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Institutional Investor Newsletter - Q4 2025
1. A banner year: Secondary market transactions reach record levels - Transaction volume in the secondary market is on track for another record year, reaching USD102 billion in just the first six months of 2025 and USD165 billion in transaction value through Q3 2025. This surpasses the prior record of USD160 billion set in 2024....By: DLA Piper
CFPB Releases Annual Report on Fair Debt Collection Practices Act (FDCPA)
As required by amendments to the FDCPA made by Section 1089 of Dodd Frank, the CFPB recently released its annual report to Congress on FDCPA compliance. We note below information provided by the bureau about the complaints it received in 2024, the results of examinations publicly reported in 2024, and enforcement actions by other agencies....By: Ballard Spahr LLP
[Audio] 12 Days of Regulatory Insights: Day 10 – State AGs on Pricing and Renewals — Regulatory Oversight Podcast
In this episode of our special 12 Days of Regulatory Insights podcast series, RISE attorney Nam Kang welcomes Partners Clay Friedman and Mike Yaghi for a practical look at 2025 regulatory enforcement trends in advertising and marketing. The insightful discussion in this series begins with the growing push for transparent, all-in pricing aimed at eliminating junk fees and drip pricing. Clay and Mike explain how new and existing state laws intersect with longstanding UDAP principles, and how this...By: Troutman Pepper Locke
[Video] AI Today in 5: December 17, 2025, The Bombshell Rent Edition
Welcome to AI Today in 5, the newest edition to the Compliance Podcast Network. Each day, Tom Fox will bring you 5 stories about AI to start your day. Sit back, enjoy a cup of morning coffee, and listen in to the AI Today In 5. All, from the Compliance Podcast Network. Each day, we consider four stories from the business world, compliance, ethics, risk management, leadership, or general interest related to AI. Top AI stories include: • Oracle is committed to $248bn in data center rent...By: Thomas Fox - Compliance Evangelist
Pay Attention to Your Orphans
What should a broker-dealer do when a customer's contact information no longer works? The law imposes responsibilities on broker-dealers in such situations. We expect the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), and State securities regulators to have heightened interest and increased scrutiny over "orphaned" accounts, which are those where the designated representative relationship has ended or the client has become unresponsive. Recent SEC...By: Katten Muchin Rosenman LLP
[Video] Daily Compliance News: December 17, 2025, The Is Your TV Watching (and Recording) You Edition
Welcome to the Daily Compliance News. Each day, Tom Fox, the Voice of Compliance, brings you compliance-related stories to start your day. Sit back, enjoy a cup of morning coffee, and listen in to the Daily Compliance News. All, from the Compliance Podcast Network. Each day, we consider four stories from the business world, including compliance, ethics, risk management, leadership, or general interest, relevant to the compliance professional. Top stories include: • The FTC accuses Pepsi of...By: Thomas Fox - Compliance Evangelist
OSC’s Proposed Priorities for 2026-2027
The Ontario Securities Commission (“OSC”) released its proposed Statement of Priorities for 2026-2027, outlining the initiatives on which the OSC intends to focus its resources and activities over the next fiscal year. Comments are due by January 12, 2026....By: Stikeman Elliott LLP
CFTC Harmonizes US Person and Guarantee Definitions in Swap Requirements
On December 9, 2025, the staff of the Commodity Futures Trading Commission (“CFTC”) issued no-action relief to harmonize how the regulatory requirements for swaps are applied to trades involving certain non-US persons (“NAL 25-42”). This relief has been long sought by the market, and should reduce some of the compliance burden associated with establishing and maintaining swap trading relationships....By: Mayer Brown
Brasília em Pauta - Edição Nº 225
Prezados e prezadas, O “Brasília em Pauta” é um boletim semanal preparado pela equipe de Contencioso de Brasília, contendo os principais casos a serem julgados pelo Supremo Tribunal Federal (STF), Superior Tribunal de Justiça (STJ) e Tribunal de Contas da União (TCU), bem como importantes questões a serem votadas pela Câmara dos Deputados e Senado Federal....By: Mayer Brown
Fintech Bank Charters Back in the Spotlight
The debate over the Office of the Comptroller of the Currency (OCC) granting specialty limited bank charters for financial technology companies is back, now with the addition of cryptocurrency and a new regulatory approach....By: Loeb & Loeb LLP
