In 2021, the SEC adopted the Marketing Rule, and in 2023, issued an FAQ requiring private fund managers to show net-of-fees performance alongside gross performance. Managers found it difficult to calculate net performance for individual investments, as fees are generally
On March 20, 2025, the U.S. Securities and Exchange Commission took a step towards clarifying its position on crypto mining activities. In a recent statement, the SEC’s Division of Corporation Finance provided non-binding guidance on the application of federal securities
The FCA has initiated significant engagement with the private funds sector, akin to its 2013 AIFMD implementation efforts. In 2025, it plans to streamline UK regulatory requirements for fund managers and review conflict of interest management, focusing on governance and
On March 21, 2025, FinCEN issued an interim final rule narrowing the scope of the CTA’s BOI Reporting Rule (Reporting Rule) to foreign reporting companies and foreign beneficial owners.
The Financial Crimes Enforcement Network (FinCEN) issued a Geographic Targeting Order (GTO) requiring all money services businesses (MSBs) located in 30 ZIP codes across California and Texas to, among other things, report and maintain records of cash transactions exceeding $200
On March 12, 2025, the Financial Industry Regulatory Authority (FINRA) issued Regulatory Notice 25-04, seeking public comment on its initiative to modernize regulatory requirements for Members and Associated Persons.
Most meme coins are not securities, and their offer and sale will not need to be registered or require an exemption from registration, SEC staff said in a clarifying statement on Feb. 27, 2025.
On March 3, 2025, the Securities and Exchange Commission’s Division of Corporation Finance issued new guidance expanding the availability of confidential (nonpublic) review of draft registration statements (DRS).
Since taking office, President Trump reduced the Consumer Financial Protection Bureau’s influence by appointing Russell Vought as acting director, who paused rulemaking, enforcement, and other CFPB activities. This shift impacts bank-fintech partnerships, requiring industry adjustments.
On Feb. 25, the CFTC’s Division of Enforcement released an advisory highlighting the benefits of self-reporting, cooperation, and remediation for violations of the Commodities Exchange Act. It refines the Division’s approach, guiding how these factors influence enforcement recommendations.