On August 12, 2026, the SEC’s Division of Investment Management issued a No-Action Letter (the Letter) granting no-action relief to Franklin Templeton under Section 17(f) of the Investment Company Act of 1940 (the 1940 Act) and Rule 17f-2.
Continue Reading SEC Staff Grants No-Action Relief for Digital Asset Custody
On Aug. 5, 2026, the Securities and Exchange Commission announced a new specialized unit within its Division of Enforcement focused on accounting and financial reporting fraud, as well as broader misconduct in the accounting and auditing areas.
Continue Reading SEC Creates Financial Reporting and Accounting Unit in Enforcement Division
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.
Continue Reading UK Financial Conduct Authority Consults on Tougher Penalty Framework
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.
Continue Reading Supreme Court Limits Private Rescission Claims Under the Investment Company Act
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.
Continue Reading Brian Johnson Nominated as New CFPB Director
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.
Continue Reading SEC Division of Examinations Publishes Risk Alert on Economic Conflicts of Interest
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.
Continue Reading CFTC Division of Enforcement Issues New Cooperation Policy
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.
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.
Continue Reading CFPB Final Rule Narrows Small Business Lending Data Collection Requirements
The SEC has raised the financial thresholds for “qualified client” status under the Investment Advisers Act, with new assets-under-management and net worth requirements taking effect June 29, 2026.
Continue Reading SEC Raises Threshold for ‘Qualified Client’ Status, Effective June 29, 2026