Capital Markets

  • June 18, 2026

    JPMorgan Customers Seek Class Cert. In Cash Sweep Case

    Customers of JPMorgan's brokerage arm have asked a New York federal judge to grant class certification in their suit accusing the Wall Street giant of underpaying the interest on cash sweep accounts, noting that a judge previously called the case an "unusually easy" one for class treatment.

  • June 18, 2026

    Bank Regulators Float Joint Stablecoin Customer ID Rule

    Banking regulators Thursday collectively proposed customer identification standards for stablecoin issuers in a joint rulemaking under the federal stablecoin framework, the Genius Act.

  • June 18, 2026

    SEC, CFTC Could Change Dodd-Frank Swap Rules

    The U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission indicated Thursday they are preparing to change the definition of "swap" to "address longstanding ambiguities" that the agencies said have existed since the Dodd-Frank Act was adopted in 2010.

  • June 18, 2026

    'Bitcoin Rodney' Admits To Role In $1.8B HyperFund Scheme

    A Miami resident who goes by "Bitcoin Rodney" pled guilty to his role promoting a cryptocurrency fraud scheme that prosecutors alleged defrauded $1.8 billion from investors of the cryptocurrency project HyperFund, federal prosecutors in Maryland have announced.

  • June 18, 2026

    Skadden, Troutman Lead First Carolina Bank's $69M IPO

    First Carolina Financial Services, a community bank with branches in several southeastern states, began trading its shares on Thursday after pricing a $69 million initial public offering below its target range, guided by Skadden Arps Slate Meagher & Flom LLP and underwriters' counsel Troutman Pepper Locke LLP.

  • June 18, 2026

    Kalshi Urges 6th Circ. To Keep Tenn. Sports Contracts Online

    Kalshi has asked the Sixth Circuit to ensure that its sports contract offerings remain online in Tennessee while a lawsuit over their legality proceeds, once again drawing a bright line between its services and conventional sports betting.

  • June 18, 2026

    Trump Accounts Not Subject To ERISA, DOL Says

    Trump accounts, the new tax-advantaged brokerage accounts for newborns, will generally not be considered employee pension benefit plans and will not be subject to federal benefits laws, according to guidance issued Thursday by the U.S. Department of Labor.

  • June 18, 2026

    Goodwin, Latham Lead Biotech Kardigan's $400M IPO

    Venture-backed Kardigan Inc., a biotechnology firm developing therapies for cardiovascular diseases, hit the public markets on Thursday after raising $400 million in its initial public offering.

  • June 18, 2026

    Liberty Mutual Says It's Owed $1.5M In School Bond Row

    Liberty Mutual Insurance Co. told a North Carolina federal court that a construction company owes about $1.5 million for losses Liberty incurred in connection with the contractor's work on a school construction project for which Liberty executed bonds.

  • June 18, 2026

    DeepSeek's Valuation Soars To $50B, Plus More Rumors

    Artificial intelligence company DeepSeek hit a $50 billion valuation following its latest funding round, the original backers of artificial intelligence company Manus are planning to buy the company back from Meta, and private equity shop KKR wants to buy a majority stake in the Indian business of Sweden's Medicover for at least $1 billion.

  • June 18, 2026

    CME Group Sues CFTC Over Perpetual-Contracts Approval

    CME Group is challenging the U.S. Commodity Futures Trading Commission's decision to approve the listing of perpetual contracts, arguing in a lawsuit that the agency "overrode Congress's definition of the term 'swap'" when it gave Kalshi the green light last month to allow trading on bitcoin spot prices. 

  • June 17, 2026

    FTX Exec's Wife Must Face Campaign Finance Charges

    A New York federal judge Wednesday refused to throw out an indictment accusing crypto lobbyist Michelle Bond of campaign finance crimes, rejecting her argument that prosecutors previously promised her husband, a former FTX executive, that his guilty plea would mean she's in the clear.

  • June 17, 2026

    NY Judge Rejects Permanent Ban In Eletson Award Feud

    A New York judge Wednesday declined to permanently bar former majority owners of Eletson Gas from attempting to exercise control over the company or interfering with new leadership, finding the request goes beyond the initial relief sought.

  • June 17, 2026

    OCC Warns Charter Hopefuls Against Incomplete Applications

    The Office of the Comptroller of the Currency said Wednesday that it will send back incomplete regulatory applications without a review and will start publishing its denial decisions, putting bank charter hopefuls and other corporate filers on notice.

