On March 19, 2026, the federal banking agencies issued a package of proposed changes to the regulatory capital requirements for banking institutions of all sizes, from the largest GSIBs and super-regional banks to community banks. This package of proposals (the “Proposed Rules”) is a second full attempt at implementing the 2017 “Basel III Endgame” international framework—following the agencies’ initial package of proposals in July 2023 (the “2023 NPR”)—to better reflect credit, trading and operational risk in the calculation of regulatory capital ratios.

The FTC's focus on affordability continues. New enforcement actions target healthcare plan costs and whether consumers are misled about the costs and comprehensiveness of the plans.

At the Federal Trade Commission (FTC), its divided priorities on consumer harm from everyday costs and technology censorship came into full focus this month. FTC activity enforcement on everyday consumer costs continued with an announcement settling litigation with pharmacy benefit managers (PBMs) the FTC alleged were driving up healthcare costs.

As we near the final quarter of 2024, in a year with global temperatures looking to break new records (again), achievement of various 2025 or 2030 targets set by companies looking less likely by the day, ...

On November 18, with the initial reporting deadline of January 1, 2026 rapidly approaching under California's climate reporting law SB 261 (the Climate-related Financial Risk Act), the U.S. Court of Appeals for the Ninth Circuit granted a motion for injunction pending appeal of the law.

The FTC’s recent activity fits squarely within several areas the agency has been watching closely: protecting kids and teens, rental housing costs, and Made in the USA claims. The FTC’s final TruHeight order is a good reminder that child and teen health claims remain a high-risk area. The RentGrow matter shows the FTC continuing to press on rental-housing practices, while the latest Made in the USA warning letters reinforce that those claims remain an enforcement priority.

When California Governor Gavin Newsom signed SB 253 and 261[1] into law last year—creating the first broad, industry-agnostic domestic climate reporting obligations for U.S. companies doing business

Under SEC-Chairman Paul Atkins, the Securities and Exchange Commission has proposed a new set of rules that would permit electronic delivery as the default method of delivery for all required disclosures under the federal securities laws. [1] If adopted, this would mark a foundational and very welcome shift in how registered investment advisers, investment companies, business development companies, broker-dealers, transfer agents, and other regulated entities may deliver required disclosures to investors, clients, and other market participants.

In a busy month at the FTC, there was continued enforcement activity on misleading fees, including a settlement alleging StubHub deceptively advertised ticket prices in violation of the FTC’s Fee Rule, and the announcement of a proposed rulemaking that could result in fines for deceptive fees for online food and grocery delivery services.

The FTC is seeking public comment on two new proposed rules addressing price transparency, a rule on fee practices in the housing sector, as well as an updated rule on negative option plans (i.e., or plans with ongoing charges to consumers unless they take action, such as a subscription).

On March 19, 2026, the federal banking agencies issued a package of proposed changes to the regulatory capital requirements for banking institutions of all sizes, from the largest GSIBs and super-regional banks to community banks. This package of proposals (the “Proposed Rules”) is a second full attempt at implementing the 2017 “Basel III Endgame” international framework—following the agencies’ initial package of proposals in July 2023 (the “2023 NPR”)—to better reflect credit, trading and operational risk in the calculation of regulatory capital ratios.

On March 19, 2026, the federal banking agencies issued a package of proposed changes to the regulatory capital requirements for banking institutions of all sizes, from the largest GSIBs and super-regional banks to community banks (the “Proposed Rules”). This package of proposals is a second full attempt at implementing the 2017 “Basel III Endgame” international framework—following the agencies’ initial package of proposals in July 2023 (the “2023 NPR”)—to better reflect credit, trading and operational risk in the calculation of minimum regulatory capital ratios.

Investment advisers should periodically refresh their personnel on rules and policies governing political contributions, and—with the 2026 midterm election cycle now underway—this is an opportune time to do so. This note focuses on the so-called "pay-to-play" rule in Rule 206(4)-5 of the Investment Advisers Act of 1940 (the "Pay-to-Play Rule" or the "Rule")

Earlier this month, the SEC's Division of Examinations (the "Division") released a Risk Alert pertaining to registered investment companies ("RICs") and their advisers.

On March 19, 2026, the federal banking agencies issued a package of proposed changes to the regulatory capital requirements for banking institutions of all sizes, from the largest GSIBs and super-regional banks to community banks. This package of proposals (the “Proposed Rules”) is a second full attempt at implementing the 2017 “Basel III Endgame” international framework—following the agencies’ initial package of proposals in July 2023 (the “2023 NPR”)—to better reflect credit, trading and operational risk in the calculation of regulatory capital ratios.

On 26 February 2025, the European Commission released a highly anticipated "omnibus simplification package" in response to concerns that the burden of sustainability reporting requirements has created a competitive disadvantage for European companies and the EU economy.