Plenty at Stake in a Budget of Two Halves
As part of the UK Budget measures on 26 November 2025, two announcements were made by the UK Government concerning, respectively, the tax reporting of cryptoassets and the taxation of decentralised finance (“DeFi”) involving the lending and staking of cryptoassets....By: Cadwalader, Wickersham & Taft LLP
Top International Tax Law Insights of 2025: The Most-Read HMLLP Articles of the Year
From evolving cross-border tax rules to new opportunities in global business planning, 2025 brought significant developments affecting individuals, entrepreneurs, and companies operating internationally....By: Hone Maxwell
SFDR 2.0: EU Commission Proposes Overhaul of SFDR Regime
The European Commission has released a legislative proposal for the overhaul of the current Sustainable Finance Disclosure Regulation regime (SFDR 1.0), the EU’s disclosure framework for funds and other financial products integrating environmental and/or social aims....By: Morgan Lewis
UK FCA Discusses Possible Changes to Its Rules Regarding Consumer Access to Investments
The FCA has published a discussion paper in which it considers possible changes to its rules regarding consumer access to investments and invites feedback from consumers and the industry to help it formulate future policy. In doing so, the FCA has given a helpful indication of which specific issues and investment types it is concerned about and the possible future direction of regulatory travel....By: Hogan Lovells
Treasury Places Kiddie IRA Accounts Under the Christmas Tree
The 2025 legislation, commonly referred to as the One Big Beautiful Bill Act (the “OBBBA”), established a new form of individual retirement accounts (“IRAs”) for individuals under 18 (“Child IRAs”). On December 2, 2025, the IRS published Notice 2025-68 (the “Notice”), describing the mechanics of these Child IRAs and announcing its intent to publish proposed regulations....By: Cadwalader, Wickersham & Taft LLP
Targeted Support Update – FCA Publishes Near-Final Rules on New Form of Advice
On 11 December 2025, the UK's Financial Conduct Authority (FCA) published PS25/22, which contains its near final rules on the new concept of “targeted support” which firms can use to help consumers make their investment decisions. Targeted support will be available for investment products and pensions only....By: Hogan Lovells
The Payments Newsletter Including Digital Assets & Blockchain, December 2025
Key developments of interest over the last month include: China and Vietnam launching a cross-border QR code payment system to strengthen regional payment connectivity; Banks and EMIs facing detailed new information and account direct deduction obligations as the Public Authorities (Fraud, Error and Recovery) Act 2025 receives Royal Assent; the Council of the EU and the European Parliament reaching provisional political agreement on the texts of the proposed PSD3 and Payment Services Regulation;...By: Hogan Lovells
DCP+ Podcast Episode 4: Georgina Merhom on How Quality Data Can Transform Financial Services, Part 1
In this episode, hosts Kaylee Cox Bankston and Boris Segalis discuss their latest favorite uses of AI and the new CCPA developments before sitting down with Georgina Merhom, data scientist and founder of Solo, for the first installment of a two-part conversation exploring the foundations of trustworthy data and AI in financial services....By: Morrison & Foerster LLP
[Podcast] Private Market Talks: Building Lasting Value with KPS Capital Partners’ Michael Psaros
How do you build a top-performing private equity firm that thrives across industrial, financial and economic cycles? In this episode of Private Market Talks, Michael Psaros, Co-Founder and Co-Managing Partner of KPS Capital Partners, joins partner Howard Beber to discuss KPS’ investment model focused on price discipline, operational transformation and partnership with management teams. Michael explains how KPS identifies value where others don’t and how his team consistently delivers returns...By: Proskauer - Private Market Talks Podcast
California climate disclosure laws: CARB issues draft regulations
On December 9th, the California Air Resources Board ("CARB") issued draft regulations implementing SB 253 (the Climate Corporate Data Accountability Act) and SB 261 (the Climate-related Financial Risk Act) (the "Regulations"). CARB also issued a staff report outlining CARB's rationale for the Regulations and a notice of public hearing to consider approval of the Regulations....By: White & Case LLP
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