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Capital Markets
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									September 24, 2025
									Equity Trader Gets 2 Months For Insider TradingA Connecticut-based former head of equities trading for an investment firm who copped to insider trading in June has been sentenced to two months in prison and ordered to pay more than $331,000. 
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									September 24, 2025
									FINRA To Nix Minimum Equity Requirement For Day TradersThe Financial Industry Regulatory Authority announced Wednesday that its board approved changes to its rules for so-called pattern day trading that would remove a minimum equity requirement for such traders. 
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									September 24, 2025
									Judge Denies Tron Founder's Bid To Block Bloomberg ReportA Delaware federal judge declined to direct Bloomberg LP to remove reporting about Justin Sun's crypto holdings for now in an opinion that said he remains unconvinced the media outlet made any promise of confidentiality to the Tron founder. 
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									September 24, 2025
									Coinbase Wants Out Of Terraform Token Conversion Loss SuitCoinbase Inc. has urged a California federal court to toss a suit lodged by cryptocurrency buyers alleging the crypto exchange caused them to incur losses after Terraform's collapse three years ago, arguing the buyers' claims are both time-barred and fail to show that the crypto exchange intended to deceive. 
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									September 24, 2025
									Defunct Tech Co.'s CEO Bilked Investors Of $120M, Feds SayThe founder of a defunct Canadian technology company faces criminal charges and a civil suit in California federal court by securities regulators on Wednesday stemming from a fraud scheme where he allegedly raised $120 million after providing investors with bogus financial statements that inflated the company's financial condition and performance. 
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									September 24, 2025
									Comcast Loses Challenge To Labor Dept. ALJs' AuthorityComcast Corp. can't force a pair of former executives and the U.S. Department of Labor to sue in federal court, after a Virginia federal judge found that handing a Sarbanes-Oxley whistleblower case to an administrative law judge did not violate the company's Seventh Amendment rights. 
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									September 24, 2025
									Merrill Lynch Accuses Ex-Staff, Schwab, Investor Of IP TheftMerrill Lynch has filed a trade secrets lawsuit against a dozen former employees, Charles Schwab and Dynasty Financial Partners, alleging the defendants conspired to start a new independent financial advisory firm with Merrill's staff and confidential information. 
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									September 24, 2025
									Rick Perry's Data Center REIT Launches Plans For $550M IPOFermi America, a venture by former U.S. Energy Secretary Rick Perry to build a 5,000-acre Amarillo, Texas, energy and data center, sought a $13.1 billion valuation Wednesday in an initial public offering guided by Haynes Boone and Vinson & Elkins LLP. 
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									September 24, 2025
									SEC Taps Longtime FINRA Exec As Trading & Markets DeputyThe U.S. Securities and Exchange Commission on Wednesday named a new deputy director of the agency's Division of Trading and Markets who previously served in senior roles at the Financial Industry Regulatory Authority and most recently worked at SEC Chair Paul Atkins' now-former financial services consultancy. 
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									September 24, 2025
									Loeb & Loeb, Kirkland Guide SPAC Lafayette's $250M IPOGuided by Loeb & Loeb LLP and underwriters' counsel Kirkland & Ellis LLP, special purpose acquisition company Lafayette Digital Acquisition I filed Tuesday for a $250 million initial public offering with the U.S. Securities and Exchange Commission with hopes to acquire blockchain- or fintech-related merger targets. 
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									September 24, 2025
									PE-Focused Debt Finance Pro Boosts Cooley's Boston OfficeCooley LLP has grown its debt finance practice in Boston with the addition of a Choate Hall & Stewart LLP attorney. 
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									September 23, 2025
									Experian Beats Credit Investigation Suit, For NowExperian beat a proposed class action alleging it failed to timely reinvestigate disputed information in a plaintiff's file that kept him from securing a property mortgage loan, a North Carolina federal judge said Tuesday, finding that the plaintiff lacked standing and couldn't fairly trace his injury to the delay in reinvestigation. 
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									September 23, 2025
									Banks Urge SEC To Hold Crypto Custody To Same StandardsFinancial services trade groups have cautioned the U.S. Securities and Exchange Commission against broadly permitting investment advisers and state-chartered trust companies to safeguard customer's cryptocurrency assets, urging the agency to maintain equal standards for all financial custodians amid planned crypto rulemaking. 
