By Thoreau A. Bartmann, Lance C. Dial, and Sarah V. Riddell The SEC and its staff continue their efforts to clarify the somewhat murky regulatory environment for crypto assets. On Friday, 25 September 2026, the staff of the
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United States: Mark My Words: SEC Staff Guidance on Private Credit Valuation
By Thoreau A. Bartmann, Sasha Burstein, Lance C. Dial, Pablo J. Man, and George Zornada On 28 September 2026, the Chief Accountant and the Director of the Division of Investment Management issued a joint statement on
EU KIDS Act
By: Sarah Pearce and Veronica Muratori On 17 September 2026, the European Commission presented the EU KIDS Act, aimed at strengthening the protection of minors online and reducing fragmentation across Member States. The draft introduces a graduated approach for accessing
NCS Multistage Inc. v. Nine Energy Service, Inc.: Private Sales Are Not Necessarily Public Disclosures Under the AIA
In NCS Multistage Inc. v. Nine Energy Service, Inc., the Federal Circuit held that a patentee’s prior commercial sale of a device embodying the invention does not qualify as a “public disclosure” under the AIA safe harbor of 35
FDIC Proposes Rule To Recognize Parity Between Out-of-State Banks and National Banks
By: John ReVeal and Rebecca H. Laird
On 17 September 2026, the FDIC proposed to amend regulations to recognize parity between out-of-state state banks and national banks concerning the application of host state laws when an out-of-state state bank provides
United States: SEC and CFTC Open Door to Tokenized Markets After Clarity Fails to Advance
By Tamika Bent, Timothy Foley, Sarah Riddell, and Sanjeev Bhasker The SEC and CFTC have separately granted relief for the advancement of crypto-based trading infrastructure in US markets, in an apparent direct response to Congress’s stalled efforts
Supporting ‘Human Artistry’: Wholly AI-Generated Recordings Disqualified From ARIA Charts in Australia
In a move to ‘promote the human nature of artistry’,[1] the Australian Recording Industry Association (ARIA) amended its guidelines to exclude songs mostly or entirely created by generative artificial intelligence (Gen AI) from Australia’s main music charts.
This announcement comes
United States: SEC Proposes Modernization Overhaul of Transfer Agent Rules
By Jon Luc Dupuy and Timothy Foley The SEC is proposing to substantively overhaul the securities transfer agent regulatory framework, which has largely remained unchanged since the paperwork-based system of the mid-1970s. Since this time, modern-day transfer agent operations have
EPA's Supplemental WOTUS Proposal: What Permit Applicants Should Know
On 9 September 2026, the Environmental Protection Agency (EPA) and the US Army Corps of Engineers published a supplemental proposal to revise the definition of “waters of the United States” (WOTUS) under the Clean Water Act.1 The supplemental proposal builds on
Federal Court Invalidates New York Climate Change Superfund Act
On 31 August 2026, the US District Court for the Northern District of New York (the Court) invalidated New York’s Climate Change Superfund Act (the Act), blocking the State’s planned US$75 billion cost-recovery program. The Act was among the nation’s