The SEC finalized the Private Funds Rule in August 2023, imposing compliance and regulatory requirements on private fund advisers, as summarized in this GT Alert. The Private Funds Rule
Continue Reading SEC Elects Not to Request a Rehearing on Private Funds Rule
The CTA mandates that, starting on Jan. 1, 2024, certain U.S. legal entities and foreign entities registered to do business in the United States (collectively, Reporting Companies) disclose certain BOI
Continue Reading FinCEN Issues FAQs on Dissolved Entities’ Beneficial Ownership Reporting Requirements
On June 17, 2024, the FTC filed a federal court complaint against Adobe and two of its executives. The complaint alleges that Adobe deceived consumers by failing to adequately disclose
Continue Reading FTC Targets Adobe for Hidden Fees and Deceptive Subscription Practices
On May 22, 2024, the Consumer Financial Protection Bureau (CFPB) issued a Final Rule (the Rule) requiring certain nonbank “covered persons” to report certain final public orders issued by a
Continue Reading CFPB Issues Final Rule Requiring Certain Nonbanks to Report Final Public Orders and Submit Annual Compliance Reports
On June 4, 2024, the CFPB released a circular cautioning companies against including unlawful or unenforceable terms and conditions in contracts for consumer financial products or services. The circular asserts
Continue Reading CFPB Warns Against Deceptive Fine-Print Tactics Targeting Consumers
On Feb. 15, 2024, California Sen. Maria Elena Durazo (D-Los Angeles) introduced Senate Bill 1201 (SB 1201 or the Bill), which would impose new disclosure requirements on California companies. Amended
Continue Reading California Senate Passes State’s Version of Corporate Transparency Act
On May 16, 2024, the U.S. Securities and Exchange Commission finalized amendments to Regulation S-P (the Amendments) that largely adopt the proposed amendments the SEC issued in 2023. As discussed
Continue Reading SEC Adopts Cybersecurity Amendments to Regulation S-P
On June 5, 2024, the U.S. Court of Appeals for the Fifth Circuit unanimously vacated a rule the Securities and Exchange Commission (SEC) enacted in August 2023 that was intended to protect investors who invest in certain private funds and prevent fraud by the investment advisers to Private Funds.
Continue Reading U.S. Appeals Court Vacates SEC Private Fund Adviser Rule
On May 30, 2024, the CFPB issued a new request for information (RFI) from the public regarding “why closing costs are increasing, who is benefiting, and how costs for borrowers
Continue Reading CFPB Launches Public Inquiry into Rising Mortgage Closing Costs and ‘Junk Fees’