News & Analysis as of

Investment Reporting Requirements

Ropes & Gray LLP

SFDR Review Potentially Delayed to Q1 2026

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Whilst not unexpected, the long-awaited review of the EU Sustainable Finance Disclosure Regulation (SFDR), originally scheduled for Q4 2025, is now likely to be delayed to Q1 2026. This follows the public and targeted...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Same Old Song, Same Bad Fiduciary Practices

Here we go again. Another jumbo 401(k) plan, another lawsuit, another round of alleged fiduciary misconduct that reads like a broken record for those of us who’ve been watching this space since before fee disclosure was a...more

Jones Day

Reform of the EU Securitisation Framework—Part 2: Proposed Definitions of "Public" and "Private" Securitisations

Jones Day on

On 17 June 2025, the European Commission (the "Commission") published its proposed measures to revive the securitisation framework in the European Union ("EU"), with a view to making it simpler and more fit for purpose. This...more

White & Case LLP

Reforma a las Disposiciones de Carácter General en Materia Financiera de los Sistemas de Ahorro para el Retiro

White & Case LLP on

El 21 de julio de 2025 se publicó el Decreto (el “Decreto”) por el cual se reforman, adicionan y derogan diversas normas de las Disposiciones de Carácter General en Materia Financiera de los Sistemas de Ahorro para el Retiro...more

Hogan Lovells

UK national (in)security? More NSIA notifications, increased ministerial focus on growth and inward investment, and a consultation...

Hogan Lovells on

In what was a busy week for the centre of Government in the UK, the Cabinet Office launched a consultation on proposed changes to the scope of the sectors subject to mandatory notification under the National Security and...more

Paul Hastings LLP

From Burden to Balance: UK Moves to Streamline NSIA Regime

Paul Hastings LLP on

On 22 July 2025, the UK Cabinet Office announced a package of proposed reforms to the National Security and Investment Act (NSIA) 2021 aimed at streamlining the regime and easing the burden facing businesses who trigger NSIA...more

Troutman Pepper Locke

FUNDamentals – FinCEN Delays Investment Adviser AML Rule Until 2028, Signals Revisions to Scope

Troutman Pepper Locke on

On July 21, 2025, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) announced its intention to delay the effective date of the final rule imposing anti-money laundering (AML) obligations on...more

Proskauer Rose LLP

A Securities and Exchange Commission (SEC) Analisará os Critérios de Elegibilidade para Emissores Privados Estrangeiros (Foreign...

Proskauer Rose LLP on

Empresas latino-americanas com valores mobiliários registrados nos Estados Unidos, ou que pretendem registrá-los, devem ficar atentas. A SEC (Comissão de Valores Mobiliários dos EUA) publicou um “concept release” propondo...more

Husch Blackwell LLP

OBBBA Extends, Modifies Opportunity Zone Program

Husch Blackwell LLP on

One of the highly anticipated provisions of the One Big Beautiful Bill Act (OBBBA) is the extension and expansion of the Opportunity Zone (OZ) program, which was originally enacted under the Tax Cuts and Jobs Act of 2017...more

Fenwick & West LLP

SEC Division of Corporation Finance Issues Statement on Crypto Asset Exchange-Traded Products

Fenwick & West LLP on

On July 1, the SEC’s Division of Corporation Finance (Corp Fin) issued a statement regarding Crypto Asset Exchange-Traded Products (crypto asset ETPs). Crypto asset ETPs are investment products that are listed and traded...more

Williams Mullen

Big, Beautiful Changes to the Qualified Opportunity Zone Program

Williams Mullen on

As anticipated, President Trump’s One Big Beautiful Bill Act (the “OBBBA”), which was signed into law on July 4, 2025, significantly amends Sections 1400Z-1 and 1400Z-2 of the Internal Revenue Code of 1986, as amended (the...more

Akin Gump Strauss Hauer & Feld LLP

2025 Compliance Reminder: BE-180 Survey of Cross-Border Financial Services Transactions

U.S. persons who provided or received more than $3 million of financial services, such as investment advisory services, fund management or brokerage services, to or from non-U.S. persons, such as Cayman master funds, during...more

Frost Brown Todd

There is No Sunset in the Land of OZ – Opportunity Zones Renewed by The One Big Beautiful Bill Act

