North America: Finance and Banking

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Finance law and banking law thought leadership, articles, podcasts, videos and webinars from expert sources across the legal world. Explore insights covering topics such as capital adequacy, BASEL, acquisition finance, debt capital markets, fund finance, islamic finance, securitization and structured finance.
Article
New NYSE Delisting Rules: What Microcap Companies Need To Know About The $0.25 Minimum Trading Price
The SEC has approved new NYSE and NYSE American listing rules establishing a $0.25 minimum trading price, effective July 1, 2027. A single closing price below this threshold triggers immediate trading suspension and delisting proceedings with no cure period. Companies trading at low share prices must act now during the transition period to implement reverse stock splits and establish monitoring procedures before this hard floor takes effect.
United States Finance
B
Bevilacqua
Article
The SEC Proposes A Rule-Based Exit From Investment-Contract Treatment
The SEC's proposed Regulation Crypto Assets introduces two new exemptions for token offerings and establishes a novel filing mechanism through Form TR that would allow issuers to formally declare when promised managerial efforts have ended. While the proposal offers a path toward regulatory certainty for crypto assets transitioning out of investment contract treatment, its effectiveness will depend on whether market participants embrace a framework that requires detailed disclosures, ongoing reporting oblig
United States Finance
GU
Gesmer Updegrove LLP
Article
Can A Trust Or An Agreement Be A “Company” Under The Bank Holding Company Act?
The Federal Reserve has established a four-part safe harbor for determining when voting trusts, buy-sell agreements, and similar shareholder arrangements will not be treated as a "company" under the Bank Holding Company Act. Understanding these requirements is critical for structuring governance arrangements that avoid unintended regulatory consequences, particularly regarding termination provisions that override state perpetuity laws.
United States Finance
DM
Duane Morris LLP
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Related Country Guides

AR
Asset Recovery
AI
Alternative Investment Funds
PF
Project Finance
SL
Secured Lending
BR
Banking Regulation

Commodities/Derivatives/Stock Exchanges

Article
CFTC Publishes Its 2026 Regulatory Priorities Agenda
The CFTC has released its 2026 regulatory priorities agenda under new Chairman Michael Selig, outlining significant proposed changes to commodity pool operator exemptions, large trader reporting requirements, and foreign exchange product classifications. Asset managers participating in commodities and derivatives markets will need to understand how these regulatory modifications may affect their registration obligations, reporting burdens, and treatment of various financial instruments.
United States Finance
D
Dechert
Article
Howey's Cryptonite: A Deep Dive On Digital Asset Classification—Part I
The SEC and CFTC have issued a joint interpretive release establishing a securities taxonomy for crypto-assets, classifying them into five categories: digital commodities, digital collectibles, digital tools, stablecoins, and digital securities. This groundbreaking guidance identifies specific crypto-assets like Bitcoin, Ether, and Solana as digital commodities rather than securities, marking a significant shift from the SEC's previous regulation-by-enforcement approach.
United States Finance
KG
K&L Gates LLP
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Securitization & Structured Finance

Article
To Be Or Not To Be An ABS: What Next For Data Center Finance?
The SEC's recent interpretive guidance confirms that certain data center securitizations fall outside the definition of "asset-backed security" under the Securities Exchange Act, removing several ABS-specific regulatory requirements. This analysis explores the practical implications for risk retention, investor protections, existing master trust platforms, and the future structuring of data center financings in light of this regulatory shift.
United States Finance
HL
Hogan Lovells Cadwalader
Article
Sponsored Repo And US Treasury Central Clearing – What The Buy-side Needs To Know
The US Treasury repo market faces a fundamental transformation as SEC rules mandate central clearing for most Treasury repurchase transactions by June 2027. This regulatory shift is accelerating buy-side adoption of "sponsored repo" arrangements, requiring firms to navigate new operational frameworks, documentation requirements, and clearing relationships. Understanding the mechanics of sponsored membership and preparing for compliance will be critical for buy-side participants seeking to maintain efficient
United States Finance
M
Macfarlanes LLP
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Debt Capital Markets

Article
Bermuda Stock Exchange Streamlines Listing Process For Programme Securities
The Bermuda Stock Exchange has introduced a streamlined listing process for securities issued under previously approved debt or insurance-linked securities programmes, reducing approval timelines and administrative requirements. The updates include expedited next-business-day approvals and new abridged application forms designed to minimize duplication of information already contained in approved programme documentation.
Bermuda Finance
W
Walkers
Article
SEC Exemptive Order Expands Availability Of Shorter Debt Tender Offer Periods
The SEC's Division of Corporation Finance has issued a new exemptive order that significantly reduces the minimum offering period for certain tender and exchange offers involving non-convertible debt securities from 20 business days to just five business days. This order supersedes previous guidance and establishes new conditions under which issuers and their wholly-owned subsidiaries can conduct abbreviated debt tender offers.
United States Finance
HL
Hogan Lovells Cadwalader
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Financial Services

Article
The SEC Proposes A Rule-Based Exit From Investment-Contract Treatment
The SEC's proposed Regulation Crypto Assets introduces two new exemptions for token offerings and establishes a novel filing mechanism through Form TR that would allow issuers to formally declare when promised managerial efforts have ended. While the proposal offers a path toward regulatory certainty for crypto assets transitioning out of investment contract treatment, its effectiveness will depend on whether market participants embrace a framework that requires detailed disclosures, ongoing reporting oblig
United States Finance
GU
Gesmer Updegrove LLP
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Latest Videos

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