United States: Securities

On November 17, the SEC Division of Examinations released its Fiscal Year 2026 Examination Priorities, outlining the key topics that the Division plans to focus on during the fiscal year ending September 30, 2026.

On December 3, 2025, the Securities and Exchange Commission (the "SEC") announced that it was providing a second temporary exemption from compliance with Rule 13f-2, the short sale reporting rule, and related Form SHO and Rule 10c-1a.

The federal government has launched one of the most ambitious scientific initiatives in decades, and it will redefine how companies develop technology, manage risk, and compete.

A coordinated blanket order consists of harmonized local exemption orders issued by each CSA jurisdiction. Accordingly, the Blanket Order is intended to be adopted nationally to create a uniform, temporary exemption regime across Canada.

On May 16, 2024, the U.S. Securities and Exchange Commission issued a final rule amending Regulation S-P, to make it more protective of an affected individual's nonpublic information.

The revisions take effect immediately and were published in the Federal Register on December 3, 2025. Notably, in her announcement, Acting Chairman Pham acknowledged the "nearly boundless discretion" the CFTC has "to investigate and prosecute violations of the law, and [to impose] sanctions and penalties that are rarely challenged."

On November 19, 2025, Judge John H. Chun of the United States District Court for the Western District of Washington pared the allegations in a putative class action asserting claims...

On November 17, 2025, the SEC's Division of Examinations released its 2026 Examination Priorities ("Priorities").

On 17 November 2025, the Division of Corporation Finance (the Division) of the US Securities and Exchange Commission (the SEC) issued a statement announcing that it will not respond to or express views on most no-action requests from companies seeking to exclude shareholder proposals from their proxy materials pursuant to Rule 14a-8 of the Securities Exchange Act of 1934.