On July 10, 2026, New York City Department of Consumer and Worker Protection (DCWP) finalized and adopted its “Click-to-Cancel Rule,” which takes effect on Oct. 1, 2026.
From Click to Contract: When Courts Enforce Online Terms
Recent court decisions highlight how website design, conspicuous notice, and user assent can determine whether online terms are enforceable.
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UK Financial Conduct Authority Consults on Tougher Penalty Framework
The FCA is consulting on proposed changes to its penalty framework that signal a tougher approach to individual accountability and deterrence, with practical implications for firms and individuals subject to FCA supervision. Comments are due by 10 August 2026.
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Supreme Court Limits Private Rescission Claims Under the Investment Company Act
The U.S. Supreme Court held that ICA Section 47(b) creates no implied private right of action for rescission, shifting potential litigation risks for fund governance challenges to SEC enforcement, Section 36(b) claims, and state-law theories.
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Brian Johnson Nominated as New CFPB Director
President Trump has nominated Brian Johnson, a Capital One executive and former CFPB official, to serve as the Bureau’s next director. His nomination signals continued regulatory restraint at the federal level, while state actors move to fill the enforcement gap.
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SEC Division of Examinations Publishes Risk Alert on Economic Conflicts of Interest
The SEC’s Division of Examinations has issued a Risk Alert identifying recurring deficiencies in how investment advisers disclose and manage economic conflicts of interest, with observations spanning cash management recommendations, fee practices, Form ADV disclosures, and compliance program design.
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California DFPI Announces $1M Settlement with Yotta for ‘FDIC Insurance’ Misrepresentations
California’s DFPI reached a $1 million settlement with Yotta Technologies over alleged false FDIC insurance representations connected to the Synapse bankruptcy, signaling heightened state scrutiny of fintech-bank partnerships and banking-as-a-service models.
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CFTC Division of Enforcement Issues New Cooperation Policy
On May 19, 2026, the CFTC’s Division of Enforcement replaced its 2025 tiered scoring matrix with a declination-first framework that imposes heightened self-reporting, cooperation, remediation, and restitution requirements on registrants seeking enforcement credit.
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FinCEN Issues Updated FAQs Following Vacatur of Residential Real Estate Reporting Rule
A federal court vacated FinCEN’s Anti-Money Laundering Regulations for Residential Real Estate Transfers, finding FinCEN exceeded its statutory authority under the Bank Secrecy Act.
CFPB Final Rule Narrows Small Business Lending Data Collection Requirements
On May 1, 2026, the CFPB finalized a revised Section 1071 rule under ECOA, narrowing covered institutions, products, and required data points from the 2023 Rule, with a single compliance date of Jan. 1, 2028. Financial institutions may wish to begin assessing coverage status and compliance readiness.
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