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Holland & Knight LLP

CFPB Seeks Comments on Increased Larger Market Participant Thresholds in 4 Key Markets

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The CFPB published four advanced notices for proposed rulemaking in the Federal Register on Aug. 8, 2025. Each notice seeks comment from experts within the automobile financing, international money transfer, consumer...more

Goodwin

European Commission Issues Comprehensive Code of Practice for General-Purpose AI: A New Era of AI Governance

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The European Commission published its final code of practice (the Code) for general-purpose artificial intelligence (GPAI) models on 10 July 2025, delivering on its promise to provide practical guidance for AI governance....more

BCLP

The Football Governance Act - What You Need to Know

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The Football Governance Act was passed into law on 21 July 2025. This follows a long period of debate amongst legislators, regulators, clubs, fans and other market stakeholders about the future of English football, in...more

Mayer Brown

FAQs - Final Rules for the Revised UK Commodity Derivatives Position Limits Framework

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As of 6 July 2026 (some rules took effect from March 2025), all final rules of the new FCA commodity derivatives position limits framework will come into effect. In addition, responsibility from the regime will transfer from...more

Latham & Watkins LLP

SEC Staff Clarifies That Certain Protocol Staking Activities Do Not Implicate the Registration Requirements of the US Federal...

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The Staff clarifies that protocol staking does not qualify as a security under the Howey Test, clearing the way for market participants to engage in staking....more

Latham & Watkins LLP

Recent Developments for UK PLCs June 2025

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On 3 June 2025, the Financial Reporting Council (FRC) published the UK Stewardship Code 2026. The new Code, effective from 1 January 2026, aims to foster long-term sustainable value creation and improve engagement quality...more

Jones Day

CFTC Divisions Interpret "U.S. Person" Definition and U.S. Location Versus Foreign Location

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A 2024 CFTC enforcement action settlement that may have introduced a new test for when the Commodity Exchange Act and the agency's regulations apply on a cross-border basis concerned then-CFTC Commissioner and now Acting CFTC...more

Holland & Knight LLP

New Jersey Federal Court Sides with Kalshi Over Prediction Market Contracts

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Prediction market platform Kalshi has secured a preliminary injunction against the New Jersey Division of Gaming Enforcement (the Division), preventing the state from enforcing a cease-and-desist order that aimed to halt...more

BakerHostetler

CFTC Provides Clarifying Guidance on Material Violations Regarding Self-Reporting, Cooperation, and Remediation System

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As we previously reported, in February, the CFTC’s DOE issued an enforcement advisory (the DOE Advisory) to provide guidance to market participants on how the DOE will evaluate a company’s or an individual’s conduct in the...more

Davis Wright Tremaine LLP

CFTC Eliminates PTMMM Disclosure Requirements for Swap Entities

On April 4, 2025, the CFTC's Division of Market Participants issued No-Action Letter 25-09 regarding the controversial Pre-Trade Mid-Market Mark ("PTMMM") requirements in CFTC Regulation 23.431, effectively eliminating the...more

WilmerHale

The State of Meme Coin Regulation: SEC Staff’s Statement and Other Considerations

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On February 27, the staff of the Division of Corporation Finance (the “Staff”) of the Securities and Exchange Commission  (“SEC” or “Commission”) released a statement concerning meme coins (“Statement”) with the stated...more

Fisher Phillips

México Impone el Reporte de Sostenibilidad para Emisoras de Valores y Otros Participantes del Mercado de Valores: Puntos Clave...

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Una reforma reciente en México introduce cambios regulatorios significativos, que incluyen requisitos de reporte anual para emisoras de valores y otros participantes del mercado de valores, incluidas las emisoras extranjeras....more

Fisher Phillips

Mexico Mandates Sustainability Reporting for Securities Issuers and Other Securities Market Participants: Key Takeaways for...

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A recent reform in Mexico creates significant regulatory changes, including annual reporting requirements for securities issuers and other securities market participants – including foreign issuers. Under the resolution,...more

Skadden, Arps, Slate, Meagher & Flom LLP

FCA’s Approach to Non-Bank Leverage and Implications for Market Participants

On 25 February 2025, Sarah Pritchard, executive director of consumers, competition, and international at the UK Financial Conduct Authority (FCA), delivered a speech at the Investment Association Roundtable where she outlined...more

Goodwin

Luxembourg Strengthens Its Regulatory Framework for Crypto-Assets with the Implementation of MiCAR

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On 10 February 2025, the law of 6 February 2025 regarding, notably, digital finance was published in the Official Journal of Luxembourg (the “Law”)....more

Latham & Watkins LLP

CFTC Issues Staff Advisory on the Use of Artificial Intelligence in CFTC-Regulated Markets

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As AI use proliferates, the advisory reminds CFTC-regulated entities of their existing obligations and the CFTC’s intention to monitor for ongoing risks. On December 5, 2024, the staff of the Commodity Futures Trading...more

Latham & Watkins LLP

ESAs Provide Guidelines to Harmonise the Cryptoasset Classification Under MiCA

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On 10 December 2024, the European Banking Authority (EBA), the European Insurance and Occupational Pensions Authority (EIOPA), and the European Securities and Markets Authority (ESMA) (together, ESAs) have published new joint...more

Jones Day

IOSCO Releases Consultation on Pre-Hedging Practices

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Pre-hedging has been the subject of significant debate within the financial industry in recent years, with concerns often raised over potential conduct and market integrity issues. The regulatory landscape remains fragmented,...more

WilmerHale

US District Court Vacates Controversial Dealer Rules

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On November 21, 2024, the US District Court for the Northern District of Texas vacated rules adopted by the Securities and Exchange Commission (SEC) in February 2024. Those rules had defined language in the definitions of...more

Fenwick & West LLP

Consumer Financial Protection Bureau (CFPB) Final Rule Expands Oversight to Larger Digital Payment App Providers

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Section 1024 of the Dodd-Frank Act of 2010 authorizes the Consumer Financial Protection Bureau (CFPB) to define markets for consumer financial products and services and supervise the larger participants within those markets...more

Cadwalader, Wickersham & Taft LLP

IOSCO’s Proposed Guidance on Pre-Hedging Practices

On November 21, 2024, International Organization of Securities Commissions (“IOSCO”) published a consultation report (the “Report”) to provide guidance on acceptable pre-hedging practices and soliciting feedback from market...more

Holland & Knight LLP

CFPB Finalizes New Federal Supervision of Certain Providers of Digital Wallets, Payment Apps

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The Consumer Financial Protection Bureau (CFPB) on Nov. 21, 2024, issued a final rule to supervise larger nonbank companies that offer "general-use digital consumer payment applications" such as digital wallets, payment apps...more

Latham & Watkins LLP

Global DCA Proposes Information Guidelines for Certain Tokens Made Available in the US

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The resource aims to provide a comprehensive, voluntary framework to enhance transparency in the digital assets market and enable informed decision-making for potential buyers....more

Stinson LLP

Flag After the Play, Ruling on the Field Under Review: $4.8 Billion NFL Sunday Ticket Antitrust Litigation

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In June 2024, a California jury awarded plaintiffs nearly $4.8 billion in an antitrust class action against the National Football League (NFL) and DirecTV. In the case, In re National Football League's "Sunday Ticket"...more

Latham & Watkins LLP

SEC Outlines 2025 Examination Priorities

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On October 21, 2024, the Securities and Exchange Commission’s (SEC) Division of Examinations (the Division) published its annual examination priorities for 2025 (2025 Priorities), which focus on certain “practices, products,...more

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