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Financial services

Every story on LexCircuit filed under financial services: court orders, regulation, ethics opinions, litigation and research, each summarized across its sources.

112 stories

UKPeople moves

Gibson Dunn set to hire Weil's roughly 40-lawyer London private funds team

Gibson Dunn is set to hire Weil, Gotshal & Manges' London private funds team, led by co-heads James Bromley and James Sargent, with six more partners and about 30 counsel and associates expected to follow. The move comes as Weil's management has recommended winding down the firm, though talks with the funds team reportedly ran for more than a year. Gibson Dunn declined to comment.

Announcement (Law.com International) → · Legal Business, Non-Billable, Law360
UK · EWHCCourt order

High Court voids assignment of £11 million claim to company part-owned by advising solicitors

The High Court of England and Wales ruled on October 27, 2026, that solicitors cannot avoid the common-law bar on acquiring clients' claims by transferring them to a company in which they hold shares. Master Sullivan held invalid the assignment of an £11 million loan claim to MSV Estates, whose directors had advised the original claimant, and said the rule applies before proceedings begin.

Order (ICLG) → · High Court (King's Bench Division)
U.S. FEDProduct launches

Latham partners with Harvey to build AI fund formation product

Latham & Watkins is working with Harvey to develop an AI-enabled fund formation product that will sit as a separate offering within Harvey's suite, the firm said on October 27, 2026. Targeting side letters, subscription documents and limited partnership agreements, the tool could later be marketed to other firms, though without Latham's market intelligence. There is no release date.

Announcement (Law.com) → · Legal Business
N.Y.People moves

Skadden hires Weil SEC veterans Andrew Dean and Christopher Mulligan

Skadden, Arps, Slate, Meagher & Flom has hired Weil, Gotshal & Manges partners Andrew Dean and Christopher Mulligan, both former Securities and Exchange Commission officials. Dean, a former co-head of the SEC Enforcement Division's asset management unit, joins Skadden's white collar and investigations group in New York. Mulligan, a former senior adviser in the SEC's Division of Examinations, joins its investment management group in Washington.

Announcement (The American Lawyer) → · Bloomberg Law, Global Legal Post
8TH CIR.Court order

Eighth Circuit upholds vacatur of Federal Reserve's debit card swipe fee cap

The U.S. Court of Appeals for the Eighth Circuit on October 26, 2026, affirmed a ruling that struck down the Federal Reserve's 21-cent cap on debit card interchange fees, finding the Fed improperly let banks count costs not tied to individual transactions, such as fraud prevention. The Fed must now write a fee structure that reflects the incremental-cost standard Congress set in the 2010 Dodd-Frank Act.

Order (Bloomberg Law) → · American Banker
UK · CATBreaches and incidents

Litigation Capital Management disputes termination of its funding deal for a CAT collective action

Litigation Capital Management, the AIM-listed dispute funder, said on October 23, 2026 that a funded party has served notice terminating a litigation funding agreement for a collective action before the UK Competition Appeal Tribunal, alleging LCM breached the agreement. LCM disputes the termination, has hired lawyers and is weighing options with its capital providers. The funder has A$2.7 million of its own capital in the case, and its shares fell more than 40%.

Report (RNS via ADVFN) → · Proactive Investors

Rulings this week

All court orders

UK · EWCOPCourt order

Court of Protection makes Irwin Mitchell trust company repay 60% of client's claim to keep deputyship

The Court of Protection ruled on October 20, 2026, that Irwin Mitchell Trust Corporation can keep acting as property and affairs deputy for a protected person, PW, only if it repays into her estate a sum equal to 60% of her potential compensation claim. A 2024 judgment found the trust company breached the self-dealing rule by appointing Irwin Mitchell's own asset management arm to invest her money.

Order (Solicitors Journal) → · Legal Futures
U.S. FEDRegulation

Executive order waives Graham Act sanctions, restrictions and duties on Russia before October 18 start

President Donald Trump signed an executive order on October 16, 2026 implementing the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 and waiving its duties, sanctions and restrictions. The order stated duty increases of 500 percent on Russian goods and 100 percent on goods from top importers of Russian oil and gas and top sanctions-evasion facilitators, then waived those duties under section 115 after certifying the waiver was in the national interests of the United States.

Text (The White House) → · Okay News, New Kerala
UKFunding

Lawfront swings to £2.1 million loss as interest costs double amid acquisitions

Lawfront Holdings, the private equity-backed UK law firm consolidator, made a £2.1 million loss in the year to March 31, 2026, after a £1.5 million profit the year before, according to newly filed accounts reported by the Law Gazette and Law360. Interest payments more than doubled to about £13.8 million as the group borrowed more to fund acquisitions; turnover now stands at about £129 million.