Frost Brown Todd on

On July 4, 2025, President Trump signed H.R. 1—referred to as the “One Big Beautiful Bill Act” (OBBBA)—which permanently renewed and modified the federal Opportunity Zone tax incentive program that was set to expire at the...more

Foley & Lardner LLP

The One Big Beautiful Bill Act (OBBBA) Expands and Modifies Opportunity Zones

Foley & Lardner LLP on

The opportunity zones tax incentive was enacted in 2017 as a part of the Tax Cuts and Jobs Act (the TCJA) to increase long-term investment in “qualified opportunity zones” (OZs), which are population census tracts in...more

Seyfarth Shaw LLP

7 Key Changes to the Qualified Opportunity Zone Incentive Under the One Big Beautiful Bill Act

Seyfarth Shaw LLP on

On July 4, President Trump signed into law H.R. 1, the One Big Beautiful Bill Act (OBBBA), a sweeping 870-page piece of legislation that introduces significant changes across various areas of federal policy. While full...more

Latham & Watkins LLP

UK Government Consults on Sustainability Reporting Standards and Climate Transition Planning

Latham & Watkins LLP on

On 25 June 2025, the UK government launched three consultations as part of London Climate Action Week, which are intended to form key parts of the government’s programme to make the UK the “sustainable finance capital of the...more

Seward & Kissel LLP

July 31 Deadline for BE-180 Reports

Seward & Kissel LLP on

The BE-180 is the quinquennial Benchmark Survey of Financial Services Transactions between U.S. Financial Services Providers and Foreign Persons (the “BE-180 Survey”) conducted by the U.S. Bureau of Economic Analysis (the...more

ArentFox Schiff

SEC’s New Concept Release on Foreign Private Issuer Standards

ArentFox Schiff on

On June 4, the US Securities and Exchange Commission (SEC) published a concept release soliciting public comment on potential amendments to the definition of foreign private issuer (FPI) under US securities laws....more

Troutman Pepper Locke

4 Actions for Cos. as SEC Rebrands Cyber Enforcement Units

Troutman Pepper Locke on

On Feb. 20, the U.S. Securities and Exchange Commission announced the creation of the Cyber and Emerging Technologies Unit, which will replace the Enforcement Division’s previous Crypto Assets and Cyber Unit. Originally...more

Latham & Watkins LLP

In Practice: EU Proposed Securitisation Disclosure Reforms: Is the Remedy Worse Than the Affliction?

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In this In Practice article, the authors look at what sell-side entities would need to consider if the reforms to the EU’s securitisation reporting regime, such as a new template for private securitisations, were to go ahead...more

Offit Kurman

SBA Franchise Directory Reinstated: Key 2025 Updates for Franchisors and Franchisees

Offit Kurman on

The U.S. Small Business Administration reinstated the Small Business Administration (SBA) Franchise Directory on June 1, 2025, reversing the 2023 decision to sunset the program. The Directory has long been the primary...more

Troutman Pepper Locke

SEC Considers Changes to Definition of Foreign Private Issuer

Troutman Pepper Locke on

On June 4, 2025, the U.S. Securities and Exchange Commission (SEC) published a concept release soliciting public comment on the definition of a foreign private issuer (FPI) and whether changes are needed to reflect the...more

White & Case LLP

Newly Adopted Greek FDI Regime

White & Case LLP on

On 22 May 2025, the Hellenic Parliament enacted Law 5202/2025, introducing a Foreign Direct Investment (“FDI”) regime in Greece (the “Regime”), effective as of that date. The Regime took effect immediately upon publication in...more

Jones Day

Uneven Stop-the-Clock Provisions Throughout Europe on Sustainability Reporting

Jones Day on

As discussed in a previous article, the European Union is seeking to "bring competitiveness and climate goals together," and therefore launched a reform package—the Omnibus package—regarding sustainability reporting and...more

Carlton Fields

SEC Solicits Public Comment on Definition of “Foreign Private Issuer”

Carlton Fields on

The Securities and Exchange Commission (SEC) published a concept release on June 4, 2025, seeking feedback on whether the SEC should amend the definition of “foreign private issuer” (FPI). In the release, the SEC asks whether...more

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