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									September 23, 2025
									RadioShack Reboot Plan Morphed Into $112M Scam, SEC SaysThe U.S. Securities and Exchange Commission sued three former Retail Ecommerce Ventures LLC executives in Florida federal court Tuesday, alleging they raised $112 million through fraudulent securities offerings that operated as a Ponzi-like scheme that promised bogus 25% annual returns to revitalize popular REV brands including RadioShack and Pier 1 Imports. 
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									September 23, 2025
									CFTC Seeks Feedback On The Use Of Crypto CollateralThe U.S. Commodity Futures Trading Commission launched an initiative on Tuesday to enable the use of certain crypto assets as collateral in derivatives markets, soliciting industry suggestions on potential pilot programs, amendments to regulations and relevant issues. 
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									September 23, 2025
									SEC Accuses Russian Man Of Hacking Pump & Dump SchemeThe U.S. Securities and Exchange Commission hit a Russian national with a civil suit Monday, accusing him of hijacking hundreds of individual consumer brokerage accounts to run a $31 million pump-and-dump scheme with low-volume stocks and options. 
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									September 23, 2025
									Hedge Funds Call For CFTC To End Dual RegistrationA group representing the hedge fund industry is calling on the U.S. Commodity Futures Trading Commission to drop the need for industry participants to submit to agency oversight in cases where fund managers are already registered with the U.S. Securities and Exchange Commission, calling the dual registration requirement "costly" and "inefficient." 
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									September 23, 2025
									Chair Of Puerto Rican Bank Pleads Guilty To $13.6M FraudThe chairman of the board of Puerto Rico-based Nodus International Bank has pled guilty to leading a scheme through which he and the bank's former CEO stole more than $13.6 million from Nodus and used it for their own benefit. 
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									September 23, 2025
									LPL Financial Nabs Ex-AUSA, Eversheds Investigations HeadLPL Financial has hired a former Manhattan federal prosecutor as head of litigation and arbitration following her time as co-leader of Eversheds Sutherland's corporate crime and investigations practice. 
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									September 23, 2025
									FTX Trust Seeks $1B From Crypto Miner Genesis DigitalThe recovery trust created under FTX's Chapter 11 plan has filed a lawsuit in Delaware bankruptcy court that aims to claw back more than $1 billion that FTX's founder invested in Genesis Digital Assets Ltd., accusing the bitcoin mining firm of overinflating its value and projections to secure the funds. 
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									September 23, 2025
									Climate Transition-Focused SPAC Plans For $150M IPOSpecial purpose acquisition company Climate Transition Special Opportunities SPAC I has filed plans with U.S. regulators to raise up to $150 million in its initial public offering, with the goal of acquiring a company in the renewable energy or specialty finance space. 
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									September 23, 2025
									Morningstar Nabs Market Data Provider CRSP In $375M DealInvestment insights provider Morningstar Inc., advised by Mayer Brown LLP, on Tuesday announced plans to acquire the Center for Research in Security Prices, which collects stock market data and builds indexes, from the University of Chicago, led by Reed Smith LLP, in a $375 million deal. 
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									September 22, 2025
									Ex-Joseph Gunnar Broker Cops To $1M Insider Trading SchemeA former Joseph Gunnar & Co. broker Monday admitted to his role in what prosecutors say was a scheme to use confidential information about upcoming secondary stock offerings to make over $1 million in illicit profits. 
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									September 22, 2025
									Davis Polk, Goodwin Guide $675M Bitcoin Treasury MergerStrive Inc. announced Monday that it plans to purchase $675 million worth of bitcoin and acquire Semler Scientific Inc. in an all-stock transaction in a deal guided by Davis Polk & Wardwell LLP and Goodwin Procter LLP. 
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									September 22, 2025
									UK, US To Collaborate On Capital Markets, Crypto PolicyThe U.S. Department of the Treasury and the United Kingdom's financial ministry on Monday announced the formation of a joint taskforce to explore ways to collaborate on digital asset policy and "improve links" between the two countries' capital markets. 
Expert Analysis
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								Series Law School's Missed Lessons: Practicing Self-Care  Law schools don’t teach the mental, physical and emotional health maintenance tools necessary to deal with the profession's many demands, but practicing self-care is an important key to success that can help to improve focus, manage stress and reduce burnout, says Rachel Leonard at MG+M. 
