The SEC has proposed two complementary rule packages that would fundamentally restructure the U.S. securities offering and reporting disclosure framework. Most significantly, one proposal would preempt state securities law registration requirements for registered offerings, which would be pivotal for non-traded business development companies.

Last year marked a decrease in federal securities class action filings, with plaintiffs filing 207 cases in 2025, down from 225 in 2024. However, life sciences companies remained popular targets, accounting for 47 of these filings.1 In this White Paper, we examine 2025's filing and decision trends and provide insights to help life sciences companies navigate the litigation landscape prudently.

On September 29, 2025, the SEC issued notice of an application filed by Dimensional Fund Advisors LP and its affiliates ("DFA") to offer an ETF share class ("ETF Class") and mutual fund share classes ("Mutual Fund Class") within the same fund ("ETF Share Class Relief").

The Economic Crime and Corporate Transparency Act 2023 (ECCTA 2023) has enacted a new failure to prevent fraud offence which will come into effect on 1 September 2025.

Last week the UK's new Arbitration Act 2025 (the "Act") received Royal Assent. In this update, we summarise the background to the Act and the main changes emerging from it.

On 29 July 2025, the Supreme Court handed down judgment in the combined appeals in Shvidler v Secretary of State for Foreign, Commonwealth and Development Affairs (‘Shvidler') and Dalston Projects Ltd and others v Secretary of State for Transport (‘Dalston Projects').

Institutional, state-backed and high net worth investors continue to target investments in English football, in part driven by the Premier League’s surging revenues (£6.4bn in 2024).

The IPO market saw unprecedented growth in 2020, with 480 IPOs (248 of which were SPACs), nearly double the number of IPOs in 2019. Life sciences and tech companies led the wave of newly public issuers with 89 life sciences companies pricing IPOs in 2020.

On March 26, 2026, President Trump issued a new Executive Order entitled “Addressing DEI Discrimination by Federal Contractors” (the “March 2026 EO”) which requires federal contractors...

Through two unanimous decisions, the Supreme Court has made it easier for employees to avoid arbitration due to their status as "transportation workers" and to challenge job transfers as discriminatory...

The Supreme Court's landmark decision in FS Credit Opportunities Corp. v. Saba resolves a critical circuit split regarding Section 47(b) of the Investment Company Act of 1940, determining whether activist investors can bring private lawsuits to rescind fund contracts based on alleged regulatory violations. This ruling fundamentally reshapes the litigation landscape for registered investment companies, their directors, and service providers by clarifying the boundaries of federal enforcement mechanisms versu

The National Defense Authorization Act for Fiscal Year 2026 ("NDAA") includes the Comprehensive Outbound Investment National Security Act of 2025 (the "Act"). The Act codifies, resources, and provides a preview of changes to the U.S. Outbound Investment Security Program ("OISP").

One of the many strengths of decentralised blockchain technology and the crypto markets is that they are truly global. The opportunities this provides are enormous...

The SEC Staff issued a statement clarifying that operators of certain crypto wallet interfaces are not required to register as a broker-dealer for five years.

DAMITT, the Dechert Antitrust Merger Investigation Timing Tracker, analyzes significant U.S. and EU antitrust merger investigation trends through Q2 2026. U.S. enforcement shows faster review timelines and increased settlements over litigation, while EU activity hits record lows with only three significant investigations in the first half of 2026. The European Commission has also published draft revised Merger Guidelines representing the most significant reform in two decades.

The CFTC has taken coordinated actions to bring perpetual contracts under U.S. regulatory oversight, approving the first bitcoin perpetual contract on a domestic exchange.

On August 7, 2025, President Trump issued an Executive Order (the "Executive Order") intending to expand access to alternative assets (such as private equity, real estate, private credit...

Business development companies have evolved sophisticated financing structures spanning subscription facilities, asset-based lending, CLO issuances, and structured credit products.

Applying its recent re-interpretation of Article 22 of the European Union Merger Regulation ("EUMR"), which enables Member States to refer to the European Commission ...

On May 28, 2025, the Court of International Trade ("CIT") issued a decision vacating and permanently enjoining several of the Trump Administration's executive orders...