On July 10, 2025, the Board of Governors of the Federal Reserve System (“FRB”) issued a request for comment on proposed revisions to its large financial institution (“LFI”) supervisory rating system (the “LFI Framework”).
If finalized as proposed, the revisions would allow large depository institution holding companies with only one “Deficient-1” rating in the three
Capital Markets and Securities
The European Union aims to bolster European capital markets by reducing the regulatory burden, time, and effort for issuers and facilitating access to the capital market, particularly for small and medium-sized enterprises (SMEs), with the EU Listing Act that came into effect on December 4, 2024. The EU Listing Act introduces
Over the last several weeks, Texas, Louisiana, and Nebraska have enacted so called “baby” Foreign Agents Registration Act (“FARA”) laws aimed at regulating foreign-influenced political activity in the states. There has been a trend in state legislatures over the last year to propose laws that apply to foreign-influenced political activity, particularly in light of uncertainty
On June 22, Texas Governor Greg Abbott (R) signed the Texas Responsible AI Governance Act (“TRAIGA”) (HB 149) into law. The law, which takes effect on January 1, 2026, makes Texas the second state to enact comprehensive AI consumer protection legislation, following the 2024 enactment of the Colorado AI Act. Unlike the
On June 12, the New York legislature passed the Responsible AI Safety & Education (“RAISE”) Act (S 6953), a frontier model public safety bill that would establish safeguard, reporting, disclosure, and other requirements for large developers of frontier AI models. If signed into law by Governor Kathy Hochul (D), the RAISE Act would
Yesterday, Texas governor Greg Abbott signed into law S.B. 25, which requires food products containing any of 40+ specified ingredients to bear a warning label. This follows Texas’s enactment of S.B. 314 in late May, which prohibits Texas school districts and open-enrollment charter schools from providing free or reduced-price meals that contain any of
On 4 June 2025, the European Commission published a decision recognising 13 critical raw material projects located in non-EU countries as “Strategic Projects” under the Critical Raw Materials Act (“CRMA”, Regulation (EU) 2024/1252). This first set of Strategic Projects based outside the EU adds to the 47 Strategic Projects based within the EU announced
On May 29, 2025, the European Union established its new €150 billion defense fund through the Security Action for Europe (SAFE) regulation. The European Commission will soon launch a call for interest for SAFE loans and EU Member States will have up to two months to submit their applications.
In comparison to the
On June 3, President Donald Trump sent a package of $9.4 billion in rescissions to Congress for expedited consideration under Section 1017 of the Impoundment Control Act (ICA) of 1974. The House of Representatives reportedly plans to introduce, debate, and pass a bill to implement the President’s proposed rescissions as soon as next week. The
On April 15, President Trump issued an Executive Order titled “Lowering Drug Prices By Once Again Putting Americans First” and an accompanying “Fact Sheet: President Donald J. Trump Announces Actions to Lower Prescription Drug Prices.” The President directs a wide range of drug pricing actions, including Inflation Reduction Act (IRA) Programs,