FINANCIAL INDUSTRY AND REGULATION

Judge Rules Against Money Laundering law: The Wall Street Journal reports that an Alabama federal judge ruled the Corporate Transparency Act, a sweeping bipartisan anti-money-laundering law passed in 2021, was unconstitutional, leaving

SEC’s Uyeda Warns About Administrative Overreach: Pensions & Investments reports that the Securities and Exchange Commission’s commissioner Mark T. Uyeda warned March 5 that the SEC is significantly broadening its reach, pointing to the private fund advisers’ rule, the rule expanding the definition of a dealer, and the 

Court Asked to Strike Down Independent Contractor Rule: The DI Wire reports that a financial industry coalition filed an amended complaint Tuesday against the Department of Labor’s new independent contractor rule, which asks the court to declare the 2024 rule invalid, prohibit its implementation and allows the 2021

Narrower Climate Rule Passes SEC: InvestmentNews reports that many large public companies will eventually have to report climate-related risks under a final rule passed by the SEC today – but the requirements are significantly more limited than

Ten States Vow Climate Rule Lawsuit: Reuters reports that nine Republican-led states will file a lawsuit challenging new U.S. rules that U.S.-listed companies must

Stock Order Disclosure Rules Updated by SEC: Pensions & Investments reports that the SEC unanimously agreed Wednesday to require market venues and brokers to increase disclosures showing that they are obtaining the best prices for their customers' stock market orders on a timely basis, marking the first update to such

FINRA Issues Cybersecurity Advisory: Wealth Management reports that the Financial Industry Regulatory Authority published a cybersecurity advisory to warn member firms of continuing social engineering campaigns involving fraudulent

POLICY AND LEGISLATION

Senators Introduce E-Delivery Bill: ThinkAdvsior reports that Sens. John Hickenlooper (D-CO) and Thom Tillis (R-NC) last week introduced a bill requiring the SEC to write a rule allowing financial firms to deliver their documents in digital format. The House Financial Services Committee passed companion legislation, H.R. 1807,

New FY 2025 House Budget Proposed: ThinkAdvisor reports that the House Budget Committee Wednesday released its fiscal 2025 budget, which includes a bipartisan fiscal commission to examine “fast tracking” potential cuts to Social

Congress Set to Pass Six Spending Bills to Avert Shutdown: The Wall Street Journal reports that lawmakers are set to pass a package of six spending bills to fund a major swath of the federal government and avoid a partial shutdown this weekend, setting the stage for final negotiations over the rest of the year’s budget after months

Biden Proposes Higher Taxes: InvestmentNews reports that President Biden is asking Congress to increase the minimum tax rates paid by major U.S. and multinational corporations to 21%, eliminate breaks for companies with high-paid executives, raise the corporate tax rate to 28%, boost taxes on U.S. companies’ foreign profits, and quadruple the tax companies must pay when they buy back their