFTC issued a Prediction Markets Advisory (Advisory) and an Advance Notice of Proposed Rulemaking and request for comments (Notice) on March 12, 2026. Although “event contracts” are not defined in the Commodity Exchange Act (CEA), the CFTC asserts...By: Eversheds Sutherland (US) LLP
Maintaining perfected security interests under the UCC: Top points for foreign lenders
For lenders participating in United States secured lending transactions, maintaining a perfected security interest under the Uniform Commercial Code (UCC) requires ongoing attention beyond the initial filing of a UCC-1 financing statement. Failure to take timely action may result in the automatic lapse of perfection, potentially leaving a lender with an unsecured claim in the event of a borrower's insolvency....By: DLA Piper
Riding the Regulatory Tailwinds: Why Financial Services Remains Ripe for Private Equity Deals
The Australian regulatory landscape continues to be a minefield for financial services businesses. In 2025 we saw ASIC......By: Herbert Smith Freehills Kramer
Critical Tax Developments for Private Equity: what you need to know
There are significant tax developments underway that have the potential to materially impact transaction financing and investment structures in Australia....By: Herbert Smith Freehills Kramer
UK Weekly Sanctions Update - Week of March 23, 2026
In this weekly update, we summarise the most notable updates in the UK sanctions world. Russia - OFSI issues General Licence for activity in relation to the supply, purchase, transportation or delivery of Kazakh oil: On 18 March 2026, OFSI issued General Licence INT/2026/9247168 which authorises PJSC Transneft and its subsidiary to conduct activities in connection with the supply, purchase, transportation or delivery of Kazakh oil, provided that the Kazakh oil is not owned by a person connected...By: Mayer Brown
UK Public Markets Monitor – Q1 2026
Below is our quarterly briefing covering the most important developments for UK PLCs, UK equity capital markets and UK public M&A in Q1 2026....By: Skadden, Arps, Slate, Meagher & Flom LLP
Consumer Sector M&A: High-Conviction Investing in a Selective Market
Consumer investing continues to attract capital despite sustained macro and operating volatility. Inflation, supply chain disruption, shifting channel economics, and rapid changes in digital marketing continue to push brands and investors to evolve, but they have not dampened sponsor interest....By: Ropes & Gray LLP
Classification of Crypto Assets Under Federal Securities Laws
This past Monday, the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), published a highly anticipated interpretive release that lays the foundational groundwork for the regulation of crypto assets by the two agencies....By: Patomak Global Partners
The global impact of the UK's new tax adviser registration regime
The UK’s tax authority, HM Revenue & Customs (HMRC), has confirmed that the requirement for UK and non-UK firms of tax advisers to register with HMRC will not apply to asset managers and other firms in the financial services sector before 31 March 2027....By: McDermott Will & Schulte
SEC Speaks 2026: What public companies and investment advisers need to know
The US Securities and Exchange Commission (SEC) participated in the annual SEC Speaks conference on March 19 and 20, 2026, bringing together Commissioners and staff to discuss recent developments and share the agency’s priorities going forward....By: McDermott Will & Schulte
Federal court vacates FinCEN real estate reporting rule obligations
On March 19, 2026, Judge Jeremy Kernodle of the US District Court for the Eastern District of Texas issued an opinion in Flowers Title Cos., LLC v. Bessent vacating the Financial Crimes Enforcement Network’s (FinCEN) final rule extending anti-money laundering requirements to persons involved in certain real estate closings and settlements (Real Estate Reporting Rule)....By: McDermott Will & Schulte
SEC and CFTC Issue Landmark Joint Guidance on Classification of Crypto Assets Under Federal Securities Laws
On March 17, 2026, the Securities and Exchange Commission (“SEC” or “Commission”) and the Commodity Futures Trading Commission (“CFTC”) jointly released interpretive guidance (the “Release”) clarifying when transactions in crypto assets are subject to regulation under federal securities laws....By: Ropes & Gray LLP
Project Crypto’s Sleeper Storyline: Addressing Public Company Pain Points (UPDATED)
A lot is going on over at the SEC to set up a new regulatory framework for cryptocurrency – and maybe you think as a public company junkie that it doesn’t effect you. But it does....By: Cooley LLP
Consumer Financial Services Bites of the Month - March 2026 - "March Wind's Gonna Blow My Blues All Away."
In this month's article, we share some of our top "bites" covered during the March 2026 webinar....By: Hudson Cook, LLP
Nevada Court Issues TRO Against Kalshi as Congress Moves to Restrict Event Contracts
On March 20, 2026, Judge Jason D. Woodbury of Nevada's First District Court granted the Nevada Gaming Control Board's application for a temporary restraining order against Kalshi, a CFTC-regulated event contracts exchange....By: Venable LLP
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