Announcement (Law Gazette) → · Law360
TEX.People moves

Ashurst Perkins Coie hires Bracewell energy lawyer Tamara McKinzie in Houston

Ashurst Perkins Coie has hired energy and finance lawyer Tamara L. McKinzie from Bracewell in Houston, even though the firm has no office in the city, Bloomberg Law reported on October 15, 2026, citing two people familiar with the situation. One source said the firm, formed in the June merger of Ashurst and Perkins Coie, is eyeing more Houston hires with energy and mining expertise.

Announcement (Bloomberg Law) → · The Lawyer
D. MASS.Litigation

Ex-Big Law associate charged with insider trading seeks subpoenas to his former firms

Nicolo Nourafchan, a former Big Law associate charged in a federal insider trading case, filed a motion on October 14, 2026, in Massachusetts federal court seeking subpoenas to three law firms where he previously worked, Bloomberg Law and Law.com reported. The motion redacts the firms' names; both outlets identified them as Sidley Austin, Latham & Watkins and Goodwin Procter.

Filing (Bloomberg Law) → · Law.com, The Lawyer
MASS.People moves

Womble Bond Dickinson adds five-lawyer K&L Gates financial services litigation team

Womble Bond Dickinson on October 15, 2026 added a five-lawyer financial services litigation team from K&L Gates, Bloomberg Law and Law.com reported. Partners Jeffrey Patterson, Ryan Tosi and Phoebe Winder joined the Boston office, with associates Keith McCarthy in Boston and Reymond Yammine in New York. The firm said the hire accelerates its firmwide financial services platform in New England.

Announcement (Bloomberg Law) → · Law.com, Womble Bond Dickinson
D.C.People moves

Foley Hoag hires Miles & Stockbridge PE and M&A partner Brandon Cuffy in Washington

Foley Hoag on October 15, 2026 added Brandon Cuffy as a partner in its Washington, D.C. office focusing on mergers and acquisitions, private equity and private capital, Bloomberg Law and the firm reported. Cuffy joins from Miles & Stockbridge and advises sponsors, portfolio companies, searchers and founder-led businesses on buyouts, add-ons and sales.

Announcement (Bloomberg Law) → · Foley Hoag
N.Y.People moves

Hogan Lovells Cadwalader hires Macquarie fund finance legal head Christopher Thalhammer in New York

Hogan Lovells Cadwalader hired Christopher Thalhammer, who led legal work for Macquarie's global fund finance business, as a banking and loan finance partner in New York, the firm announced October 14, 2026. Law.com said the combined firm has added 12 partners since Hogan Lovells and Cadwalader, Wickersham & Taft merged at the start of July.

Announcement (Law.com) → · The Lawyer, Hogan Lovells Cadwalader, Bloomberg Law
CAL.People moves

Sidley hires Kirkland funds partner Justin Solomon to co-lead private equity funds group

Sidley Austin hired investment funds partner Justin Solomon from Kirkland & Ellis in Los Angeles to co-lead its private equity funds group with John Muno, Bloomberg Law reported October 13, 2026. Solomon spent nearly 20 years at Kirkland building practices in Los Angeles and the Bay Area, and arrives as Sidley extends a funds build that has drawn teams from several rival firms this year.

Announcement (Bloomberg Law) → · Sidley Austin
UK · UKUT (TCC)Litigation

Upper Tribunal sets February 2027 hearing on challenges to FCA motor finance redress scheme

The Upper Tribunal will hear challenges to the Financial Conduct Authority's motor finance compensation scheme from February 16 to 26, 2027, the FCA said October 13, 2026. Three lenders and consumer group Consumer Voice are challenging the scheme, which remains partially suspended. The FCA told lenders to prepare for the scheme being quashed, while a claimant firm said drivers are turning to litigation.

Filing (Financial Conduct Authority) → · Law Society Gazette, Legal Futures
HONG KONGPeople moves

Weil hires Skadden Beijing head Shu Du to launch Asia capital markets in Hong Kong

Weil, Gotshal & Manges hired Shu Du, formerly Skadden's Beijing office head and capital markets partner, to join as a Hong Kong-based Corporate partner and launch Weil's Asia Capital Markets practice, Law.com International reported October 12, 2026. The move continues Weil's Asia rebuild after closing its mainland China offices and follows the firm's rehire of private equity partner Peng Yu from Kirkland & Ellis.

Announcement (Law.com International) → · Weil, Gotshal & Manges
U.S. FEDPeople moves

DLA Piper hires Latham trio led by Jesse Sheff for capital solutions push

DLA Piper is hiring Latham & Watkins partner Jesse Sheff and counsel Seung-Ju Paik and Preeta Paragash to expand its capital solutions business as it pushes into private credit, Bloomberg Law reported October 12, 2026, citing people with knowledge of the matter. Sheff, who spent 16 years at Latham and has advised asset managers including Apollo and BlackRock, will lead the group.

