General Litigation Sidley Update

UK Competition and Markets Authority Issues £4.2M Fine and Orders £760k of Refunds for Drip Pricing

Mon, 20 Apr 2026 05:00:00 Z

Regulatory Update: National Association of Insurance Commissioners Spring 2026 National Meeting

Mon, 13 Apr 2026 05:00:00 Z

The National Association of Insurance Commissioners (NAIC) held its Spring 2026 National Meeting (Spring Meeting) March 22–25, 2026. This Sidley Update summarizes the highlights from this meeting in addition to interim meetings held in lieu of taking place during the Spring Meeting. Highlights include progress on addressing regulatory concerns related to indexed annuity illustrations, establishment of a new working group on market conduct modernization, exposure of a risk-based capital (RBC) adjustment framework for collateral loans, a Securities Valuation Office (SVO) report on resource strain caused by increased Private Letter Rating filings, multiple revisions to statements of statutory accounting principles (including guidance on sale-leasebacks, repurchase agreements and residential mortgage loans held in statutory trusts, and proposed disclosures for funding agreement-backed financing programs), and updates on the pilot phase of the AI Systems Evaluation Tool.

Generative AI in Discovery: Protective Orders as an Emerging Point of Dispute

Mon, 06 Apr 2026 05:00:00 Z

Out With the New, In With the Old: The “Five-Part Test” Rides Again

Mon, 30 Mar 2026 05:00:00 Z

U.S. Supreme Court Clarifies Standard for Contributory Copyright Liability

Fri, 27 Mar 2026 05:00:00 Z

New U.S. DOJ Antitrust Leadership Signals More Criminal Prosecutions and Longer Prison Sentences

Fri, 06 Mar 2026 06:00:00 Z

Notable Cases and Events in eDiscovery

Fri, 06 Mar 2026 06:00:00 Z

£473k Fine for Failing to Respond to UK Competition and Markets Authority Information Notice

Tue, 17 Feb 2026 06:00:00 Z

U.S. FTC Signals Renewed Interest in “Click-to-Cancel” Rulemaking

Mon, 09 Feb 2026 06:00:00 Z

Anderson v. Intel – U.S. Supreme Court Grants Certiorari: Implications for ERISA “Excessive Fee” Litigation

Mon, 26 Jan 2026 06:00:00 Z

New U.S. Executive Order Targets Stock Buybacks, Dividends, and Executive Compensation for Underperforming Defense Contractors

Fri, 09 Jan 2026 06:00:00 Z

The Comprehensive Outbound Investment National Security Act of 2025 Updates the U.S. Outbound Investment Regime: Key Takeaways

Thu, 08 Jan 2026 06:00:00 Z

Treasury Clarifies Outbound Investment Regulations with New FAQs on Publicly Traded Securities and the COINS Act

Thu, 08 Jan 2026 06:00:00 Z

Regulatory Update: National Association of Insurance Commissioners Fall 2025 National Meeting

Tue, 23 Dec 2025 06:00:00 Z

The National Association of Insurance Commissioners (NAIC) held its Fall 2025 National Meeting (Fall Meeting) December 8–11, 2025. This Sidley Update summarizes the highlights from this meeting in addition to interim meetings held in lieu of taking place during the Fall Meeting. Highlights include evaluation of insurers’ use of funding-agreement-backed note (FABN) and funding-agreement-backed securities (FABS) programs, adoption of guidance regarding the risk transfer analysis for combination reinsurance contracts, discussion of a new committee structure for NAIC investment monitoring activities, and consideration of additional regulatory frameworks to address insurers’ use of artificial intelligence (AI).

English High Court Finds BHP Liable in Landmark £36 Billion Fundão Dam Litigation

Wed, 10 Dec 2025 06:00:00 Z

SFDR 2.0: Five Key Takeaways From the European Commission’s Proposal for Revising the EU Sustainable Finance Disclosure Regulation

Wed, 26 Nov 2025 06:00:00 Z

UK ESG Ratings Providers – Near Final Legislation (November 2025)

Thu, 06 Nov 2025 06:00:00 Z

In this Sidley Update, we analyse and discuss the UK government’s updated draft legislation on the regulation ESG ratings providers. We explore the key regulatory definitions relating to the provision of ESG ratings, the territorial scope of the draft legislation, and a number of notable proposed exclusions. We also compare the draft legislation with the equivalent EU ESG Ratings Regulation.

