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Conyers

Increased Enforcement Actions Regarding Cayman Islands Economic Substance

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In 2024, there has been a sharp increase in the number of enforcement actions initiated by the Cayman Islands Tax Information Authority (“TIA”) and fines levied against relevant entities (such as Cayman Islands exempted...more

Ballard Spahr LLP

Texas Judge Rules CFPB Did Not Exceed Authority in Issuing Small Business Reporting Rule

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In a tentative win for the CFPB, a federal judge in Texas ruled on August 26, 2024, that the agency did not exceed its authority when it issued its final Section 1071 small business lending rule. The court also rejected...more

Ballard Spahr LLP

Plaintiffs file their brief in opposition to CFPB’s motion to dissolve the preliminary injunction in the credit card late fee...

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On August 8, 2024, the plaintiffs filed their brief in opposition to the CFPB’s motion to dissolve the preliminary injunction in the lawsuit challenging the CFPB’s credit card late fee final rule (“Rule”). In their brief, the...more

Polsinelli

The Chevron Doctrine: Part II—Congress’s Reaction to the Repeal and the Legislative Process

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On June 28th, in Loper Bright Enterprises v. Raimondo, the U.S. Supreme Court overturned the Chevron Doctrine. The 6-3 decision was anticipated. But its breadth marks the Court’s opinion as a modern-day Marbury v. Madison....more

Troutman Pepper

2024 Mid-Year Review: State AGs Shaping Regulatory Landscapes

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In 2024, the landscape of state attorneys general (AGs) is poised for significant change, with numerous elections and regulatory actions reshaping priorities and enforcement strategies. This dynamic environment reflects the...more

Foley & Lardner LLP

The End of Chevron Deference and the Implications for the SEC

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On June 28, 2024, the U.S. Supreme Court issued its decision in Loper Bright Enterprises v. Raimondo and Relentless Inc. v. Department of Commerce[1], overruling the Chevron doctrine. This holding overturns the decades-long...more

McDermott Will & Emery

US Supreme Court Overturns Chevron Deference

In Loper Bright Enterprises v. Raimondo, the US Supreme Court expressly overruled the doctrine of deferring to an agency’s interpretation of allegedly ambiguous statutory language initially articulated in Chevron U.S.A. Inc....more

Manatt, Phelps & Phillips, LLP

House Passes Cryptocurrency Bill Promising Regulatory Clarity

After many iterations over the years attempting to regulate the cryptocurrency space, the House of Representatives passed the Financial Innovation and Technology for the 21st Century Act, or FIT21 Act, on May 22, 20241.  The...more

Mayer Brown Free Writings + Perspectives

House Passes Digital Asset Market Structure Legislation: Financial Innovation and Technology for the 21st Century Act (FIT21)

On May 22, 2024, the US House of Representatives passed H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21), which would amend existing securities and commodity regulatory statutes to...more

Barnea Jaffa Lande & Co.

Privacy and AI in Israel and worldwide: a look to 2024

During 2023, privacy protection and artificial intelligence regulation continued apace and their implications continued to be a major focus in Israel and around the world. In Israel, this was reflected in a number of...more

Jones Day

CFPB Seeks to Expand Regulatory Powers Over Consumer Payment Tech Entities

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On November 7, 2023, the Consumer Financial Protection Bureau ("CFPB") issued a proposed rule that would grant it supervisory authority over major nonbank technology companies in the consumer digital payments space....more

Littler

California Could Revive the Industrial Welfare Commission

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As happens this time every year in California, legislators and the governor are crafting a state budget for the upcoming fiscal year. The budget bill currently under consideration in Sacramento contains a startling and...more

Cadwalader, Wickersham & Taft LLP

Subscribe Proposed Bicameral Legislation to Broaden FERC’s Enforcement Jurisdiction over Trading Energy Commodities

Earlier this month members of Congress jointly introduced the “Energy Consumer Protection Act of 2023,” with the intention of expanding the Federal Energy Regulatory Commission’s (“FERC”) ability to address energy market...more

WilmerHale

FTX Bankruptcy - What Could Be Next for the Industry?

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One of the world’s largest cryptocurrency exchanges - FTX Trading Ltd. - and many of its affiliates filed for bankruptcy earlier this month. While the full impact of the FTX bankruptcy is not yet clear, various responses from...more

Holland & Knight LLP

EU, South Korea, Japan Announce Metaverse Regulation Plans

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Every dramatically new technology, from cryptocurrency to drones to artificial intelligence, poses a regulatory challenge. Governments must decide how to characterize the technology within existing laws, how those existing...more

Cadwalader, Wickersham & Taft LLP

Proposed Legislation to Regulate Digital Commodity

On August 3, Senate Agriculture Committee Chairwoman Debbie Stabenow, a Democrat from Michigan, and John Boozman, the top Republican on the committee, introduced a bipartisan bill aimed at regulating digital assets....more

Dorsey & Whitney LLP

Crypto Assets: From Off The Grid To A Seat At The Table

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The Beginning - Crypto assets were initially “off the grid,” and many early proponents celebrated the promise of their regulatory independence. While conventional assets were governed by a virtual alphabet soup of federal...more

BCLP

Federal PFAS Development: Preliminary Effluent Guidelines Program Plan 15

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The United States Environmental Protection Agency (“EPA”) has outlined additional steps that it plans to take to investigate and in some cases regulate the discharge of per- or polyfluoroalkyl compounds (“PFAS”) in certain...more

Latham & Watkins LLP

FCA Business Plan 2021/22: Firms Should Expect a More Assertive FCA

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FCA signals that it aims to take a tougher stance. The FCA published its Business Plan for 2021/22 on 15 July 2021. The Plan, and accompanying remarks made by Nikhil Rathi, FCA CEO, suggest that the FCA intends to take a...more

Ballard Spahr LLP

FDIC Seeks Comment on Its Approaches to Rulemaking

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The Federal Deposit Insurance Corporation (the “FDIC”) has published a request for information in the Federal Register (the “RFI”) seeking comment on approaches it uses, or is considering using, to analyze the effects of its...more

Latham & Watkins LLP

The G7 Draws a Line in the Sand for Global Stablecoins

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Global monetary authorities and financial regulators have responded forcefully to the advent of privately developed global stablecoins. A new report highlights the risks of global stablecoins and enumerates the legal,...more

Ballard Spahr LLP

Kraninger outlines approach to CFPB authority in Bipartisan Policy Center remarks

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In remarks yesterday at the Bipartisan Policy Center (BPC), CFPB Director Kathy Kraninger outlined how she plans to use the various “tools” available to the CFPB. ...more

King & Spalding

FDA Regulation of Cannabis

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Agency Notice Touts Authority to Regulate Products Containing Cannabis and Cannabis-derived Compounds - On April 4, 2019, the U.S. Food and Drug Administration (FDA) published a notice in the Federal Register that it...more

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