Announcement (Bloomberg Law) → · Private Equity Wire
U.S. FEDFunding

Leela exits stealth with $4.6M seed for agentic AI compliance in regulated finance

Compliance startup Leela launched its agentic AI platform for U.S.-regulated financial businesses out of stealth on October 12, 2026, alongside a $4.6 million seed round co-led by Array Ventures and Female Founders Fund, Legaltech News and PYMNTS reported. Founder and CEO Preeti Krishnan, a former Davis Polk attorney, said the platform turns regulations and policies into executable workflows while keeping humans responsible for consequential decisions.

Announcement (PYMNTS) → · Legaltech News
UKPeople moves

RPC hires Kennedys' Michelle Johnston as Bristol professional and financial risk partner

RPC has hired Michelle Johnston, previously a legal director at Kennedys, as a partner in its professional and financial risk practice in Bristol, the firm announced on October 7, 2026, as reported by CDR News. RPC said Johnston has more than 20 years' experience advising and defending professionals, particularly in claims involving solicitors and barristers, and advises insurers on PI and D&O coverage.

Announcement (CDR News) → · RPC
U.S. FEDRegulation

OFAC authorizes Russian-origin diesel transactions through April 2027 under General License 135

On October 9, 2026, Treasury's Office of Foreign Assets Control issued Russia-related General License 135, authorizing transactions otherwise prohibited by the Russian Harmful Foreign Activities Sanctions Regulations and the Ukraine-/Russia-Related Sanctions Regulations that relate to the sale, delivery, offloading or importation of Russian-origin diesel fuel, including into the United States. The authorization runs through 12:01 a.m. EDT on April 7, 2027, and excludes debits to U.S. accounts of Russia's central bank, National Wealth Fund or Ministry of Finance.

Text (Office of Foreign Assets Control) → · Indian Economic Observer
UK · EWCACourt order

Court of Appeal quashes five former Barclays traders' rate-rigging convictions after Hayes ruling

The Court of Appeal of England and Wales on October 7 quashed the Libor and Euribor conspiracy-to-defraud convictions of former Barclays traders Jay Merchant, Jonathan Mathew, Alex Pabon, Philippe Moryoussef and Colin Bermingham. The appeals, referred by the Criminal Cases Review Commission, argued their juries received directions like those the UK Supreme Court found wrong when it quashed Tom Hayes's conviction in July 2025; the Serious Fraud Office did not oppose them.

Order (BBC News) → · The Independent, Criminal Cases Review Commission
N.Y.People moves

Dechert hires former CFTC official Carl Kennedy to lead commodities and derivatives

Dechert said on October 5, 2026, that Carl Kennedy has joined as a partner and head of commodities and derivatives in its financial services group in New York. Kennedy, who joins from Katten Muchin Rosenman, represents swap dealers, futures commission merchants, and market infrastructure clients, advises prediction market platforms, and previously served as senior counsel and policy advisor at the Commodity Futures Trading Commission.

Announcement (PR Newswire) → · Bloomberg Law
D.C.People moves

Squire Patton Boggs hires Womble Bond Dickinson capital markets partner Reid Avett

F. Reid Avett has joined Squire Patton Boggs as a partner in its global corporate practice in Washington, D.C., from Womble Bond Dickinson, the firm announced on October 5, 2026. Avett, a licensed CPA, advises on capital markets transactions, corporate governance, securities law compliance, shareholder matters, M&A, and stock exchange listing requirements.

Announcement (Bloomberg Law) → · Law360 Pulse
D.C.People moves

O'Melveny hires SEC enforcement lawyer D. Mark Cave as Washington partner

O'Melveny & Myers said on October 5, 2026, that D. Mark Cave has joined its white collar defense and corporate investigations practice as a partner in Washington, D.C., from the U.S. Securities and Exchange Commission's enforcement staff. Cave advises corporations, financial institutions, investment advisers, broker-dealers, executives, and boards in SEC enforcement proceedings and related regulatory matters.

Announcement (Bloomberg Law) → · Law360 Pulse
U.S.Court order

Supreme Court declines to hear Corporate Transparency Act challenges

The U.S. Supreme Court on October 5, 2026, declined to hear two cases challenging the constitutionality of the Corporate Transparency Act, the federal beneficial ownership reporting law. The petitions argued the law violates the Fourth Amendment and exceeds Congress's commerce power; the denials came in the order list on the first day of the court's 2026 term.

Order (Bloomberg Law) → · MLex, Law360 Tax Authority, National Law Journal
ILL.People moves

Sidley hires Kirkland investment funds partner Ryan McNish in Chicago

Sidley Austin said on October 5, 2026, that Ryan McNish has joined its investment funds practice as a partner in Chicago from Kirkland & Ellis. McNish structures and forms private investment funds and related general partner and management company vehicles for private equity sponsors, and Sidley said expanding its private equity fund formation capabilities is a key strategic priority.

Announcement (Law.com) → · Sidley Austin, Bloomberg Law
FLA.People moves

Carlton Fields elects Richard Choi to succeed longtime CEO Gary Sasso in 2028

Carlton Fields has elected Richard Choi, managing shareholder of its Washington, D.C., office and a veteran financial services lawyer, as its next chief executive officer, the National Law Journal and Law360 reported on October 5, 2026. Choi will succeed Gary Sasso, who has led the firm as president and CEO for two decades, on January 1, 2028.

