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Class Action Targets Stake.us, Drake and Adin Ross for Illegal Gambling Promotion
A new class action complaint has been filed against Stake.us and celebrity endorsers Drake and Adin Ross, alleging that Stake.us operates as an illegal online gambling platform in violation of federal and Virginia law....By: Loeb & Loeb LLP
FInCEN Hits Pause: No AML Rule for Investment Advisers Until 2028
On December 31, 2025, the U.S. Department of the Treasury’s (“Treasury”) Financial Crimes Enforcement Network (FinCEN) issued a final rule formalizing its previously announced intention to reassess the specific requirements for anti-money laundering/counter-financing of terrorism (AML/CFT) program compliance by registered investment advisers (RIAs) (the “IA AML Rule”) and to delay the rule’s compliance deadline....By: Morrison & Foerster LLP
Report fraud: A new front door for UK cyber crime and fraud reporting
City of London Police's new reporting service replaces Action Fraud – but questions remain about impact, technology and how it fits with SFO routes. platform....By: Hogan Lovells
Customs Transitioning to Electronic Refunds
Effective February 6, 2026, Customs and Border Protection (“CBP”) will issue refunds electronically via Automated Clearing House (“ACH”). This rule change will affect all refunds, subject to limited exceptions (e.g., certain emergency payments, transactions involving national security or law enforcement concerns, transactions involving individuals who do not have access to banking services or electronic payment systems, etc.). FR Document 2025-24171....By: Husch Blackwell LLP
The $3 Million Myth: Why Small 401(k) Plans Need Big-Plan Thinking
When we were kids, the world was full of warnings that sounded half ridiculous, half terrifying. “If you pick that wart, it’ll spread all over your hand.” “Don’t pee in the pool, you’ll turn the water blue and everyone will know.” “Crack your knuckles and you’ll get arthritis.” “Eat your vegetables or you’ll never grow.” As adults, we learned something important about these warnings: even when the literal message wasn’t entirely true, the lesson behind it usually was. Picking wounds can cause...By: Ary Rosenbaum - The Rosenbaum Law Firm P.C.
401(k) Plans as LPs: Implications for Stakeholders as Private Markets Access Broadens
The market for investment into private funds has traditionally been limited to institutional investors, high net worth individuals, and similarly sophisticated and risk-tolerant market participants. However, in recent years, a new potential source of capital for fund managers has emerged – 401(k) and other defined-contribution retirement plans. With President Donald Trump’s August 2025 Executive Order on “Democratizing Access to Alternative Assets for 401(k) Investors” (the Executive Order),...By: Robinson Bradshaw
OECD Publishes Policy Brief on Financing Instruments and Policy Levers to Harness Biomanufacturing for Climate, Biodiversity, and Growth
On December 2, 2025, the Organisation for Economic Co-operation and Development (OECD) published a policy brief entitled “Financing instruments and policy levers to harness biomanufacturing for climate, biodiversity and growth.” According to OECD, biomanufacturing can enhance supply chain resilience, advance climate action, augment biodiversity conservation efforts, and contribute to economic growth. Although many Group of 20 (G20) countries support bioeconomy innovation, targeted financial...By: Bergeson & Campbell, P.C.
Into the Next Chapter: Why 401(k) Sponsors Must Rethink Retirement Income
A new study examining how retirees manage annuity payouts from defined-contribution plans should make every 401(k) plan sponsor sit up and pay attention. We spend so much time focused on accumulation, deferral rates, employer contributions, fund lineups, that we sometimes forget the entire point of the plan: income in retirement. And income isn’t just about having assets. It’s about making them last....By: Ary Rosenbaum - The Rosenbaum Law Firm P.C.