Notable Cases and Events in eDiscovery

Thu, 16 Oct 2025 05:00:00 Z

UK Quarterly Employment Update (October 2025)

Tue, 14 Oct 2025 05:00:00 Z

SEC Changes Its Policy on Mandatory Arbitration Clauses: Considerations for Issuers and Others

Wed, 01 Oct 2025 05:00:00 Z

Paths Forward in the Wake of FDA’s “Crackdown” on Prescription Drug Ads

Fri, 26 Sep 2025 05:00:00 Z

Notable Cases and Events in eDiscovery

Tue, 09 Sep 2025 05:00:00 Z

UK/EU Investment Management Update (September 2025)

Tue, 09 Sep 2025 05:00:00 Z

In this Sidley Update we cover, on the UK side, Financial Conduct Authority (FCA) enforcement actions for insider dealing and investment fraud, the FCA’s latest Investment Firms Prudential Regime (IFPR) newsletter, FCA multi-firm reviews covering conflicts of interest, market abuse, and off-channel communications, and HM Treasury’s proposed reforms to the Appointed Representatives (AR) regime.

On the EU side, we cover the European Securities and Markets Authority (ESMA) summary of EU national provisions on fund marketing, final regulatory technical standards on market abuse under the Markets in Crypto-Assets Regulation (MiCA), and the European Systemic Risk Board (ESRB) non-bank financial intermediation (NBFI) risk monitor report.

Regulatory Update: National Association of Insurance Commissioners Summer 2025 National Meeting

Mon, 08 Sep 2025 05:00:00 Z

The National Association of Insurance Commissioners (NAIC) held its Summer 2025 National Meeting (Summer Meeting) August 10–13, 2025. This Sidley Update summarizes the highlights from this meeting in addition to interim meetings held in lieu of taking place during the Summer Meeting. Highlights include adoption of guidance on asset adequacy testing for reinsurance transactions, renewed focus on the risks of offshore reinsurance transactions, evaluation of insurers’ use of funding-agreement-backed note (FABN) and funding-agreement-backed securities (FABS) programs, and consideration of additional regulatory frameworks to address insurers’ use of artificial intelligence (AI).

Notable Cases and Events in eDiscovery

Mon, 11 Aug 2025 05:00:00 Z

UK/EU Investment Management Update (August 2025)

Wed, 06 Aug 2025 05:00:00 Z

In this Sidley Update we cover, on the UK side, a discussion of the Leeds Reforms and related UK government plans for the financial services sector, consultation papers from the Financial Conduct Authority (FCA) on the Senior Managers and Certification Regime (SMCR), the Systematic Internaliser (SI) regime for bonds and derivatives and the transparency regime for equities, and significant enforcement actions relating to financial crime, lack of integrity, and crypto.

On the EU side, we cover a European Commission (Commission) proposal to amend the Solvency II Directive (Solvency II), updates on the EU Corporate Sustainability Reporting Directive (CSRD), the EU Taxonomy Regulation and related instruments, and a statement from the European Securities and Markets Authority (ESMA) regarding unregulated crypto products. We also discuss the latest report from the Financial Stability Board (FSB) on leverage in nonbank financial intermediation (NBFI).

U.S. FTC Click-to-Cancel Rule Struck Down

Thu, 17 Jul 2025 05:00:00 Z

U.S. Outbound Investment Regulations: Lessons and Takeaways Six Months In

Mon, 14 Jul 2025 05:00:00 Z

UK/EU Investment Management Update (July 2025)

Tue, 08 Jul 2025 05:00:00 Z

In this Sidley Update we cover, on the UK side, new rules and guidance from the Financial Conduct Authority (FCA) on non-financial misconduct, significant enforcement actions including an Upper Tribunal decision upholding FCA ban of a former bank CEO, the final rules for the Private Intermittent Securities and Capital Exchange System, UK tax updates related to carried interest, and government consultations aimed at strengthening the UK’s sustainable finance framework.