Announcement (The National Law Journal) → · Law360 Pulse
U.S. FEDRegulation

Federal Reserve finalizes averaging of stress-test results to set capital buffer requirement

The Federal Reserve Board adopted a final rule (91 FR 62636) changing how it sets the stress capital buffer for large bank holding companies, savings and loan holding companies, U.S. intermediate holding companies of foreign banks and supervised nonbank financial companies. The buffer will use the average of the maximum common equity tier 1 declines projected in the Board's prior two annual stress tests, and its annual effective date moves from Oct. 1 to Jan. 1.

Text (Federal Register) → · ABA Banking Journal
U.S. FEDRegulation

Federal Reserve finalizes stress-test transparency rule requiring annual public comment on models and scenarios

The Federal Reserve Board on Sept. 30 adopted a final rule amending Regulations Y, LL and YY to open its annual bank stress tests to public comment. The Board will publish its stress-test models and scenarios each year, invite comment on material model changes, and respond to substantive comments before implementing them. The rule takes effect Nov. 2, 2026, under 91 FR 62870 (Oct. 2, 2026).

Text (Federal Register) → · ABA Banking Journal
U.S. FEDRegulation

SEC rewrites quorum rule so one commissioner can act when all others are disqualified

The Securities and Exchange Commission amended its quorum rule, 17 CFR 200.41, so that a single commissioner constitutes a quorum for a matter when every other commissioner in office is disqualified from it. Three commissioners otherwise remain a quorum. The SEC adopted the change without notice and comment as an agency-management rule, and it took effect Oct. 2, 2026 (91 FR 62654).

Text (Federal Register) → · CoinDesk
N.Y.People moves

Simpson Thacher hires six Weil partners for sponsor and asset-manager deals

Simpson Thacher & Bartlett said Brian Parness, Simon Saitowitz, Andrew Nichol, Corey Dietrich, and Alexander Miachika joined as partners and Charles Cooper-Isow will join, expanding asset-management M&A, GP-stakes, and secondaries work across New York and London. Nonbillable reported the six-partner Weil move on October 2, 2026, with Parness leading a Sponsor Transactions and Advisory Practice.

Announcement (Simpson Thacher) → · Nonbillable
N.Y.People moves

Wachtell moves rare lateral Joon Kim from Cleary into New York litigation

Wachtell Lipton Rosen & Katz hired former Manhattan federal prosecutor Joon Kim from Cleary Gottlieb as a New York litigation partner, Bloomberg Law, Legal Business, and Law360 Pulse reported on October 1, 2026. Kim's work includes investigations and white-collar matters. The hire follows the departure of Wachtell co-chair William Savitt and other partners to Gibson Dunn.

Announcement (Legal Business) → · Bloomberg Law, Law360 Pulse
UKPeople moves

Lloyds Banking Group names Ajneet Jassey next chief legal officer

Lloyds Banking Group appointed Ajneet Jassey as its next chief legal officer as Kate Cheetham prepares to step down at year-end after more than two decades at the bank, Legal Business reported on September 30, 2026, and The Global Legal Post followed on October 1. Jassey is currently general counsel for disputes and operations and previously worked at the Bank of England and Herbert Smith; Cheetham became CLO in 2019 after joining Lloyds TSB from Linklaters in 2005.

Announcement (Legal Business) → · The Global Legal Post
S.D. FLA.Litigation

SEC settles action against Travel + Leisure over timeshare loan portfolio disclosure omissions

The Securities and Exchange Commission filed a settled civil action in the Southern District of Florida against timeshare operator Travel + Leisure Co. over undisclosed loan rescission projects. The SEC alleges that between 2019 and 2021 the company removed more than 2,900 delinquent and defaulted timeshare loans totaling about $77 million to meet its loan loss provision guidance. Without admitting the allegations, Travel + Leisure agreed to pay a $975,000 civil penalty, subject to court approval.

Filing (U.S. District Court for the Southern District of Florida) → · U.S. Securities and Exchange Commission, Bloomberg Law, TradingView
UKPeople moves

A&O Shearman hires Stephenson Harwood secondaries partners as global co-heads

A&O Shearman hired Sarah de Ste Croix and Gabriel Boghossian from Stephenson Harwood as global co-heads of secondaries in London with their team, Global Legal Post and The Lawyer reported on September 30, 2026. They advise on continuation vehicles, LP portfolios, GP stakes, and other liquidity solutions. The firm said the hire places it among a small group of Band 1-ranked secondaries practices.