  • June 17, 2026

    Crypto Mining Firm Gets $11M Award Confirmed

    A Texas federal court confirmed a crypto mining company's $11 million arbitration award after the opposing party failed to show up at an arbitration hearing and then failed to respond or appear before the federal court.

  • June 17, 2026

    Bipartisan Sens. Condemn Bankman-Fried's Pardon Bid

    The top members of a cryptocurrency-focused Senate subcommittee on Wednesday introduced a bipartisan resolution condemning Sam Bankman-Fried's bid for a presidential pardon, saying that "under no circumstances" should the convicted FTX founder receive executive clemency.

  • June 17, 2026

    Venezuela Wins Bid To Delay Hearing In Citgo Sale Case

    The Third Circuit has agreed to a two-month postponement of oral arguments in Venezuela's challenge of a Delaware judge's order greenlighting the nearly $6 billion sale of Citgo to satisfy billions of dollars of the country's debt, days after Caracas announced that it was switching counsel.

  • June 17, 2026

    DiDi Investors Get Final OK For $740M Deal, Atty Fees

    A $740 million deal between Chinese ride-hailing app DiDi and its investors has received final approval from a New York federal judge, settling claims the company hid enterprise-threatening regulatory risks during its 2021 initial public offering.

  • June 17, 2026

    Paul Weiss-Led Data Center Operator Csquare Files IPO Plans

    Data center operator CSquare Inc. has filed plans with the U.S. Securities and Exchange Commission for its initial public offering, steered by Paul Weiss Rifkind Wharton & Garrison LLP and Latham & Watkins LLP.

  • June 17, 2026

    Nasdaq Private Market Says Rival Poached Staff And Secrets

    A Nasdaq marketplace for pre-IPO stock has filed suit against a competitor, alleging that it has poached employees and clients, stolen trade secrets and other confidential information, and infringed its patented technology in an effort to acquire what Nasdaq has built without fairly competing.

  • June 17, 2026

    SEC Faces Call To Write Rules For Crypto Wallet Apps

    The Securities Industry and Financial Markets Association is calling on the U.S. Securities and Exchange Commission to write rules outlining when companies providing access to cryptocurrency wallets must register as brokers, saying that a recent staff statement on the issue represents "a significant departure" from past agency practice.

  • June 17, 2026

    Novig Gets CFTC Designation As Sports Prediction Market

    Novig, which began as a sports betting app and evolved into a sports-focused prediction market, now has the official approval of the U.S. Commodity Futures Trading Commission as a designated contract market, the company said Tuesday.

  • June 17, 2026

    3 Firms Guide Quantum Tech Co. EigenQ's $3B SPAC Merger

    Quantum technology company EigenQ Inc., advised by Ellenoff Grossman & Schole LLP, on Wednesday unveiled plans to go public by merging with Greenberg Traurig LLP-led special purpose acquisition company Silicon Valley Acquisition Corp. in a deal that values the business at $3 billion.

  • June 16, 2026

    Mark Cuban Urges 6th Circ. To Rehear Case Against FINRA

    Mark Cuban is throwing his weight behind a Sixth Circuit challenge to the constitutionality of the Financial Industry Regulatory Authority's in-house disciplinary proceedings, arguing in a Tuesday brief that the regulator shouldn't be allowed to penalize the owner of a consulting company without first affording him a trial. 

  • June 16, 2026

    Citi Illegally Fired Risk Exec For Raising Issues, Suit Says

    Citigroup Inc. has been sued by a former senior risk management executive who alleged the bank fired her after she flagged risk deficiencies and identified problems with Citi's anti-money laundering risk management controls, and the bank has pushed back on her bid to proceed anonymously.

Expert Analysis

  • 5 Takeaways From Capital Proposals For Community Banks

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    While much commentary has centered on how federal regulators' proposed capital overhaul would affect the biggest banks, there are several aspects that regional and community institutions should note too, including the potential benefits of the expanded risk-based approach and reduced capital requirements for mortgage origination, say attorneys at Covington.

  • Opinion

    State Bars Need To Get Specific About AI Confidentiality

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    Lawyers need to put actual client information into artificial intelligence tools to get their full value, but they cannot confidently do so until state bars offer clear, formal authority on which plan tiers of the three most popular generative AI tools are safe to use when sharing specific client details, says attorney Nick Berk.

