Expert Analysis

• DC Circ. Decision Reaffirms SEC Authority Post-Loper Bright

  

  The recent denial of a challenge to invalidate 2024 amendments to the U.S. Securities and Exchange Commission's tick size and fee-cap rules reinforces the D.C. Circuit's deference to SEC expertise in market structure regulation, even after Loper Bright, though implementation of the rules remains uncertain, say attorneys at Sidley.

• 10 Commandments For Agentic AI Tools In The Legal Industry

  

  Though agentic artificial intelligence has demonstrated significant promise for optimizing legal work, it presents numerous risks, so specific ethical obligations should be built into the knowledge base of every agentic AI tool used in the legal industry, says Steven Cordero at Akerman LLP.

• 10th Circ. Decision May Complicate Lending In Colorado

  

  The Tenth Circuit's decision last month in National Association of Industrial Bankers v. Weiser clears the way for interest rate limits on all consumer lending in Colorado, including loans from out-of-state banks, potentially adding new complexities to lending to Colorado residents, say attorneys at Manatt.

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  Preaching Makes Me A Better Lawyer

  

  Becoming a Gospel preacher has enhanced my success as a trial lawyer by teaching me the importance of credibility, relatability, persuasiveness and thorough preparation for my congregants, the same skills needed with judges and juries in the courtroom, says Reginald Harris at Stinson.

• Why Digital Asset Treasuries Are Drawing Regulator Concerns

  

  Financial regulators’ recent focus on potential insider trading and investor risk at hundreds of publicly traded digital asset treasuries may have been summoned by how quickly this rapidly expanding market responds to asset allocation decisions, as well as variations in risk disclosure practices across the sector, say attorneys at The Brattle Group.

• Minn. Financial Abuse Law Should Prompt Operational Review

  

  A new Minnesota law targeting the financial exploitation of vulnerable adults with an order-for-protection mechanism will affect multiple functions across banking organizations, and in the time remaining in 2025, banks should take action to update any needed workflow and documentation protocols, say attorneys at Winthrop & Weinstine.

• SEC Penalties Trended Down In FY 2025, Offering 2026 Clues

  

  The U.S. Securities and Exchange Commission's settled corporate penalties in fiscal year 2025 show a clear dividing line, as the largest penalties all came before Inauguration Day, a trend that may continue as the types of cases that lead to the biggest penalties seem to be no longer favored by the commissioners, say attorneys at Dentons.

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  Law School's Missed Lessons: Practicing Client-Led Litigation

  

  New litigators can better help their corporate clients achieve their overall objectives when they move beyond simply fighting for legal victory to a client-led approach that resolves the legal dispute while balancing the company's competing out-of-court priorities, says Chelsea Ireland at Cohen Ziffer.

• A Close Look At The Evolving Interval Fund Space

  

  Interval funds — closed-end registered investment companies that make periodic repurchase offers — have recently moved to the center of the conversation about retail access to private markets, spurred along by President Donald Trump's August executive order incorporating alternative assets into 401(k) plans and target date strategies, say attorneys at Simpson Thacher.

• A Primer On NYDFS' 3rd-Party Cybersecurity Guidance

  

  The New York Department of Financial Services' recently released comprehensive guidance for registrants on managing cybersecurity risks associated with third-party service providers illustrates why proactive engagement by senior leadership, robust due diligence, strong contractual protections and ongoing oversight are essential to mitigating growing risks, say attorneys at McGuireWoods.

• 9th Circ. Robinhood Ruling May Alter Intraquarter Disclosures

  

  By aligning with the Second Circuit and rejecting the First Circuit's extreme-departure standard, the Ninth Circuit recently signaled in its decision to revive a putative securities class action against Robinhood a renewed emphasis on transparency when known trends that can be considered material arise between quarterly reports, say attorneys at MoFo.

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  The Law Firm Merger Diaries: How To Build On Cultural Fit

  

  Law firm mergers should start with people, then move to strategy: A two-level screening that puts finding a cultural fit at the pinnacle of the process can unearth shared values that are instrumental to deciding to move forward with a combination, says Matthew Madsen at Harrison.

• The Future Of Digital Asset Oversight May Rest With OCC

  

  How the Office of the Comptroller of the Currency handles fintechs' growing interest in national trust bank charters, demonstrated by a jump in filings this year, will determine how far the federal banking system extends to digital assets, and whether the charter becomes a mainstream supervisory pathway, say attorneys at Sheppard Mullin.

• What CFPB Disparate Impact Proposal Means For Lenders

  

  Should the Consumer Financial Protection Bureau's reasoning for making proposed changes to the Equal Credit Opportunity Act — and the bureau itself — survive, lenders and other participants in the consumer finance industry may see a reduced emphasis on protected characteristics, say attorneys at Saul Ewing.

• Considerations When Invoking The Common-Interest Privilege

  

  To successfully leverage the common-interest doctrine in a multiparty transaction or complex litigation, practitioners should be able to demonstrate that the parties intended for it to apply, that an underlying privilege like attorney-client has attached, and guard against disclosures that could waive privilege and defeat its purpose, say attorneys at DLA Piper.