Announcement (The Lawyer) → · Law360, Global Legal Post, A&O Shearman
S.D.N.Y.Litigation

SEC sues Meyer Global Management and its CEO, alleging fraud on retail investors in pre-IPO SpaceX funds

The Securities and Exchange Commission filed a civil enforcement action in Manhattan federal court against private fund adviser Meyer Global Management LLC and its chief executive Owen Meyer. The complaint alleges defendants raised $18.5 million from retail investors seeking pre-IPO exposure to SpaceX and OpenAI, while misappropriating $1.27 million for personal expenses and causing a managed fund to forfeit a nearly $3 million SpaceX investment after failing to meet capital calls.

Filing (U.S. District Court for the Southern District of New York) → · U.S. Securities and Exchange Commission, Reuters, Fortune
U.S. FEDRegulation

Treasury and IRS issue temporary Trump Accounts regulations with automatic enrollment

The Treasury Department and the IRS issued temporary regulations (T.D. 10056), effective Sept. 30, for Trump Accounts, the tax-favored savings accounts for children under section 530A. On or about Oct. 1, Treasury will elect to open 'auto accounts' for eligible children who lack one, held in a master group trust until a guardian claims them. The rules also set requirements for qualified general contributions, including gifts of publicly traded stock.

Text (Federal Register) → · Thomson Reuters Tax & Accounting, Journal of Accountancy, Wealth Strategies Journal
U.S. FEDRegulation

OFAC issues new Cuba Sanctions Regulations implementing May executive order

OFAC published a final rule on Sept. 30 establishing new Cuba Sanctions Regulations at 31 CFR Part 516 to implement Executive Order 14404 of May 1, 2026, on repression in Cuba. The regulations prohibit all transactions barred by the order and authorize sanctions against foreign financial institutions that conduct or facilitate significant transactions for blocked persons. OFAC issued the part in abbreviated form for immediate guidance and plans a fuller set of regulations with interpretive guidance, definitions, and general licenses.

Text (Federal Register) → · Thompson Hine SmarTrade, Office of Foreign Assets Control
U.S. FEDRegulation

OFAC amends Cuban Assets Control Regulations to restrict travel and block entrepreneur accounts

OFAC published a final rule (91 FR 61741) on Sept. 30, 2026, amending the Cuban Assets Control Regulations at 31 CFR Part 515, effective that day. U.S. persons may no longer engage in indirect financial transactions with entities on the Cuba Restricted List or travel to Cuba for professional meetings or group educational trips. The rule revokes the authorization for bank accounts of independent Cuban entrepreneurs, and banks must block those funds.

Text (Federal Register) → · Thompson Hine SmarTrade, Cuba Headlines, Office of Foreign Assets Control
U.S. FEDRegulation

Treasury sets procedures for reviewing state stablecoin regimes under GENIUS Act

The Treasury Department, on behalf of the Stablecoin Certification Review Committee, issued an interim final rule on Sept. 30 setting the process and forms for state payment stablecoin regulators to certify their regimes under section 4(c) of the GENIUS Act. The committee, chaired by the Treasury Secretary with the Federal Reserve and FDIC chairs, will approve or deny certifications. None will be accepted until the information collection receives Paperwork Reduction Act approval. Comments are due Nov. 30.

Text (Federal Register) → · Forkast
CAL.Regulation

California requires assignees to name the original party in case titles

Governor Gavin Newsom signed SB 932 on September 30, 2026, adding Code of Civil Procedure section 369.6. From January 1, 2027, an assignee who has been assigned rights in a proceeding by the original real party in interest must identify that assignor and original real party in interest in the title of the case on the first document the assignee files in the proceeding.

Enrolled text (California Legislative Information) → · Office of Governor Gavin Newsom
S.D.N.Y.Litigation

SEC files twin Manhattan fraud lawsuits over alleged $15M WhatsApp AI trading schemes

The Securities and Exchange Commission filed two civil fraud actions in Manhattan federal court against Cryptoaiml and TSAI Pro entities, alleging they took more than $15 million from retail investors. The SEC alleges the defendants lured investors through WhatsApp and other platforms with fake AI trading programs, displayed fictitious profits, froze withdrawals to demand further payments, and filed Form D notices listing fictitious officers with forged notarizations.

Filing (U.S. Securities and Exchange Commission) → · Bloomberg, The Defiant, FX News Group
N.Y.People moves

Gibson Dunn hires Raymond Azar as New York power and renewables co-chair

Dr. Raymond Azar joined Gibson Dunn as a partner in its energy and infrastructure practice in New York and as co-chair of the power and renewables practice group, the firm and Bloomberg Law reported on September 29, 2026. Azar advises developers, borrowers, and lenders across renewable energy, energy transition, conventional power, oil and gas, petrochemicals, and infrastructure financings. He previously practiced at White & Case.

