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SEC Municipal Advisors Risk Alert and Examination Guidance

The SEC's Division of Examinations has published a Risk Alert to assist municipal advisors in understanding the examination process. The alert details potential areas of focus, selection criteria for examinations, and initial document requests.

SEC Risk Alert on Investment Company Core Areas Review

The SEC's Division of Examinations has published a Risk Alert detailing typical document requests and examination observations for registered investment companies. The alert aims to help funds and their advisers enhance their compliance programs and practices by highlighting key review areas such as compliance programs, disclosures, and governance.

SEC Risk Alert on Advisers Act Marketing Rule Compliance

The SEC's Division of Examinations issued a Risk Alert highlighting observations regarding investment advisers' compliance with the Marketing Rule. The alert focuses on disclosure requirements, oversight practices for testimonials and endorsements, and due diligence for third-party ratings.

Basel Committee Publishes Synthetic Risk Transfer Analysis Report

The Basel Committee on Banking Supervision has published a report analyzing synthetic risk transfer (SRT) transactions. The report notes that while SRTs appear more prudently structured than pre-GFC transactions, risks associated with their growing use merit continued supervisory monitoring.

NCUA Voluntary EGRPRA Review and Deregulation Project

The National Credit Union Administration (NCUA) has initiated a voluntary review of its regulations under the Economic Growth and Regulatory Paperwork Reduction Act (EGRPRA). This review, which is not statutorily required, aims to reduce regulatory burden on credit unions and will inform future regulatory changes. The comment period is open for 90 days.

FDIC Amends Guidelines for Appeals of Material Supervisory Determinations

The FDIC is amending its Guidelines for Appeals of Material Supervisory Determinations by replacing the Supervision Appeals Review Committee with a new Office of Supervisory Appeals. This office will serve as the final review level for supervisory determinations and will also expand appeal rights to certain enforcement action cases.

CFTC and SEC Sign MOU for Lawful Innovation

The CFTC and SEC have signed a Memorandum of Understanding (MOU) to enhance coordination and collaboration on lawful innovation, market integrity, and investor protection. The MOU establishes a Joint Harmonization Initiative to clarify definitions, modernize frameworks, and streamline reporting for areas of common regulatory interest, including crypto assets.

CFTC Advisory on Prediction Markets and Event Contracts

The CFTC's Division of Market Oversight issued an advisory reminding designated contract markets (DCMs) of their regulatory obligations under the Commodity Exchange Act and Commission regulations concerning the listing of event contracts. The advisory encourages innovation while emphasizing proactive compliance, particularly for sports-related event contracts.

MHRA Approves Deuruxolitinib (Leqselvi) for Severe Alopecia Areata

The UK's MHRA has approved deuruxolitinib (Leqselvi) for the treatment of severe alopecia areata in adults. This marks a new treatment option for patients and will be kept under close review for safety and effectiveness.

Canadian Sanctions Laws Overview

Blake, Cassels & Graydon LLP has published an overview of Canada's complex sanctions laws, effective March 2026. The guidance details how these laws impact Canadian businesses and foreign states, outlining prohibitions, reporting obligations, and asset blocking requirements for entities operating in or with Canada.