News & Analysis as of

Regulatory Oversight

Mayer Brown

US SEC Gives Green Light to Swiss-Based Investment Adviser Registration Applications

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On June 10, 2025, the US Securities and Exchange Commission (SEC) announced that it will immediately resume processing new and pending registration applications of investment advisers with their principal office and place of...more

Pillsbury Winthrop Shaw Pittman LLP

Water, Reused: Texas Reshapes Liability and Regulatory Rules on Produced Water, Leaves Ownership Questions Unanswered

The Texas legislature passed a series of bills aimed at modernizing the legal and regulatory landscape for the handling and reuse of produced water—a byproduct of oil and gas operations. These developments address permitting,...more

Sheppard Mullin Richter & Hampton LLP

Maine Gambling Control Unit Issues Warning on Illegal Online Gaming Including Certain Sweepstakes Models

Maine’s Gambling Control Unit (GCU) has issued a formal warning regarding the proliferation of illegal interactive gaming (“iGaming”) platforms operating within the state. The warning emphasized that while certain forms of...more

McDermott Will & Emery

House Budget Reconciliation Bill Would Delay State AI Regulation

McDermott Will & Emery on

On May 22, 2025, the US House of Representatives passed the budget reconciliation bill, known as the “One Big Beautiful Bill Act,” which includes language that would prohibit any state from enforcing any law or regulation...more

Seyfarth Shaw LLP

Nominee for OSHA Chief David Keeling Testifies Before Senate Committee, Outlines Workplace Safety Priorities and Workplace...

Seyfarth Shaw LLP on

On Thursday, June 5, 2025, OSHA Nominee David Keeling testified that he plans to adopt a more cooperative, proactive approach and pursue a new workplace violence regulation....more

Ballard Spahr LLP

Senate Banking Republican reconciliation bill would eliminate CFPB funding source

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The Senate Banking, Housing and Affairs Committee (Banking Committee) would eliminate the CFPB’s current funding source, as part of Committee’s Republican version of its part of the massive budget reconciliation bill,...more

Morgan Lewis - As Prescribed

Key Takeaways from the AI Trends in Medical Devices Panel at the 2025 FDLI Annual Conference

Ariel Seeley served on the panel titled AI Trends in Medical Devices: Global Developments, FDA Policies, and Software as a Medical Device at the 2025 Food and Drug Law Institute (FDLI) Annual Conference. The panel provided an...more

Mintz

Ratings Agency Announces That It Will Analyze Physical Climate Risk When Evaluating Certain Assets

Mintz on

Recently, Fitch Ratings issued a discussion paper that outlined a “contemplated framework for the analysis of physical climate risk for [Structured Finance] and [Covered Bonds] for the potential negative implications of...more

White & Case LLP

AI Watch: Global regulatory tracker - Spain

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Spain pioneers AI governance with Europe's first AI regulator (AESIA), an already active regulatory sandbox, and a draft national AI law implementing the EU AI Act. Laws/Regulations directly regulating AI (the “AI...more

Troutman Pepper Locke

NAIC Responds to Proposed 10-Year Moratorium on State Regulation of AI in One Big Beautiful Bill Act

Troutman Pepper Locke on

There is a proposed 10-year moratorium on the enforcement of state laws that regulate artificial intelligence (AI) contained in Section 43201(c) of H.R.1 – One Big Beautiful Bill Act. ...more

Troutman Pepper Locke

CFPB Signals Review of Mortgage Servicing and Larger Participant Rules

Troutman Pepper Locke on

Last week, the Consumer Financial Protection Bureau (CFPB or Bureau) submitted several regulatory proposals to the Office of Management and Budget (OMB) for review. Among the rules under consideration are those related to...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Aboveground Storage Tanks/Unmanned Aircraft Systems: Louisiana Department of Environmental Quality Approves Drones for Visual...

The Louisiana Department of Environmental Quality (“LDEQ”) issued a May 21st news release stating that it has approved the use of unmanned aircraft systems (i.e., “drones”) to conduct visual inspections of aboveground storage...more

Katten Muchin Rosenman LLP

Confirming a Negative: CFTC Staff Issue an Advisory Clarifying When Foreign-Organized Entities Are Trading and Brokering Digital...

