On December 9, 2025, the Financial Industry Regulatory Authority (FINRA) released both its 2026 FINRA Annual Regulatory Oversight Report (the “Report”), and a companion FINRA Unscripted podcast (the “Podcast”), featuring senior FINRA leaders providing insights about the Report. … Continue Reading Providing Useful Tools: FINRA Releases its 2026 Annual Regulatory Oversight Report, Together with a FINRA Unscripted Podcast Filled with Senior Leadership Insights

In October’s GT Alert on non-bank lending, we focussed on whether there was a justification in banks being subject to regulatory capital requirements when non-bank financial institutions (NBFIs) were not.

Continue Reading Non-Bank Lending in the Spotlight – Does the System of Calculating Regulatory Capital Require Revisiting?

On Nov. 17, 2025, the U.S. Securities and Exchange Commission (SEC) issued a No-Action Letter confirming that it will not recommend enforcement action if a registered representative-owned personal services entity…

Continue Reading Path Cleared for Registered Representative-Owned PSEs To Receive Transaction-Based Compensation

The last remaining provisions of the amendments to the New York Department of Financial Services’ (DFS) cybersecurity regulation called Part 500 came into effect Nov. 1, 2025.…

Continue Reading NYDFS Final Cybersecurity Rules – MFA, Asset Inventory, and Third-Party Risk

On Oct. 29, 2025, the Consumer Financial Protection Bureau (CFPB) withdrew its proposed rule that would have required certain nonbank financial companies subject to its supervisory jurisdiction to submit annual reports about their use of terms and conditions that attempt to waive or limit consumer rights and protections.
Continue Reading CFPB Withdraws ‘Fine Print’ Rule

In the last week of the New York State legislative session, the Senate and Assembly passed S8432/A8662-A. As of Oct. 22, 2025, this legislation has not been sent to the governor for her signature.
Continue Reading Amended New York Transparency Act Broadens Entity Reporting Obligations Beyond Federal Standards

On Sept. 30, 2025, the OFR requested approval from the Florida Financial Services Commission to publish a Notice of Proposed Rule to amend Rules 69U-100.323 and 69U-100.3231 and for final…

Continue Reading Florida Office of Financial Regulation Seeks to Amend and Expand Scope of De-Banking Rules