News from the economy, politics and the financial markets
In this section of our news section we provide you with editorial content from leading publishers.
Latest news
Treasury targets alleged Minnesota benefits fraud in new set of actions
On January 9, the U.S. Treasury announced a series of measures aimed at addressing alleged widespread government benefits fraud in Minnesota, purporting that billions of taxpayer dollars were lost to what the Treasury deemed “complex fraud rings.”...By: Orrick, Herrington & Sutcliffe LLP
South Dakota AG Proposes Legislation to Authorize Seizure of Digital Currency
On January 6, South Dakota Attorney General (AG) Marty Jackley announced a package of proposed legislation to modernize various aspects of the state’s criminal statutes. Among the proposals is a bill that would expressly authorize law enforcement to seize cryptocurrency as part of a criminal investigation. The measure reflects a growing concern that digital currency occupies a central role in much criminal activity and that legislation may be necessary in some jurisdictions to address those...By: Troutman Pepper Locke
UK Pensions: What’s new this week? January 2026 # 2
Welcome to your weekly update from the A&O Shearman Pensions team, covering all the latest legal and regulatory developments in the world of workplace pensions....By: A&O Shearman
Trump Takes on Swipe Fees: What He Said and Why It Matters
In a Truth Social post, President Trump backed a bill called the Credit Card Competition Act (sometimes called the Durbin-Marshall credit card mandate), saying it will help put an end to what he calls “out-of-control swipe fee rip-offs.” Swipe fees — more formally known as interchange fees — are the charges merchants pay every time a customer pays with a credit card. Although these fees are not directly visible to consumers, merchants often argue that they are reflected in higher prices for...By: Ballard Spahr LLP
Managing “Internal” Investment Funds And Conflicts of Interest: Recent UK FCA Action
The UK Financial Conduct Authority (FCA) has recently censured BlueCrest Capital Management (UK) LLP (BlueCrest) and secured a voluntary USD101m redress scheme for investors in a fund it managed. The action highlights the importance of robust conflicts controls involving sufficiently equipped three lines of defence, particularly where there is the potential for different treatments of funds that are marketed externally and those only available to a firm’s staff....By: A&O Shearman
Treasury and the IRS Release Final and Proposed Regulations on Section 892
On December 15, 2025, the U.S. Department of the Treasury (“Treasury”) and the Internal Revenue Service (the “IRS”) published final regulations (the “Final Regulations”) and proposed regulations (the “Proposed Regulations”) under section 892. The Final Regulations finalize, with modifications, certain temporary and proposed regulations issued in 1998, 2011 and 2022....By: Proskauer - Tax Talks
What Cleveland’s 2025 Building Permits Say About Development Trends Heading Into 2026
Construction permitting in Cleveland returned to trend in 2025, with nearly $1.5 billion in total permits issued. While 2024 was a banner year, with more than $2.8 billion in permits issued, it was buoyed by over $1.2 billion in permits pulled by the Cleveland Clinic’s Innovation Project, the effects of which will be felt throughout the market for year......By: Kohrman Jackson & Krantz LLP
New York Sak Exchange, Hit the Bid, and Supreme Confidence
Saks Global files for bankruptcy after takeover leads to financial collapse | The Guardian - The high-end department store conglomerate filed for Chapter 11 on Tuesday....By: Seward & Kissel LLP
[Video] 31 Days to a More Effective Compliance Program: Day 19 - Evaluating the Risk Management Process
Welcome to 31 Days to a More Effective Compliance Program. Over this 31-day series in January 2026, Tom Fox will post a key component of a best-practice compliance program each day. By the end of January, you will have enough information to create, design, or enhance a compliance program. Each podcast will be short, at 6-8 minutes, with three key takeaways that you can implement at little or no cost to help update your compliance program. I hope you will join each day in January for this...By: Thomas Fox - Compliance Evangelist
[Video] FCPA Compliance Report: Navigating Corporate Ethics and Compliance Trends in 2026 with Mike Volkov, Part 2
Welcome to the award-winning FCPA Compliance Report, the longest-running podcast in compliance. In this inaugural episode of 2026, Tom Fox welcomes back his good friend and colleague, Mike Volkov, to reflect on the tumultuous year of 2025 and discuss the new trends for the upcoming year. This is Part 2 of a two-part series. This episode delves into the significance of the False Claims Act (FCA) as a critical tool for government enforcement, discussing its constitutionality and potential...By: Thomas Fox - Compliance Evangelist
[Video] 31 Days to a More Effective Compliance Program: Day 18 - Risk Assessments