On the EU side, we cover European Commission (Commission) proposal to reform the EU Securitisation Regulation, updates on the EU Corporate Sustainability Reporting Directive (CSRD) and Corporate Sustainability Due Diligence Directive (CS3D), and European Securities and Markets Authority (ESMA) (i) report on the integration of sustainability risks and (ii) call for evidence on streamlining transaction reporting.

Notable Cases and Events in eDiscovery

Tue, 08 Jul 2025 05:00:00 Z

Texas Age Verification Law Upheld: U.S. Supreme Court Balances Free Speech and Child Protection in the Digital Age

Mon, 07 Jul 2025 05:00:00 Z

UK Quarterly Employment Update (June 2025)

Thu, 26 Jun 2025 05:00:00 Z

Notable Cases and Events in eDiscovery

Thu, 05 Jun 2025 05:00:00 Z

UK/EU Investment Management Update (June 2025)

Tue, 03 Jun 2025 05:00:00 Z

In this Sidley Update we cover, on the UK side, the Financial Conduct Authority’s (FCA) final policy statement on its “name and shame” proposals, enforcement actions against various firms and individuals for improper or criminal conduct, the FCA review into small asset management firms, publication of final rules on investment research payments optionality for fund managers, consultation papers on improving the complaints reporting process for regulated firms and the UK cryptoassets regime, details on the UK’s new private stock market, and a consultation from His Majesty’s Revenue & Customs (HMRC) on the reform of UK international tax rules.

On the EU side, we cover a notable conviction in Luxembourg for money laundering offences, a Call for Evidence from the European Securities and Markets Authority (ESMA) regarding the EU retail investor journey, a Call for Evidence from the European Commission (Commission) regarding the future of the Sustainable Finance Disclosure Regulation (SFDR), simplification of the regulatory regime for small- and medium-size companies under the Omnibus IV legislative package, and the entry into force of amendments to the EU Benchmarks Regulation.

Generative AI Meets Copyright Scrutiny: Highlights from the Copyright Office’s Part III Report

Tue, 20 May 2025 05:00:00 Z

U.S. FTC Delays "Click-to-Cancel" Rule Compliance to July 2025

Wed, 14 May 2025 05:00:00 Z

AAA Revises Consumer and Employment/Workplace Arbitration Rules

Thu, 08 May 2025 05:00:00 Z

April's Notable Cases and Events in E-Discovery

Thu, 08 May 2025 05:00:00 Z

Regulatory Update: National Association of Insurance Commissioners Spring 2025 National Meeting

Wed, 07 May 2025 05:00:00 Z

The National Association of Insurance Commissioners (NAIC) held its Spring 2025 National Meeting (Spring Meeting) March 23–26, 2026. This Sidley Update summarizes the highlights from this meeting in addition to interim meetings held in lieu of taking place during the Spring Meeting. Highlights include continued development of guidance on asset adequacy testing for reinsurance transactions, efforts to develop revisions to the Long-Term Care Insurance Multistate Rate Review Framework, and consideration of amendments to the NAIC’s Purposes and Procedures Manual regarding private letter rating rationale reports.

UK/EU Investment Management Update (May 2025)

Wed, 07 May 2025 05:00:00 Z

In this Sidley Update we cover, on the UK side, the UK proposals for the future regulation of alternative investment fund managers (AIFMs), the Financial Conduct Authority (FCA) consultation on the definition of capital for investment firms, the FCA’s new presence in the United States and Asia-Pacific, the publication of legislation to regulate UK crypto activity, and FCA speeches on its enforcement priorities and market abuse agenda.

On the EU side, we cover the European Supervisory Authorities (ESA) report on the functioning of the EU Securitisation Regulation, the European Commission (Commission) targeted consultation on the Integration of EU Capital Markets, and the European Securities and Market Authority (ESMA) consultation on the revised clearing threshold methodology under European Market Infrastructure Regulation (EMIR) 3.