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
FinCEN issues guidance on cross-border information sharing for financial institutions
On September 5, FinCEN, in consultation with the FDIC, NCUA and the OCC, issued guidance to encourage the voluntarily cross-border sharing of information among financial institutions....By: Orrick, Herrington & Sutcliffe LLP
Continuation Funds: A Structural Phenomenon?
A recurring topic of discussion among secondaries market players is the extent to which the growth in GP-led deal volume in recent years has primarily resulted from transitory factors, such as softness in exit markets. A recent report from Schroders makes a compelling case that the expanding utilization of GP-leds is a structural rather than cyclical phenomenon....By: Ropes & Gray LLP
OCC announces actions to address politicized debanking practices
On September 8, the OCC announced new actions that aim to eliminate “politicized or unlawful debanking” in the federal banking system, consistent with Executive Order 14331: “Guaranteeing Fair Banking For All Americans” (previously covered by InfoBytes here). Comptroller Jonathan Gould stated the OCC was “taking steps to end the weaponization of the financial system” and would act to address bank activities that unlawfully debank or discriminate against customers based on political beliefs,...By: Orrick, Herrington & Sutcliffe LLP
From Fragmentation to Framework: SEC, CFTC, and Nasdaq Seek to Advance Crypto Regulatory Framework
On September 5, 2025, Chairman of the U.S. Securities and Exchange Commission (SEC), Paul Atkins, and Acting Chairman of the U.S. Commodity Futures Trading Commission (CFTC), Caroline D. Pham, issued a joint statement affirming the agencies’ commitment to collaborate on a regulatory regime that fosters innovation in the crypto market and facilitates trading of crypto asset products....By: Cozen O'Connor
Ropes & Gray’s Investment Management Update July – August 2025
The following summarizes recent legal developments of note affecting the investment management industry: On August 25, 2025, the U.S. Court of Appeals for the Fifth Circuit issued its decision regarding a challenge by industry trade groups to (i) Rule 13f-2 under the Securities Exchange Act and related reporting requirements on Form SHO (the “Short Sale Rule”) and (ii) Rule 10c-1(a) under the Exchange Act requiring certain persons to report information about securities loans (the “Securities...By: Ropes & Gray LLP
A Re-Set for Investment Management and Heavy Emphasis on Crypto Assets
The Securities and Exchange Commission (the SEC or the Commission) recently released its Spring 2025 Unified Agenda of Regulatory and Deregulatory Actions (the Agenda). While the Agenda appears undersized at 23 items compared to the 30 items that populated former Chairman Gary Gensler’s Fall 2024 list, it nonetheless signals several potentially consequential rulemakings — and an equally important shift in regulatory philosophy — under newly installed Chairman Paul S. Atkins....By: Katten Muchin Rosenman LLP
Fed Signals Fraud a Top Priority in Special Compliance Outlook Issue
The Federal Reserve (Fed) has devoted its entire Second Issue 2025 of Consumer Compliance Outlook (Outlook) to fraud – a rare, single-topic focus that underscores regulators’ and industry’s heightened concern for addressing financial fraud....By: Cooley LLP
OCC elevates chartering function, signals openness to de novo banks, mergers, and stablecoin issuers
On September 9, the OCC announced it had elevated and renamed its chartering and licensing function, naming Stephen Lybarger as Senior Deputy Comptroller for Chartering, Organization and Structure. Lybarger will oversee licensing for national banks, federal savings associations, payment stablecoin issuers, and structural proposals, coordinating with OCC legal and supervisory staff....By: Orrick, Herrington & Sutcliffe LLP
Staff of CFTC and SEC Issue Joint Statement on Certain Crypto Asset Products
On September 2, 2025, the Securities and Exchange Commission (SEC) Division of Trading and Markets and the Commodity Futures Trading Commission (CFTC) Divisions of Market Oversight and Clearing and Risk (Divisions) issued a joint statement (Joint Statement) announcing a cross-agency initiative to coordinate efforts in enabling “certain spot crypto asset products” to trade on regulated exchanges....By: Morgan Lewis
California appellate court rules font size violation alone sufficient for Rosenthal Act standing
