Practical, Experience-Based Insights on Financial Regulatory Developments
On 20 November 2025, the European Commission officially launched their legislative proposal (“Proposal”) for the updates to the Sustainable Finance Disclosure Regulation (“SFDR”). In a significant departure from the current SFDR disclosure regime, the European Commission proposes a categorisation regime for funds in its place.
The timing remains uncertain but we…
On 6 November 2025, the long-awaited “SFDR 2.0” has finally surfaced in a leak and, as many in the market expected, it represents a major reset of Europe Union’s (“EU”) sustainable finance framework. The proposal, still in draft form from the European Commission, aims to simplify the original Sustainable Finance Disclosure Regulation (“SFDR”). Yet for…
As of 12:01 am on October 1, 2025, congressionally appropriated funding lapsed for most operations of the United States government. Though the government has shut down, business continues, and market participants that need to interact with the Securities and Exchange Commission (the “SEC”) in order to complete a transaction may encounter delays. Below is a…
On September 4, 2025, the Securities and Exchange Commission (the “SEC”) published its Spring 2025 Unified Agenda of Regulatory and Deregulatory Actions (the “Reg Flex Agenda”).[1] Twice per year, Federal agencies, including the SEC, must publish an agenda of proposed rulemakings that they anticipate will have a substantial impact on the economy. The Reg…
A three judge panel of the U.S. Court of Appeals for the Fifth Circuit recently remanded two rules adopted by the SEC in 2023 for further consideration – Rule 13f‑2 (the short sale rule) and Rule 10c1‑a (the securities lending rule), stating that the agency did not properly consider the cumulative economic impact of the…
Historically, investments in private funds have been reserved for large institutions, defined benefit pension plans, sovereign wealth funds and very wealthy individuals. In recent years, though, the notable difference in returns between private investments and those available in the public markets has increased pressure to expand access to private-market investments for “Main Street” investors. Partially…
On August 15, 2025, the Securities and Exchange Commission (“SEC”) issued an order settling proceedings against TZP Management Associates, LLC (“TZP”) for allegedly miscalculating management fee offsets between 2018 and 2023. The SEC’s action, based solely on a non-scienter claim, underscores the SEC’s ongoing focus on management fee calculation practices, despite talk of deregulation and…
As businesses accelerate their use of automated tools to record and transcribe meetings, risks are growing. The use of these “AI tools” to transcribe meetings, such as witness interviews, expert network calls, investment committee meetings or advisory board discussions can transform ephemeral conversations into permanent records that can affect claims of privilege, complicate data governance…
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