CFS Bites of the Month - 2025 Annual Review - Banking
In this article, we share a timeline of monthly "bites" for the past year applicable to banking....By: Hudson Cook, LLP
FY 2026 NDAA Includes New Statutory Framework for Outbound Investment Restrictions
The Fiscal Year 2026 National Defense Authorization Act (NDAA), which was signed into law on December 18, 2025, includes the Comprehensive Outbound Investment National Security Act of 2025 (“COINS Act” or the “Act”), which establishes a statutory framework to prohibit or require notification of certain outbound investments by U.S. persons in technology sectors deemed sensitive to U.S. national security....By: Pillsbury Winthrop Shaw Pittman LLP
CFS Bites of the Month - 2025 Annual Review - Automatic Renewals, Click-to-Cancel, and Subscriptions
In this article, we share a timeline of monthly "bites" for 2025 applicable to automatic renewal, click to cancel, lease to own, and subscription transactions. The CFPB spent 2025 walking back much of the guidance and actions taken involving automatic renewals....By: Hudson Cook, LLP
OFAC Sanctions: Top 5 Trends for 2026
U.S. sanctions policy is facing a complicated year as officials navigate shifting geopolitical pressures, evolving strategies and potential legal constraints. U.S. policymakers must strike the right balance between providing reliable sanctions relief and maintaining leverage over Venezuelan authorities – a difficult task....By: Holland & Knight LLP
FDIC Approves Proposal To Establish GENIUS Act Application Procedures For FDIC-Supervised Institutions Seeking To Issue Payment stablecoins
On December 16, 2025, the Federal Deposit Insurance Corporation (FDIC) approved a notice of Proposed Rulemaking (Proposed Rule) that upon adoption will implement the federal statutory framework for applications for issuance of payment stablecoins and related activities by subsidiaries of FDIC-supervised institutions for which the FDIC is the primary federal payment stablecoin regulator....By: Eversheds Sutherland (US) LLP
Wealth Management Update - January 2026
The January 2026 Section 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 4.60%, which is the same as the December 2025 rate......By: Proskauer Rose LLP
SEC Permits Confidential Treatment Requests for Form ADV Information
On December 29, 2025, the Securities and Exchange Commission (the “SEC”) issued a final rule delegating authority to the Director (the “IM Director”) of the Division of Investment Management (“IM”) to grant, deny, and revoke requests for confidential treatment under Section 210(a) of the Investment Advisers Act of 1940 (the “Advisers Act”), including requests to keep confidential information filed on Form ADV. While the substantive standard for obtaining confidential treatment remains unchanged,...By: Proskauer Rose LLP
Launching your first fund: Seven key considerations for emerging managers
The journey from conceptual idea to launching a fund and taking on capital can be both exhilarating and daunting for new and emerging fund managers....By: Walkers
[Video] 31 Days to a More Effective Compliance Program: Day 8 - Building Effective Compliance Through Payroll
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
[Audio] Redlining Enforcement: Past and Future — The Consumer Finance Podcast
In this episode of The Consumer Finance Podcast, host Chris Willis is joined by Troutman Pepper Locke Partner Lori Sommerfield and Relman Colfax Co-Managing Partner Stephen Hayes for a candid discussion about how redlining has traditionally been defined, how redlining was defined and applied during the Biden administration, and how it may return under a future administration or in cases brought by state regulators or private litigants. This episode further explores the tension between the...By: Troutman Pepper Locke
NCUA Issues Updated AI Resource Hub
On December 22, the National Credit Union Administration (NCUA) updated its Artificial Intelligence (AI) resource page to consolidate key technical and policy references for federally insured credit unions. The page sits within NCUA’s broader cybersecurity and financial technology resources and is explicitly framed as support for evaluating and performing due diligence on third‑party AI vendors....By: Troutman Pepper Locke
Corporate Courtship: Delaware, Texas, and Nevada Enact Reforms to Attract Incorporations
In 2025, Delaware, Texas, and Nevada enacted corporate law changes that reshape fiduciary liability and stockholder litigation risk. Our Financial Services Litigation and Securities Litigation Teams outline how these reforms align and differ and what they mean for incorporation and governance decisions....By: Alston & Bird
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