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The SEC’s proposed Regulation Crypto Assets would create tailored token-offering exemptions and a Form TR process for ending Commission-administered investment-contract treatment. The proposed certainty is conditional, challengeable, and incomplete across the federal securities laws.
The SEC’s proposal to permit semiannual reporting could significantly alter the public-company disclosure framework, but quarterly reporting may remain the market standard. Early surveys suggest many issuers would either continue filing Form 10-Q or maintain quarterly earnings releases even if formal SEC reporting becomes less frequent. This article examines the proposal, the potential compliance savings, investor-protection concerns, and why market expectations may ultimately determine reporting frequency.
Markets tied to drug trials and FDA decisions may improve price discovery. Their legitimacy will turn on controls governing confidential information, influence over outcomes, and cross-market manipulation. Article by Braeden Anderson.
Professor Ilya Beylin’s new empirical research examines whether Dodd-Frank improved or impeded U.S. swap markets. We assess his findings alongside leading academic studies on central clearing, swap execution facilities, liquidity, transaction costs, and derivatives risk management to evaluate what the post-crisis regulatory regime has actually meant for swap usage.
The SEC’s creation of a dedicated Financial Reporting and Accounting Unit marks a significant investment in accounting and audit enforcement. The new specialized team is expected to strengthen the Commission’s ability to investigate complex financial reporting issues, increase scrutiny of auditors and accounting professionals, and reinforce the importance of robust internal controls and corporate governance. Our analysis examines what this organizational change signals for public companies, audit committees, accounting firms, and financial executives.
In this Anderson Insights article, securities and crypto attorney Braeden Anderson analyzes SEC Commissioner Hester Peirce’s July 22, 2026 statement on crypto vaults and onchain lending. The article explains why the SEC is scrutinizing yield-generating crypto products and how vaults, lending protocols, and related strategies may trigger the Securities Act, Investment Company Act, and Investment Advisers Act. It also outlines the key legal and compliance issues facing crypto companies, DeFi developers, asset managers, lenders, and investment advisers.
The SEC approved FINRA’s expanded TRACE Affiliate—Principal Transaction Indicator on July 24, 2026. Once implemented, qualifying same-day, same-price principal transactions between affiliated FINRA members may be withheld from public dissemination when both firms share a reasonable belief that one affiliate will complete a corresponding transaction in the same security with another counterparty.
CFTC Staff Advisory No. 26-22 states that exchanges should not use broad templates to certify event contracts with different settlement sources or methodologies. Related contracts may be certified as a class only when they satisfy Regulation 40.2(d), including its identical-mechanics and prior-product requirements.
FINRA has proposed significant amendments to Rule 2210 that would replace mandatory principal pre-use approval of many retail communications with a risk-based supervisory framework. Regulatory Notice 26-14 also would modernize the treatment of social media, address firms’ use of generative AI, revise communications filing requirements, and simplify standards governing investment recommendations. Comments on the proposal are due September 11, 2026.
The CFTC’s reported investigation into Polymarket marks a significant test for prediction-market regulation. This Anderson Insights article examines Polymarket’s prior CFTC settlement, recent congressional scrutiny, allegations involving influencer marketing and simulated trading, and the broader compliance implications for event-contract platforms operating at the intersection of derivatives regulation, consumer protection, and gambling law.
The SEC and CFTC have launched a joint review of key Title VII derivatives definitions, signaling potential changes for swaps, security-based swaps, digital asset derivatives, prediction markets, and other emerging financial products. Learn what the request for comment means for market participants and the future of derivatives regulation.
The Commodity Futures Trading Commission has issued a Request for Information seeking public comment on regulations, guidance, no-action letters, and other regulatory items that may hinder fintech firms from partnering with regulated institutions or accessing CFTC-regulated markets. The initiative, issued pursuant to Executive Order 14405, could have significant implications for fintech, digital asset, and financial services firms seeking greater regulatory clarity and streamlined market access. Learn what the CFTC is asking for and why this development matters.
Gary Gensler’s amicus brief in the Kalshi litigation has become one of the most discussed filings in securities, derivatives, and fintech circles. Regardless of where lawyers stand on prediction markets, federal preemption, or Gensler’s broader regulatory legacy, the brief contains a number of unusually memorable passages. Here are the quotes and arguments that have generated the most attention across the legal industry.
The U.S. Supreme Court’s decision in FS Credit Opportunities Corp. v. Saba Capital Master Fund, Ltd. marks a significant development in securities and investment management law. The Court held that Section 47(b) of the Investment Company Act of 1940 does not create an implied private right of action, meaning private plaintiffs cannot sue solely under that provision to challenge alleged violations of the Act. The decision reinforces the Court’s modern yet conservative approach to implied rights of action, emphasizing that Congress, not the courts, determines who may enforce federal law. The ruling has important implications for closed-end funds, activist investors, investment advisers, fund boards, and litigants seeking to rely on remedial provisions in federal regulatory statutes.