Announcement (Gibson Dunn) → · Bloomberg Law
AUSTRALIAPeople moves

Jones Day adds five partners in Australia across disputes, finance, energy, corporate, and IP

Jones Day hired five partners in Australia, Law.asia and Bloomberg Law reported on September 29, 2026. Dylan McKimmie joined global disputes in Brisbane from Norton Rose Fulbright; Leigh De Jong (financial markets/real estate), Christopher Flynn (energy), Lance Sacks (corporate), and Ken Saurajen (intellectual property) joined in Sydney from MinterEllison, Gilbert + Tobin, Baker McKenzie, and Clayton Utz respectively. Jones Day said it has added 10 lateral partners in Australia in 2026.

Announcement (Law.asia) → · Bloomberg Law, Jones Day
NEB.Roundup

Law roundup: seven FAA airworthiness directives, IRS and HUD fee changes, Nebraska harvest weight relief

Sixteen federal rules and notices published September 24 to 28, plus one Nebraska executive order. They include seven FAA airworthiness directives and new IFR altitudes, an IRS estate tax closing letter fee rising from $56 to $76, a 1.05% HUD Section 108 guarantee fee for fiscal 2027, PHMSA's adoption of ASME Section XII for transport tanks, FTC rules of practice changes, and Nebraska's 90-day, permit-free 25% weight allowance for harvest haulers.

Entries (State of Nebraska, Office of the Governor) → · Federal Register
HONG KONGPeople moves

Wilson Sonsini hires capital markets partner Jennifer Liu in Hong Kong

Wilson Sonsini Goodrich & Rosati hired Jennifer Liu as a China partner in its Hong Kong office, Law.asia reported on September 28, 2026. Liu advises corporate and investment banking clients on Hong Kong and U.S. IPOs and follow-on equity and debt offerings across healthcare, life sciences, technology, consumer products, and financial services. She joins from Morgan Stanley, after earlier serving as counsel at Davis Polk in Hong Kong.

Announcement (Law.asia) → · Wilson Sonsini
CAL.Regulation

California bars public officers from issuing meme coins and restricts official-linked listings

Governor Gavin Newsom signed AB 2409 on September 27, 2026. It bars state and local public officers, and public employees with bid or contract decision authority, from issuing meme coins. Digital asset service providers may not list, for California residents, meme coins issued on or after January 1, 2027 that are offered by or with a federal official or a state or local officer. The Attorney General, district attorneys, city attorneys and county counsel may sue for injunctions and disgorgement.

Enrolled text (California Legislative Information) → · Office of the Governor
6TH CIR.Court order

Sixth Circuit rules states can regulate Kalshi sports event contracts, finding CEA does not preempt state gambling laws

A unanimous Sixth Circuit panel ruled that state regulators in Ohio and Tennessee can enforce gambling laws against Kalshi's sports prediction markets. Judge Gibbons wrote that Kalshi failed to prove event contracts are statutory swaps under CFTC exclusive jurisdiction, and alternatively held the Commodity Exchange Act does not preempt state gaming statutes. The court affirmed denial of an Ohio injunction and vacated Tennessee injunctive relief.

Order (U.S. Court of Appeals for the Sixth Circuit) → · Courthouse News Service, CoinDesk, Unchained
D. OR.Court order

Oregon federal judge vacates CFPB defunding decisions, declaring Vought funding cutoff unlawful

U.S. District Judge Ann Aiken granted partial summary judgment on Friday to twenty-two state attorneys general challenging the Consumer Financial Protection Bureau's refusal to request operating funds from the Federal Reserve. The court held that former Acting Director Russell Vought's decision to defund the agency violated the Dodd-Frank Act and the separation of powers. Judge Aiken vacated the defunding decisions and declared the Federal Reserve must transfer the funds the director deems necessary, declining injunctive relief for fiscal 2026.

Opinion (U.S. District Court for the District of Oregon) → · Courthouse News Service, State of California - Department of Justice - Office of the Attorney General, Law360
ILL.People moves

Mayer Brown hires Sidley insurance deals partner John Grothaus in Chicago

John Grothaus joined Mayer Brown as a partner in its corporate & securities and global insurance practices in Chicago, Bloomberg Law reported on September 25, 2026. He advises insurers, financial services and private equity clients on M&A, capital raises, reinsurance and insurance financings, with a focus on life insurance and Asia-Pacific outbound reinsurance. He joins from Sidley Austin.

Announcement (Bloomberg Law) → · Mayer Brown
UKRegulation

DWP fiduciary-duty chair says forthcoming guidance should help trustees make best decisions, not least challengeable ones

Sir Robin Knowles, chair of the Department for Work and Pensions technical working group on fiduciary duty, told a Society of Pensions Professionals conference that forthcoming guidance should give trustees confidence to make the best long-term decisions rather than those least open to challenge. A public consultation is expected later in 2026. The Society of Pensions Professionals said the guidance now appears likely to be non-statutory, though Knowles said industry-led guidance would still carry weight with regulators and courts.