Derivatives market participants and exchanges can breathe a little easier now that Staff of the Market Participants Division and the Division of Market Oversight of the Commodity Futures Trading Commission (CFTC or...more

White & Case LLP

AI Watch: Global regulatory tracker - Israel (UPDATED)

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Israel promotes responsible AI innovation through policy and sector-specific guidelines to address core issues and ethical principles. Laws/Regulations directly regulating AI (the “AI Regulations”) Currently, there are no...more

A&O Shearman

FCA supports move towards faster settlement cycle for fund trades

A&O Shearman on

The UK Financial Conduct Authority (FCA) has published a press release welcoming a joint statement from asset management trade associations supporting the transition to faster settlement of trades in funds. Effective from 11...more

Quarles & Brady LLP

SCOTUS Unanimously Limits Scope of NEPA in Major Infrastructure Ruling

Quarles & Brady LLP on

Seven County Infrastructure Coalition et al. v. Eagle County, Colorado, et al. The U.S. Supreme Court recently clarified the scope of federal agency review requirements under the National Environmental Policy Act (“NEPA”)...more

Troutman Amin LLP

COMMISSION GUTTED?: Rumors and Withdrawals Suggest FCC May Soon Be Unable To Act

Troutman Amin LLP on

So it is being reported by Communications Daily that FCC Republican Commissioner Nathan Simington is expected to either leave the agency or announce his imminent departure this week. ...more

Orrick, Herrington & Sutcliffe LLP

OCC’s Hood remarks on building a “resurgent” financial system

On June 3, the OCC Acting Comptroller, Rodney E. Hood, delivered remarks outlining how he plans to build a resilient and resurgent financial system. The Acting Comptroller emphasized four key strategies: accelerating...more

Orrick, Herrington & Sutcliffe LLP

OCC releases its May 2025 CRA performance evaluations

On June 2, the OCC released a list of CRA performance evaluations that became public during the month of May. The OCC evaluated 18 banking entities, including national banks, federal savings associations, and insured federal...more

Conn Maciel Carey LLP

A (Brief) Preview of the Future of Workplace Safety & Health: Trump’s Nominee to Lead OSHA Appears Before the Senate HELP...

Conn Maciel Carey LLP on

On Thursday, June 5, David Keeling, President Trump’s nominee to serve as Assistant Secretary of Labor (OSHA), appeared before the Senate Committee on Health, Education, Labor and Pensions (the “HELP Committee”). After...more

Orrick, Herrington & Sutcliffe LLP

FDIC releases list of recent enforcement actions

On May 30, the FDIC published a list of administrative enforcement actions taken against banks and individuals during the month of April as well as two decisions from 2024 that were omitted from previous FDIC publications....more

A&O Shearman

FCA policy statement on finalised ENFG for the publication of enforcement measures

A&O Shearman on

The UK Financial Conduct Authority (FCA) has published policy statement PS25/5 accompanied by a press release, outlining final revisions to its Enforcement Guide (now abbreviated as ENFG). The revisions follow a two-part...more

King & Spalding

GAO Publishes Findings Regarding Prior Authorization of Behavioral Health Services

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Last week, the Government Accountability Office (GAO) published a report determining that there is a nontrivial risk that prior authorization requirements, together with internal coverage criteria, may undermine the Medicare...more

DLA Piper

Time to Reassess The Definition of a Foreign Private Issuer?

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As discussed at an open meeting held on June 4, 2025, the US Securities and Exchange Commission (Commission) published a concept release (Release) soliciting comments on whether to revise the definition of “foreign private...more

White & Case LLP

AI Watch: Global regulatory tracker - Brazil (UPDATED)

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Brazil intends to regulate AI through Bill No. 2,338/2023 ("Brazil's Proposed AI Regulation"), although there are currently no specific codified laws, statutory rules or regulations in Brazil that directly regulate AI....more

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