Expert Analysis

• Tips For Issuers Left In Lurch Without Genius Act Final Rules

  

  The compliance runway envisioned by the Genius Act is steadily shrinking after regulators failed to finalize all the required implementing regulations by July 18, so stablecoin issuers should begin implementing "no-regrets" compliance measures and securing outside vendors before the law takes full effect in January, says David Zaslowsky at Baker McKenzie.

• Series

  Teaching SEC Investigations Makes Me A Better Lawyer

  

  Instructing a law school course on U.S. Securities and Exchange Commission investigations has made me a more thoughtful, deliberate practitioner because it requires me to continually reassess and challenge what I know about securities law enforcement, how I know it and how best to explain it, says David Chase at Miami Law.

• What's Inside Proposed, Expanded NY Stablecoin Regulations

  

  New York's recently proposed regulations for payment stablecoin issuers would, if adopted, increase the regulatory burdens of a state license, and midsize issuers considering a conversion to a federal charter should weigh the associated costs of both options, say attorneys at Lowenstein Sandler.

• High Court, SEC Proposals Set Stage For Further Fund Reform

  

  The U.S. Supreme Court's recent decision in FS Credit Opportunities v. Saba Capital Master Fund and the U.S. Securities and Exchange Commission's proposed rulemaking packages aimed at public market reforms provide a constructive backdrop for considering additional innovations to the listed fund structure, say attorneys at Debevoise.

• AG Watch: Minn. Defends Prediction Markets Ban

  

  Minnesota Attorney General Keith Ellison has aggressively defended the state's landmark statute banning prediction markets, but the court's July 27 temporary injunction in U.S. v. Minnesota blocking the law from taking effect could set the template for state authority across the country, say attorneys at Crowell & Moring.

• Series

  Judges On AI: Examining Administrative, Organizational Uses

  

  U.S. District Judge Alan Albright of the Western District of Texas examines how artificial intelligence could transform a court's ability to deal with administrative work and organize materials when preparing for hearings or drafting opinions, thereby affording judges more time to resolve contested issues.

• From Order To Regulation: How EOs Are Reshaping Banking

  

  The pattern of regulatory activity emerging in the wake of the Trump administration's first 18 months of executive orders makes clear that financial institutions should treat presidential directives as early warning signs and not wait for final rules to assess the accompanying compliance impact, says Jonathan Kolodziej at Bradley.

• Using Disclosure Process Defense In Securities Fraud Cases

  

  Courts' recent endorsement of the involvement-of-counsel defense in securities fraud litigation has clarified that its use depends on how evidence is used, carrying important lessons for presenting evidence of a disclosure process to undermine scienter, say attorneys at Sidley.

• How 9th Circ. 'Shadow Trading' Case May Affect Private Credit

  

  Private credit firms should not wait for a result in the Ninth Circuit appeal in U.S. Securities and Exchange Commission v. Panuwat to address material nonpublic information exposure under existing statutes and take steps to ensure their internal policies and surveillance are ready for increased regulatory scrutiny, says Steve Brown at StarCompliance.

• FDIC Proposals Mark Pullback In Bank Resolution Rules

  

  A recent pair of Federal Deposit Insurance Corp. proposals would fundamentally reshape testing of banks' resolution-related capabilities from a mandatory exercise to a voluntary one supported by significant financial incentives, amounting to an overall reduction in reporting requirements, say attorneys at Moore & Van Allen.

• Series

  Being A Singer Makes Me A Better Lawyer

  

  Before law school, I spent seven years trying to make it as a professional singer in Los Angeles, and nearly everything I learned about preparation, humility, confidence and more has followed me into my legal practice, says Jessica Caterina at Moses & Singer.

• $400M Serta Ruling Offers Warning On Uptier Deal Risks

  

  A Texas bankruptcy court's recent remand ruling, which disallowed Serta Simmons Bedding’s uptier debt exchange and awarded $400 million to the minority lenders, demonstrates why deal counsel negotiating similar agreements should clearly define exceptions and lien subordination, while litigators should lean on express terms, says Jamie Aycock at Yetter Coleman.

• Navigating OFAC's 50% Rule For Cross-Border Exec Mobility

  

  A recent Office of Foreign Assets Control guide signals that its 50% ownership rule can determine not only sanctions compliance but also whether a company can sponsor multinational executives for immigration, highlighting an often overlooked interaction between sanctions and immigration law, says Xuan Zhang at Reid & Wise.

• High Court Rulings Could Alter Agency Strategy For Cos.

  

  The U.S. Supreme Court's recent decisions in Trump v. Slaughter and Trump v. Cook mark major turning points in the law of independent agencies and in how regulated companies should think about federal enforcement, rulemaking and agency-facing strategy, say attorneys at Holtzman Vogel.

• How CME Suit May Reshape CFTC's Crypto Derivatives Rules

  

  CME Group's recent lawsuit over the U.S. Commodity Futures Trading Commission's approval of a Kalshi application to offer a bitcoin perpetual contract as a futures product could have cascading consequences for crypto derivatives regulation, highlighting why policy ambitions do not override statutory text or substitute for reasoned decision-making, says attorney Tamara de Silva.