  • Recent Bank Resolution Filings Stress Readiness Over Docs

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    Against the backdrop of banking regulators' recent emphasis on institutional readiness in the event of a bank failure, a review of more than a dozen public resolution plan submissions points to an immediate future in which regulators and banks alike prioritize operational preparedness over extensive documentation, say attorneys at Moore & Van Allen.

  • Series

    Alpine Skiing Makes Me A Better Lawyer

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    Skiing has shaped habits I rely on daily as an attorney — focus, resilience and the ability to remain steady when circumstances shift rapidly — and influences the way I approach legal strategy, client counseling and teamwork, says Isaku Begert at Marshall Gerstein.

  • Understanding The SEC's Consequential Crypto Guidance

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    The U.S. Securities and Exchange Commission's recent interpretive release — its most comprehensive statement ever on the application of the federal securities laws to crypto-assets — reimagines the Howey test to resolve long-standing questions over what is a security, but leaves many issues unresolved, say attorneys at Cahill.

  • Seeking A Policy Fix As Merger Reporting Fight Continues

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    A recently announced request by the Federal Trade Commission and U.S. Department of Justice for public comment on the Hart-Scott-Rodino premerger reporting requirements, as litigation challenging the commission's updated requirements continues, suggests the government's willingness to address how best to support modern merger enforcement without unduly burdening filing parties, say attorneys at Baker Botts.

  • Axed Trade Secret Award Cautions Against Bundling Damages

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    The Fifth Circuit's recent ruling in Trinseo v. Harper, vacating a $75 million jury verdict for trade secret misappropriation due to a bundled damages model, offers a strong reminder to apportion damages so a jury can award a nonspeculative figure when it credits only some alleged secrets, say attorneys at Seyfarth.

  • What A Court Doc Audit Reveals About Erroneous Filings

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    My audit of 1,522 court documents from last month found that over 95% contained at least one verifiable error, with fewer than 1% showing clear indicators of artificial intelligence use — highlighting above all else that lawyers may want to focus most on strengthening their review processes, says Elliott Ash at ETH Zurich.

  • Regulators' Basel Pitch May Bring Banks Capital Relief

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    The prudential banking agencies' new proposals to implement the so-called Basel III endgame rules — which would modify the approach to risk-based capital, among other notable changes — represent a fundamental directional shift in bank capital requirements aimed at increasing lending capacity, says Chen Xu at Debevoise.

  • How SEC And CFTC Are Attempting To End Their 'Turf War'

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    Through coordinated examinations and a shared aim to end duplicative regulation, the U.S. Securities and Exchange Commission and the U.S. Commodity Futures Trading Commission's recent memorandum of understanding could represent a significant shift in the regulatory landscape for market participants subject to the jurisdiction of both agencies, say attorneys at Jenner.

  • Parsing Rule 12(c) Motion Overuse In Securities Class Actions

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    Defendants in securities class actions have more frequently been filing motions for judgment on the pleadings following the denial of motions to dismiss, but courts have recently demonstrated an increasing willingness to reject these previously rare motions, finding them transparent attempts to relitigate already-decided issues, say attorneys at Labaton Keller.

  • Series

    Ultramarathons Make Me A Better Lawyer

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    Completing a 100-mile ultramarathon was tougher, more humbling and more rewarding than I ever imagined, and the experience highlighted how long-distance running has sharpened my ability to adapt to the evolving nature of antitrust law and strengthened my resolve to handle demanding, unforeseen challenges, says Dan Oakes at Axinn.

  • Madison Capital Action Displays SEC's Emphasis On Process

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    The U.S. Securities and Exchange Commission's recent enforcement action against Madison Capital reflects the SEC's view that when market conditions materially change, valuation methodologies must be reassessed in real time, highlighting the importance of internal processes, say attorneys at Lankler Siffert & Wohl.

  • In First For DOJ, Action Signals New CFIUS Enforcement Era

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    The U.S. Department of Justice is seeking judicial enforcement of a divestment order, an unprecedented action for the agency that ushers in a new phase for the Committee on Foreign Investment in the United States, one in which judicial proceedings complement administrative oversight and presidential divestment orders may be enforced through litigation, says attorney Sohan Dasgupta.

  • Getting The Most Out Of Learning And Development Programs

    Excerpt from Practical Guidance
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    Junior associates can better develop the legal, business and interpersonal skills they need for long-term success by approaching their firms’ learning and development programs armed with five tips for getting the most out of these resources, says Lauren Hakala at Reed Smith.

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