Text (Pensions Expert) → · Solicitors Journal
N.Y.People moves

Weil rehires Willkie restructuring co-chair Debra Sinclair as partner

Weil, Gotshal & Manges is bringing back Debra M. Sinclair as a partner in its U.S. restructuring practice, the Wall Street Journal and Bloomberg Law reported on September 24, 2026. Sinclair, co-chair of Willkie Farr & Gallagher’s strategic capital and restructuring department, began her career at Weil in 2013 and is expected to return in the coming weeks. At Willkie she led matters including the Saks Global chapter 11 restructuring, WSJ said, amid leadership changes at both firms.

Announcement (The Wall Street Journal) → · Bloomberg Law
N.Y.People moves

O'Melveny hires Linklaters restructuring partner Penelope Jensen in New York

O'Melveny & Myers hired Penelope Jensen as a New York bankruptcy and restructuring partner from Linklaters, Bloomberg Law and the New York Law Journal reported on September 24, 2026. Jensen advises creditors and lenders in chapter 11, chapter 15 and out-of-court restructurings. She is O'Melveny’s second New York restructuring partner addition in September after David Botter joined from Cleary Gottlieb.

Announcement (Bloomberg Law) → · New York Law Journal
CAL.Funding

Massumi + Consoli launches Trive-backed ElevenHundred+ MSO, hires Glusky

Los Angeles private equity boutique Massumi + Consoli on September 24, 2026 announced ElevenHundred+, a management services organization backed by Dallas private equity firm Trive Capital, Law.com and a firm Business Wire release reported. The MSO will build technology and operational infrastructure and offer equity incentives aimed at lateral recruiting. Former Sheppard Mullin executive-committee member and firmwide lateral recruitment lead Shon Glusky joined as a New York partner and chief strategy officer.

Announcement (Business Wire) → · Law.com / The American Lawyer
U.S. FEDCourt order

District of Minnesota approves settlement ending state usury suit against online lender Plain Green

U.S. District Judge Jeffrey M. Bryan approved a settlement agreement between Minnesota Attorney General Keith Ellison and officials of tribal online lender Plain Green on September 23, 2026. The order resolves federal litigation alleging Plain Green charged Minnesota borrowers annual interest rates approaching seven hundred percent, exceeding state rate caps. Plain Green cancelled all interest on existing loans, credited prior payments toward principal, and agreed to stop marketing or making loans in Minnesota unless it complies with state lending law.

Order (U.S. District Court for the District of Minnesota) → · Minnesota Attorney General's Office, Red Lake Nation News, Ingstad Media +1
N.Y.People moves

Mayer Brown hires White & Case leveraged finance partner Kerrick Seay in New York

Kerrick Seay joined Mayer Brown as a partner in its global leveraged finance and private capital group in New York from White & Case, Bloomberg Law reported on September 23, 2026. His practice covers syndicated lending, private credit, restructuring-related financings, and liability-management exercises for financial institutions and direct lenders.

Announcement (Bloomberg Law) → · New York Law Journal
UKPeople moves

Clifford Chance rehires Paul Weiss leveraged finance partners Hassan and Menendez

Clifford Chance said on September 23, 2026 it is bringing back leveraged finance partners Taner Hassan and Silvia Menendez from Paul, Weiss, Rifkind, Wharton & Garrison, Law.com International, Law360 and Non-Billable reported. Hassan, formerly Paul Weiss’s European leveraged finance head, will be based in London; Menendez will work across London and Madrid. The firm said the pair are its eighth and ninth private capital lateral partner hires this year.

Announcement (Law.com International) → · Law360, Non-Billable
N.Y.People moves

Paul Weiss adds Weil PE co-head Christopher Machera and five-lawyer transactional team in New York

Paul, Weiss expanded its private equity practice with a six-lawyer transactional team led by Christopher Machera, who joined as a New York partner in the Private Equity M&A Group from Weil Gotshal & Manges, where he co-headed private equity, Pulse2 and Law360 Pulse reported on September 22, 2026. Timothy Burns, Noah Beck, Amanda Rotkel, Andrew Lawson, and Dylan Hans are expected to join in the coming weeks across PE M&A, tax, and executive compensation.

Announcement (Pulse2) → · Law360 Pulse, Paul, Weiss
N.Y.People moves

Milbank adds former O’Melveny tax chair Alex Anderson as New York partner

Milbank LLP announced on September 22, 2026 that Alex Anderson joined its New York Tax Group as a partner from O’Melveny & Myers, where he had chaired the tax practice, International Tax Review and Pulse2 reported. Anderson’s practice covers U.S. federal income tax in restructurings, financings, securitizations, M&A, fund formation, and entertainment and media transactions.

Announcement (International Tax Review) → · Milbank, Pulse2
N.Y.People moves

Willkie adds Kirkland private funds partner Shreyas Jhaveri in New York asset management

Shreyas Jhaveri joined Willkie Farr & Gallagher as a New York partner in its Asset Management Department from Kirkland & Ellis, Bloomberg Law reported on September 22, 2026 and Global Legal Insights followed on September 23. His practice focuses on private fund formation and operations with an emphasis on private credit, managed accounts, and secondaries; Willkie private funds chair Phil Isom highlighted his credit-fund experience.