Welcome to 31 Days to a More Effective Compliance Program. Over this 31-day series in January 2026, Tom Fox will post a key component of a best-practice compliance program each day. By the end of January, you will have enough information to create, design, or enhance a compliance program. Each podcast will be short, at 6-8 minutes, with three key takeaways that you can implement at little or no cost to help update your compliance program. I hope you will join each day in January for this...By: Thomas Fox - Compliance Evangelist
[Video] Sunday Book Review: January 18, 2026, The Top Books on Innovation ’26 Edition
In the Sunday Book Review, Tom Fox considers books that would interest compliance professionals, business executives, or anyone curious. It could be books about business, compliance, history, leadership, current events, or anything else that might interest Tom. In this episode, we look at some of the top books on innovation, both those already published and those scheduled for 2026. 1. Twin Transformation: A Gripping Tale of How AI and Sustainability Converge, and the Race to Get It Right by...By: Thomas Fox - Compliance Evangelist
[Video] 31 Days to a More Effective Compliance Program: Day 17 - Podcasting for Compliance
Welcome to 31 Days to a More Effective Compliance Program. Over this 31-day series in January 2026, Tom Fox will post a key component of a best-practice compliance program each day. By the end of January, you will have enough information to create, design, or enhance a compliance program. Each podcast will be short, at 6-8 minutes, with three key takeaways that you can implement at little or no cost to help update your compliance program. I hope you will join each day in January for this...By: Thomas Fox - Compliance Evangelist
Third-country bank and non-bank lending into the EU post-CRD VI
Lending by EU credit institutions is regulated under the EU capital requirements regime. Under Article 4(1)(1) of CRR (Regulation (EU) 575/2013), “credit institutions” include deposit-taking banks as well as large MiFID investment firms which conduct underwriting and dealing on own account in financial instruments. For an EU credit institution to conduct lending activities, it must have the appropriate authorisation under CRD (Directive (EU) 2013/36)....By: A&O Shearman
Central District Of California Grants In Part And Denies In Part Motion To Dismiss Proposed Securities Class Action Against Financial Services Firm
On December 12, 2025, Judge Sherilyn Peace Garnett of the United States District Court for the Central District of California granted in part and denied in part a motion to dismiss a proposed investor class action against a large financial services firm (the “Company”)...By: A&O Shearman
New Lenders in the Syndicated Mix, January 2026 - Representing New Entrants in Syndicated Fund Finance Facilities
As the fund finance industry continues to grow in numbers, it may seem challenging initially for banks and financial institutions outside of this space to jump in with confidence as new lenders. Joining an existing fund finance credit facility as a syndicate lender is an effective way for lenders to make their initial leap into the industry without the responsibility of actively managing facilities in an administrative agent capacity....By: Cadwalader, Wickersham & Taft LLP
REVERSEinquiries Newsletter, Volume 7, Issue 1
A Structured Products Primer on the Uses of Rule 424(b) and Rule 433 - Rules 424(b) and Rule 433 under the Securities Act of 1933 (“Securities Act”) are the two primary filing mechanisms for preliminary offering disclosures in the structured note market. Both rules are essential—but practices, technology, and regulatory interpretations have evolved....By: Mayer Brown
Innovation Within Limits, January 2026 - Federal Reserve Board Proposes “Payment Account” Prototype to Facilitate Payments Innovation While Limiting Reserve Bank Risk
Overview: On December 19, 2025, the Federal Reserve Board issued a Request for Information (“RFI”) on a proposed “Payment Account prototype.” The proposal responds to growing pressure from payments-focused institutions — particularly uninsured and novel charter entities — seeking faster, more predictable access to Federal Reserve payment rails that currently are only available with a Federal Reserve Bank master account....By: Cadwalader, Wickersham & Taft LLP
SEC Proposes Updates to “Small Entity” Definitions for Funds and Advisers
On January 7, 2026, the Securities and Exchange Commission (“SEC”) proposed amendments to the rules that define which registered investment companies, investment advisers, and business development companies qualify as “small entities” for purposes of the Regulatory Flexibility Act (RFA)....By: Mayer Brown Free Writings + Perspectives
Italy’s 2026 Budget Law: practical takeaways for businesses
The 2026 Italian Budget Law was published in the Italian Official Gazette on December 31, 2025. It introduces significant changes to Italy’s tax framework with material implications for investors, financial intermediaries, and multinational groups....By: A&O Shearman
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