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U.S. Issues First Designations Under Cuba EO 14404
On May 7, 2026, the U.S. Departments of State and Treasury took the first concrete enforcement steps under Executive Order 14404, the new Cuba sanctions authority discussed in our prior post. Acting pursuant to EO 14404, the U.S. government designated Grupo de Administración Empresarial S.A. (GAESA), Cuba’s military‑run conglomerate, along with its executive president, Ania Guillermina Lastres Morera, and Moa Nickel S.A., a joint venture operating in Cuba’s metals and mining sector....By: Akerman LLP
CFPB 1071 Final Rule Issued on Small Business Lending Reporting Requirements
On Friday, May 1, the Consumer Financial Protection Bureau (CFPB) issued a long-awaited final rule implementing Section 1071 of the Consumer Financial Protection Act (CFPA), which addresses required reporting on certain small business loans....By: Cadwalader, Wickersham & Taft LLP
New Cuba Executive Order Adds Targeted Sanctions Authority While Preserving CACR Licenses
On May 1, 2026, the President issued a new Executive Order (EO 14404 ) adding targeted sanctions authorities related to Cuba. EO 14404 is issued under several authorities, including the International Emergency Economic Powers Act (IEEPA), the National Emergencies Act (NEA), section 212(f) of the Immigration and Nationality Act, and 3 U.S.C. § 301. It builds on the national emergency declared in EO 14380 of January 29, 2026, concerning threats posed by the Government of Cuba to U.S. national...By: Akerman LLP
Vice Chair of Supervision Bowman Signals a Broader Supervisory Push on Consumer Fraud
On Tuesday, May 5, Federal Reserve Vice Chair for Supervision Michelle W. Bowman addressed the Women in Housing and Finance Symposium. In her speech, the Vice Chair framed consumer fraud as more than just a consumer protection issue, describing it instead as an emerging supervisory, payments system, and financial stability concern....By: Cadwalader, Wickersham & Taft LLP
Non-Resident Importers May Need to Take Immediate Action to Avoid Delays in Receiving Tariff Refund Payments
An emerging issue affecting tariff refund claims under the IEEPA Phase 1 Declaration process submitted through the CAPE system may require immediate action by non-resident importers to avoid delayed or rejected refund payments....By: Bodman
SEC Publishes Proposing Release on Semiannual Reporting: Proposal Specifics and Practical Implications
On May 5, 2026, the U.S Securities and Exchange Commission (the “SEC”) published a long-awaited release (the “Proposing Release”) proposing changes to certain rules which, if adopted, will allow (but not require) registrants to file semiannual reports on new Form 10-S in lieu of quarterly reports on Form 10-Q to meet their interim reporting obligations under the Securities Exchange Act of 1934, as amended (the “Exchange Act”).1 The Proposing Release also includes proposed amendments to the...By: Mayer Brown Free Writings + Perspectives
Consolidation, AI, and the Future of Mortgage Servicing
In this episode of Financial Services Focus, Mayer Brown partner Lauren Pryor is joined by John Guzzo, Managing Director at Houlihan Lokey; Dan Thompson, CEO of Preferred Mortgage Services; Romalene Tolentino, Founding Partner of Preferred Mortgage Services; and Rajesh Bhat, Board Member of Preferred Mortgage Services and former founder and CEO of Roostify, for a wide-ranging conversation on the forces reshaping the mortgage servicing market. The panel examines how post-crisis regulatory shifts...By: Mayer Brown
SEC Proposes Optional Semiannual Reporting for Public Companies
On May 5, 2026, the U.S. Securities and Exchange Commission (SEC) proposed amendments that would, if adopted, permit public companies currently filing on Form 10-Q to elect instead to file semiannual reports on a new Form 10-S. The election would be optional, made annually on the cover page of Form 10-K, and reversible....By: Carlton Fields
SEC expands co-investment relief to open-end funds
On April 27, 2026, the staff of the Securities and Exchange Commission’s Division of Investment Management (Staff) issued a no‑action letter to J.P. Morgan Investment Management Inc. (JPMIM) permitting open-end funds to rely on existing co-investment orders and allowing requirements that must be approved by a “Required Majority” of the board under the exemptive order to be satisfied by a committee of the board....By: Eversheds Sutherland (US) LLP
UK Public M&A Monthly Activity Update: April 2026
In April 2026, there were four Rule 2.7 announcements made across the UK public M&A market and six further possible offers / sale processes announced....By: Herbert Smith Freehills Kramer
FDIC rescinds guidance governing re-presentment of same transaction
The FDIC has issued FIL-14-2026 rescinding its guidance governing the re-presentment of the same transaction after raising questions about the Biden Administration’s prior guidance....By: Ballard Spahr LLP
FCA Consults on Cryptoasset Perimeter Guidance for the UK’s Forthcoming Crypto Regime
On 28 April 2026, the UK Financial Conduct Authority (FCA) published Consultation Paper CP26/13 (the CP), setting out proposed perimeter guidance for the new UK-regulated cryptoasset activities under the UK’s forthcoming cryptoasset regulatory regime....By: Skadden, Arps, Slate, Meagher & Flom LLP
New Executive Order Regarding IRA Enhancements
On April 30, 2026, President Trump signed an Executive Order (the “Order”) designed to expand access to retirement savings for the tens of millions of American workers who currently lack employer-sponsored retirement plans, including many small-business employees, part-time workers, independent contractors, and self-employed individuals facing barriers to saving for retirement....By: Patterson Belknap Webb & Tyler LLP
A life cycle approach to private equity financing: What sponsors and lenders need to know
Private equity sponsors and lenders are navigating an environment in which disciplined deal structuring and downside preparedness are increasingly interconnected....By: McDermott Will & Schulte
Financing innovation: A more strategic capital playbook for life sciences
At our European Health and Life Sciences Symposium, discussions about financing highlighted a clear shift: As the pace of innovation increases, and in the face of market constraints, life sciences capital is becoming more flexible, specialised, and strategic....By: McDermott Will & Schulte
SEC Proposes Optional Semiannual Reporting for Public Companies
On May 5, 2026, the Securities and Exchange Commission (SEC) proposed rule and form amendments that would give public companies the option of filing semiannual reports in lieu of quarterly reports....By: Skadden, Arps, Slate, Meagher & Flom LLP
GENIUS Act Proposal: Examining the Impact of Proposed Regulatory Framework on Institutional, Non-Institutional and Foreign Entities
The Guiding and Establishing National Innovation for U.S. Stablecoins Act (the “GENIUS Act”), enacted in July 2025, establishes comprehensive federal guidelines governing the issuance of payment stablecoins in the United States....By: Baker Botts L.L.P.
SEC’s Recent Public Company Settlement Provides Guidance for Corporate Resolutions Under the Current Administration
On April 20, 2026, the Securities and Exchange Commission (SEC) filed a settled enforcement action against Key Tronic Corporation (Key Tronic) and two of its executives, Key Tronic’s CFO during the misconduct period and current CEO, and Key Tronic’s senior vice president of U.S. operations....By: Skadden, Arps, Slate, Meagher & Flom LLP
From CARES Act Relief to CARES Act Enforcement: PPP and ERC Risks Are Rising
When Congress passed the CARES Act in March 2020, it did more than inject liquidity into the economy through programs like the Paycheck Protection Program (PPP)....By: Offit Kurman
Nasdaq Raises Bar for SPAC IPOs: What Deal Teams Need to Know
Even as the SEC works to ease disclosure requirements for public companies in an effort to “Make IPOs Great Again” – for example, through yesterday’s proposal to permit semi-annual (rather than quarterly) reporting,...By: Cooley LLP
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