Announcement (Bloomberg Law) → · Global Legal Insights, Willkie Farr & Gallagher
CAL.Regulation

California keeps securities fee schedule funding the Financial Protection Fund

AB 2795 (Chapter 410), approved September 20, restated Corporations Code Section 25608, the fee schedule the Commissioner of Financial Protection and Innovation charges for securities filings, broker-dealer and investment adviser certificates, examinations, and hearings. All fees collected under the section go to the Financial Protection Fund.

Enrolled text (California Legislative Information) → · Governor of California
CAL.Regulation

California makes financial-institution staff mandated reporters of elder financial abuse

AB 871 (Chapter 360), signed September 20, makes every officer and employee of a financial institution a mandated reporter of suspected financial abuse of an elder or dependent adult. Reports go immediately by phone or confidential internet tool, and in writing within two working days, to adult protective services or law enforcement, plus a report to the FBI Internet Crime Complaint Center. Institutions face civil penalties up to $1,000, or $5,000 if willful. The duties take effect January 1, 2028.

Enrolled text (California Legislative Information) → · Governor of California
N.Y.People moves

Debevoise adds Abigail Lane as New York executive compensation and benefits partner

Debevoise & Plimpton hired Abigail Lane as a partner in its New York Executive Compensation & Benefits Group, the firm said on September 22, 2026, with Bloomberg Law confirming the move. Lane advises private equity sponsors, portfolio companies, and public companies on executive compensation, governance, and disclosure, including management equity programs and executive transitions.

Announcement (Debevoise & Plimpton) → · PR Newswire, Bloomberg Law
D.C.People moves

Mayer Brown hires former Fed senior special counsel Andrew Hartlage for DC public policy practice

Andrew Hartlage joined Mayer Brown as a partner in its Public Policy, Regulatory & Government Affairs practice in Washington, D.C., the firm announced on September 21, 2026. He brings more than 13 years of financial services policy experience, most recently as senior special counsel in the Federal Reserve Board Legal Division, and was lately on assignment to the House Financial Services Committee staff.

Announcement (Pulse2) → · Mayer Brown
UKPeople moves

Debevoise hires Freshfields global secondaries co-head Mary Lavelle in London

Debevoise & Plimpton hired Mary Lavelle, Freshfields’ global co-head of private funds and secondaries, as a London partner in its Private Fund Transactions and Investment Management groups, the firm said on September 21, 2026. Law.com, Real Deals, and Nonbillable reported she will advise on continuation vehicles, LP portfolio sales, co-investments, and recapitalizations after joining Freshfields from Akin in 2024.

Announcement (Debevoise & Plimpton) → · Law.com International, Real Deals, Nonbillable +1
U.S. FEDRegulation

Trump signs Graham sanctions act authorizing up to 500% tariffs on Russian imports

President Donald Trump signed H.R. 5334, the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026, on September 18. The law authorizes tariffs of up to 500% on Russian goods and up to 100% on goods from leading buyers of Russian oil and gas, bans U.S. purchases of Russian sovereign debt, and extends the Iran Sanctions Act of 1996 to 2031, with tariff decisions due 30 days after enactment.

Enrolled text (GovInfo (U.S. Government Publishing Office)) → · The White House, New York Post, The Fuse +1
UKBreaches and incidents

FCA bans former Kingly Solicitors manager Nurul Miah from financial services

On September 15, 2026 the UK Financial Conduct Authority banned Nurul Miah (also known as Neil Mia/Neil Miah), a former non-legal manager at Kingly Solicitors Limited, from working in financial services. The ban follows Solicitors Regulation Authority findings that he dishonestly caused or allowed more than £28 million to be taken from client accounts and that more than £10 million of client money was missing and used for his benefit.

Report (Financial Conduct Authority) → · Law Gazette
U.S. FEDRegulation

CFTC finalizes 30% whistleblower award presumption for awards up to $5 million

The Commodity Futures Trading Commission approved a final rule on September 11, 2026 establishing a rebuttable presumption that whistleblower awards of $5 million or less will be 30 percent of the monetary sanctions collected. The presumption is subject to Commission discretion and its analysis of the relevant factors. The rule, published September 16, 2026 at 91 FR 58576, takes effect October 16, 2026.

Enrolled text (GovInfo (Federal Register)) → · Crowdfund Insider
SAUDI ARABIAFunding

Saudi IPO-readiness startup IDRAJ raises SAR 2.25M pre-seed led by ASAP Legal Tech

Saudi AI startup IDRAJ closed a SAR 2.25 million pre-seed round led by ASAP Legal Tech, about $598,000, to expand its team and build tools for corporate IPO and listing readiness. Founded in 2026 by Kholoud Al Saleh, the company said the product assesses listing readiness, analyses regulatory requirements and organizes documentation for Main Market and Nomu listings.

Announcement (entARABI) → · MENA Startup Digest, Khalf El Hadth