On June 4, 2026, the Supreme Court issued a unanimous decision in Sripetch v. SEC, holding that the U.S. Securities and Exchange Commission does not need to prove that investors suffered pecuniary loss in order to obtain disgorgement. The decision resolves a circuit split and rejects the Second Circuit’s more restrictive approach articulated in…

Welcome to the FinReg Monthly Update, a regular bulletin highlighting the latest developments in UK, EU and international financial services regulation.

Key Developments in May 2026:

United Kingdom

General Financial Services – Cross Sector

27 May – Financial Promotions: The FCA has published a press release announcing the findings of its review of firms approving…

On May 19, 2026, the Securities and Exchange Commission (SEC) proposed significant amendments to the public company reporting framework that would simplify the current filer status regime and substantially expand the availability of scaled disclosure accommodations. The current framework requires companies to annually reevaluate their filer status (large accelerated filer, accelerated filer, non-accelerated filer) and…

Prediction markets have recently emerged as a major focus of both federal and State regulators. With reported daily trading volumes exceeding $100 million ‑ and substantially more during major events such as the Super Bowl and federal elections ‑ these markets have drawn increasing scrutiny over concerns involving insider trading, market manipulation, and consumer protection.

On May 19, 2026, the Securities and Exchange Commission (SEC) proposed a sweeping set of rule and form amendments intended to modernize and simplify the registered securities offering process for public companies, registered closed-end funds (RCEFs), business development companies (BDCs), and other products. The proposal, if adopted, would be the most significant update to the…

The SEC has rescinded Rule 202.5(e), the no-admit/no-deny policy originally adopted in 1972 that prohibited settling defendants from publicly denying the allegations in an SEC complaint or administrative order. The SEC can still settle cases on a no-admissions basis, and can still seek admissions in particular cases, but settling parties will no longer be…

The SEC is reported to be planning to issue rule proposals creating a regulatory framework for trading of tokenized, digital securities of publicly-traded companies that are issued by third parties unaffiliated with the issuer.  The tokens would be similar to “phantom stock,” representing digital representations of the securities, but would have no equity or voting…

Welcome to the FinReg Monthly Update, a regular bulletin highlighting the latest developments in UK, EU and U.S. financial services regulation.

Key Developments in April 2026:

United Kingdom

General Financial Services – Cross Sector

29 April 2026 – BoE/PRA: The Bank of England and the PRA have published finalised statements of policy outlining their approach…

On 4 May 2026, the European Parliament’s Economic and Monetary Affairs Committee (“ECON”) published its draft report (the “Draft Report”) on the European Commission’s proposed overhaul of the Sustainable Finance Disclosure Regulation (SFDR 2.0). The Draft Report includes a draft European Parliament legislative resolution setting out proposed amendments to the European…

On May 5, 2026, the SEC proposed to permit public companies to file semiannual reports instead of quarterly reports. If adopted, companies subject to Exchange Act Section 13(a) or 15(d) that currently file quarterly reports on Form 10-Q could elect to file one semiannual report on new Form 10-S and one annual report on Form…