SEC Release No. IA-6961 (issued April 28, 2026, attached) adjusts the “qualified client” dollar thresholds under Rule 205-3 of the Investment Advisers Act of 1940 for inflation. Effective June 29, 2026, the new thresholds increase to $1,400,000 for assets-under-management and
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FCC Enforcement Monitor — May 2026
By Scott R. Flick and Elizabeth Craig
Pillsbury’s communications lawyers have published the FCC Enforcement Monitor monthly since 1999 to inform our clients of notable FCC enforcement actions against FCC license holders and others. This month’s issue includes:
- FCC Warns
…
MCP Toolkit: Contract Terms in the Context of MCP Deployment

Before reading the first three installments of Pillsbury’s MCP connector series, you may have thought MCP-connected agentic architecture was too complicated to understand. But now that you have wrapped your mind around what MCP connectors are, what legal and…
FCC Foreign Sponsorship Rule in Effect on June 7, But With a Major Change
Time moves slowly in the regulatory universe, at least until you are facing a deadline. It was in 2022 that I first wrote about the then-upcoming September 15, 2022 deadline for broadcasters to disclose whether all…
Data Center Growth Brings Water Use into Sharper Focus in Texas
by Ashleigh Myers, Jillian Marullo and Marcus Manca
As data center development continues to expand—driven by demand for artificial intelligence, cloud computing and other digital infrastructure—the use and availability of water have emerged as a key consideration. As discussed…
Beyond Water’s-Edge: California’s Proposal to Include Captive Insurers Raises Overlooked Constitutional Issues
On February 10, 2026, Assembly Bill 1790 (AB 1790) was introduced in the California Legislature. Although recently placed in the suspense file, AB 1790 could still be put up for a vote this budget cycle or influence later budget proposals.…
Key Consumer Protection Update in Europe: The New “Cancel Contract” Button

Under Directive (EU) 2023/2673, online traders must provide a dedicated, user‑friendly withdrawal function—often described as a “cancel contract” or “withdrawal” button—allowing consumers to exercise their 14‑day right of withdrawal as easily as they entered into the contract. (Please see our earlier…
Introducing the Updated 2026 Pillsbury Guide to Data Centers
Building for the World Cup, Investing for the Future
by Adam J. Weaver, Noa L. Clark, Allan C. Van Vliet and Melissa Hanson
In February 2023, shortly after the conclusion of the 2022 Men’s FIFA World Cup, we looked ahead to 2026 and noted that the largest…
New Cuba Executive Order Creates an IEEPA-Based Sanctions Program and Secondary Sanctions Risk

On May 1, 2026, President Trump issued Executive Order (EO) 14404, “Imposing Sanctions on Those Responsible for Repression in Cuba and for Threats to United States National Security and Foreign Policy,” authorizing sanctions against persons determined to be operating in…