The SEC is proposing to rescind Rule 611 of Regulation NMS, which generally prohibits trade-throughs of protected quotations in NMS stocks, and Rule 610(e), which requires exchanges and national securities associations to maintain rules designed to prevent members from displaying quotations that lock or cross protected quotations.
In plain English, the SEC is proposing to remove two foundational rules that have helped define how U.S. equity orders are routed, executed, and displayed across trading venues for the past twenty years.
Commissioner Hester M. Peirce’s June 9, 2026 farewell remarks at the U.S. Chamber of Commerce Capital Markets Summit offer a concise statement of administrative-law discipline for the SEC. Her remarks underscore a defining theme of her tenure: the Commission’s authority is substantial, but bounded by statute and the Constitution. This analysis considers Commissioner Peirce’s views on SEC authority, capital markets, digital-asset regulation, custody, investor protection, enforcement, disclosure, and the importance of lawful regulatory restraint.
The Commodity Futures Trading Commission has proposed a new framework for reviewing event contracts, including sports-related prediction markets, under Section 5c(c)(5)(C) of the Commodity Exchange Act. The proposal would establish a structured process for determining whether contracts involving gaming, terrorism, war, assassination, or unlawful activities are contrary to the public interest. The rulemaking represents the latest step in the CFTC’s effort to balance innovation in prediction markets with its statutory mandate to protect market integrity.
The SEC’s latest Risk Alert sends a clear message to investment advisers: economic conflicts of interest remain a core examination priority, and many firms continue to struggle with how those conflicts are disclosed, monitored, and managed.
The Supreme Court’s decision in Sripetch v. SEC holds that the Securities and Exchange Commission does not need to prove investor financial loss to obtain disgorgement. The Court reasoned that disgorgement is measured by the wrongdoer’s gain, not the investor’s loss. The ruling resolves a circuit split involving the Second Circuit’s decision in Govil and the First and Ninth Circuits’ decisions in Navellier and Sripetch. The decision strengthens the SEC’s enforcement authority but leaves unresolved whether disgorgement under § 78u(d)(7) is a legal remedy requiring a jury trial after Jarkesy.
The recent decision in United States v. Heppner should prompt every company, executive, founder, investor, and professional to revisit how they use artificial intelligence tools for legal and compliance issues. An AI platform is not a lawyer. Asking ChatGPT, Claude, Gemini, or any similar tool for legal guidance does not create an attorney-client relationship. It does not transform the user’s prompt into a privileged communication. And it does not place the exchange beyond the reach of prosecutors, regulators, civil litigants, or discovery subpoenas.
President Trump’s May 19, 2026 Executive Order on fintech innovation directs federal financial regulators to reexamine whether their existing rules, guidance, supervisory practices, and application processes are unnecessarily slowing the integration of fintech firms, digital assets, and innovative financial technology into the regulated financial system.
A practical guide to 17 CFR Part 229, Regulation S-K, the SEC’s narrative disclosure rules for business descriptions, risk factors, MD&A, cybersecurity, legal proceedings, non-GAAP measures, executive compensation, governance, exhibits, and public company reporting.
A practical guide to 17 CFR Part 210, Regulation S-X, the SEC’s rules for financial statements, auditor independence, accountants’ reports, acquired business financials, pro forma financial information, internal controls, and public company reporting.
A practical guide to 17 CFR Part 209, the SEC’s rules on forms prescribed under the Rules of Practice, including Form D-A for disclosure of assets and financial information in SEC enforcement, penalty, disgorgement, collection, and ability-to-pay matters.
A practical guide to 17 CFR Part 205, the SEC attorney conduct rules governing lawyers appearing and practicing before the Commission in issuer representations, including up-the-ladder reporting, issuer-as-client duties, supervisory attorney responsibilities, subordinate attorney duties, sanctions, discipline, and no private right of action.
A practical guide to 17 CFR Part 204, the SEC’s rules on debt collection, administrative offset, salary offset, tax refund offset, administrative wage garnishment, credit bureau reporting, collection services, and collection agency referrals.
A practical guide to 17 CFR Part 203, the SEC’s rules on investigations, formal investigative proceedings, subpoenas, testimony transcripts, witness rights, and information obtained in SEC investigations and examinations.
A practical guide to 17 CFR Part 202, the SEC’s rules on informal procedures, pre-filing assistance, interpretive advice, enforcement activities, cooperation, criminal referrals, Investment Company Act applications, and PCAOB review.
A practical guide to 17 CFR Part 201, the SEC Rules of Practice governing administrative proceedings, OIPs, filings, motions, subpoenas, hearings, appeals, sanctions, temporary cease-and-desist orders, disgorgement, penalties, and Fair Funds.
The CFTC's proposed CPO exemption is not a simple exit from regulation. It substitutes SEC oversight for part of the CFTC regime while creating a separate question about pools that fall outside both Form PF and Form CPO-PQR reporting.