WSJ Video: Regulators Focus On Reverse Churning By Advisers

On Wednesday, July 15, CFPB Director Richard Cordray assured the Senate Banking, Housing and Urban Affairs Committee, as well as the public, that data collected by the CFPB could not be used to personally identify any consumer.

The final rule goes into effect on November 9, 2020.

In a registration filing with the SEC, an investment firm is seeking approval of a series of double-leveraged bullish and bearish exchange-traded funds ("ETFs") that each track the performance of a single U.S.-listed equity security.

Climate disclosure regulations are among the most significant and complex challenges faced by companies and boards, with a variety of requirements emanating this year from numerous governmental authorities...

The Chicago Mercantile Exchange has filed a lawsuit against the CFTC challenging its approval of Kalshi's bitcoin perpetual futures contract, arguing that perpetual contracts should be classified as swaps rather...

On September 30, 2026, the Securities and Exchange Commission (SEC) issued two rule proposals and five notices aimed at expanding investors’ access to private markets. The package would add ways to qualify as an accredited investor, including passing a new exam administered by the Financial Industry Regulatory Authority (FINRA), broaden performance-based compensation and modernize regulated funds, including interval funds and business development companies (BDCs).

The SEC has proposed sweeping amendments to expand retail investor access to private market strategies, including changes to performance-based compensation rules for registered investment advisers and modernization of the interval fund framework. The proposals also explore new credential-based pathways for individuals to qualify as accredited investors, potentially opening private offerings to a broader pool of eligible participants.

The Securities and Exchange Commission has approved FINRA Rule 3290, which will replace existing rules governing outside business activities and private securities transactions for registered persons. This new rule narrows the scope to focus on investment-related activities while maintaining similar supervisory obligations for member firms. Understanding the key changes and implementation requirements will be critical for broker-dealers as they update their compliance policies and procedures.

The SEC has approved new NYSE and NYSE American listing rules establishing a $0.25 minimum trading price, effective July 1, 2027. A single closing price below this threshold triggers immediate trading suspension and delisting proceedings with no cure period. Companies trading at low share prices must act now during the transition period to implement reverse stock splits and establish monitoring procedures before this hard floor takes effect.

The Securities and Exchange Commission has proposed six new pathways for individuals to qualify as accredited investors, moving beyond traditional income and wealth thresholds. These changes would allow qualification through professional certifications like CPA, CFA, and CFP designations, as well as through a new FINRA-administered exam testing securities knowledge.

Designed for busy in-house counsel, compliance professionals, and anti-corruption lawyers, this newsletter summarizes some of the most important international anti-corruption law and enforcement...

On December 18, 2025, President Trump signed into law the BIOSECURE Act as part of the National Defense Authorization Act (NDAA), which is the U.S. Congress's annual defense policy bill.

On 30 September 2021, the Ministry of Industry and Information Technology (MIIT) circulated for public comment the Measures on the Administration of Data Security in the Industry and Information Technology Sector

Japan is widely perceived as one of the least corrupt countries in the world. In 2020, Transparency International ranked Japan as the 19th least corrupt country out of 180 countries in...

A recent proposal issued by Japan's ruling Liberal Democratic Party, along with various other current private- and public-sector initiatives, signals a strong interest in promoting investment in and the growth...

On May 27, 2019, the Japanese government published amended rules[1] that aim to tighten the regulatory requirements applicable to foreign direct investment (tai nai chokusetsu toshi or FDI)

The new Enterprise Bankruptcy Law of the People’s Republic of China (PRC) (Bankruptcy Law) was adopted on August 27, 2006 and will take effect on June 1, 2007, superseding the 1986-enacted Enterprise Bankruptcy Law (Trial) 1986, governing the bankruptcy of State-owned Enterprises . The Bankruptcy Law offers for the first time a unified regime applicable to all types of enterprises in China and also provides a more robust and detailed regime for enforcement of creditors’ claims. We discuss below

On June 30, 2017, the Wuhan Intermediate People's Court (the "Wuhan Court") issued a decision recognizing and enforcing a civil money judgment issued by the Los Angeles Superior Court arising out of...

Draft of New Guidelines Published. On June 8, 2023, the Ministry of Economy, Trade, and Industry ("METI"), a Japanese government agency tasked with promoting economic vitality in the private sector...

On 25 July 2018, the European Commission ("the Commission") published its decision on the Altice/PT Portugal gun jumping case. The Commission concluded that various contractual clauses allowed Altice N.V. ("Altice") ...