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								Nev. Steps Up Efforts To Attract Incorporations With New Law  Recent amendments to Nevada corporate law, which will narrow controlling stockholders’ liability, streamline mergers and allow companies to opt out of jury trials, show the interstate competition to attract new and reincorporating companies is still heating up, say attorneys at Simpson Thacher. 
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								ABA Opinion Makes It A Bit Easier To Drop A 'Hot Potato'  The American Bar Association's recent ethics opinion clarifies when attorneys may terminate clients without good cause, though courts may still disqualify a lawyer who drops a client like a hot potato, so sending a closeout letter is always a best practice, say attorneys at Thompson Hine. 
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								3rd-Party Audit Tactics To Improve Export Control Compliance.jpg)  Companies should take a strategic approach to third-party audits in response to the Trump administration's ramp-up of export control enforcement with steps that strengthen their ability to identify the control weaknesses of distributors, dealers and resellers, say Michael Huneke at Hughes Hubbard, and John Rademacher and Abby Williams at Secretariat Advisors. 
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								How Trump's Trade Policies Are Shaping Foreign Investment.jpg)  Five months into the Trump administration, investors are beginning to see the concrete effects of the president’s America First Investment Policy as it presents new opportunities for clearing transactions more quickly, while sustaining risk aversion related to Chinese trade and potentially creating different political risks, say attorneys at Covington. 
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								How Trump Admin Treasury Policies Are Reaching Banks  The Treasury Department has emerged as an important facilitator of the Trump administration's financial policies affecting banks, which are now facing deregulation domestically and the use of international economic authorities in cross-border trade and investment, say attorneys at Davis Polk. 
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								Series My Opera And Baseball Careers Make Me A Better Lawyer  Though participating in opera and the world of professional baseball often pulls me away from the office, my avocations improve my legal career by helping me perform under scrutiny, prioritize team success, and maintain joy and perspective at work, says Adam Unger at Herrick Feinstein. 
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								A Look At DOJ's Dropped Case Against Early Crypto Operator  The prosecution of an early crypto exchange operator over alleged unlicensed money transmission was recently dropped in Indiana federal court, showcasing that the U.S. Justice Department may be limiting the types of enforcement cases it will bring against digital asset firms, say attorneys at Greenberg Traurig. 
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								8 Ways Lawyers Can Protect The Rule Of Law In Their Work  Whether they are concerned with judicial independence, regulatory predictability or client confidence, lawyers can take specific meaningful actions on their own when traditional structures are too slow or too compromised to respond, says Angeli Patel at the Berkeley Center of Law and Business. 
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								Assessing New Changes To Texas Officer Exculpation Law  Consistent with Texas' recent modernization of its corporate law, the recently passed S.B. 2411 allows officer exculpation, streamlines certificate of formation amendments, authorizes representatives to act on shareholders' behalf in mergers and makes other changes aimed toward companies seeking a more codified, statutory model of corporate governance, say attorneys at Bracewell. 
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								Series Law School's Missed Lessons: Communicating With Clients  Law school curricula often overlook client communication procedures, and those who actively teach this crucial facet of the practice can create exceptional client satisfaction and success, says Patrick Hanson at Wiggam Law. 
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								Series Adapting To Private Practice: From US Rep. To Boutique Firm  My transition from serving as a member of Congress to becoming a partner at a boutique firm has been remarkably smooth, in part because I never stopped exercising my legal muscles, maintained relationships with my former colleagues and set the right tone at the outset, says Mondaire Jones at Friedman Kaplan. 
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								Opinion Senate's 41% Litigation Finance Tax Would Hurt Legal System  The Senate’s latest version of the Big Beautiful Bill Act would impose a 41% tax on the litigation finance industry, but the tax is totally disconnected from the concerns it purports to address, and it would set the country back to a time when small plaintiffs had little recourse against big defendants, says Anthony Sebok at Cardozo School of Law. 
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								Comparing Stablecoin Bills From UK, EU, US And Hong Kong  For multinational stablecoin issuers, navigating the differences and similarities among regimes in the U.K., EU, Hong Kong and U.S., which are currently unfolding in several key ways, is critical to achieving scalable, compliant operations, say attorneys at Morgan Lewis. 
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								What Baseball Can Teach Criminal Attys About Rule Of Lenity  Judges tend to assess ambiguous criminal laws not unlike how baseball umpires approach checked swings, so defense attorneys should consider how to best frame their arguments to maximize courts' willingness to invoke the rule of lenity, wherein a tie goes to the defendant, says Jonathan Porter at Husch Blackwell.