On September 9, a division of the California Courts of Appeal reversed a summary judgment in favor of a debt collector, holding that a violation of the Rosenthal Fair Debt Collection Practices Act (the Rosenthal Act) based on the font size of the company’s debt collection notice is sufficient to confer standing for statutory damages, even absent actual injury....By: Orrick, Herrington & Sutcliffe LLP
Fifth Circuit upholds OCC enforcement action, finding Jarkesy ruling does not bar in-house proceedings
On September 8, the U.S. Court of Appeals for the Fifth Circuit denied a petition for review brought by two former executives of a failed Texas bank, upholding industry bans and $250,000 in civil penalties imposed by the OCC....By: Orrick, Herrington & Sutcliffe LLP
Impact of PILOT Agreement on Tax Appeal Refunds
The gigantic American Dream Mall located in East Rutherford, New Jersey challenged its tax assessments for the years 2019-2025 before the New Jersey Tax Court. ...By: Pullman & Comley - For What It May Be Worth
Trump to appeal judge’s decision blocking him from firing Lisa Cook from Federal Reserve Board
President Trump is appealing a federal judge’s decision that blocked him from firing Lisa Cook from the Federal Reserve Board....By: Ballard Spahr LLP
NYDFS issues request for information on overdraft fees, compliance costs, and consumer communications
On September 5, NYDFS issued a request for information (RFI) seeking further information from state-chartered banks, credit unions, and other stakeholders regarding overdraft and insufficient funds-related policies, procedures, costs and revenues....By: Orrick, Herrington & Sutcliffe LLP
Management Corner: Restrictive Covenant Considerations for Executives in Corporate Transactions
In July 2025, we published an article that discussed considerations relating to rollover and incentive equity in management representations in private equity transactions....By: Morgan Lewis - ML Benefits
Strategy and Deal Making: Understanding the Nuances of the Buy Side Approach
When it comes to today’s deal market, no two buyers approach acquisitions in the same way. For companies exploring a sale, or for boards weighing offers, understanding the distinct perspectives and motivations of private equity (PE) firms vs. strategic buyers is a key component in the decision-making process....By: Offit Kurman
Nasdaq Proposes To Tighten Listing Standards and Add Special Requirements for China-Based Companies
On Sept. 3, Nasdaq submitted proposals to the U.S. Securities and Exchange Commission (SEC) to modify its initial and continued listing standards, with the stated aim of improving market integrity, investor protection, and liquidity. The proposed changes reflect Nasdaq’s ongoing response to address key liquidity and trading concerns of companies in today’s capital markets environment, particularly in the context of securities issued by smaller companies and companies operating in China....By: Lowenstein Sandler LLP
[Video] Compliance Tip of the Day - Using Your ABC Framework to Prevent Fraud Waste and Abuse
Welcome to “Compliance Tip of the Day,” the podcast that brings you daily insights and practical advice on navigating the ever-evolving landscape of compliance and regulatory requirements. Whether you’re a seasoned compliance professional or just starting your journey, our goal is to provide you with bite-sized, actionable tips to help you stay ahead in your compliance efforts. Join us as we explore the latest industry trends, share best practices, and demystify complex compliance issues to keep...By: Thomas Fox - Compliance Evangelist
[Audio] Point-of-Sale Finance Series: Innovations, Regulations, and Future Trends of Modern Credit Cards — The Consumer Finance Podcast
In this crossover episode of The Consumer Finance Podcast and Payments Pros, Jason Cover is joined by Mark Furletti, Taylor Gess, and Jeremy Sairsingh to discuss the intricate world of credit cards. Whether plastic, metal, or digital, credit cards have significantly evolved over time, along with their regulations. This episode examines the historical roots, modern functionalities, and the regulatory landscape that governs credit cards. Discover how innovations like buy now, pay later models are...By: Troutman Pepper Locke
Healthcare & Life Sciences Private Equity Deal Tracker: Bain Capital Acquires UST HealthProof
Bain Capital has acquired UST HealthProof from UST, according to a news release. UST HealthProof is a provider of technology-enabled services and solutions for health plans....By: McGuireWoods LLP
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