North America: Finance and Banking

The SEC rescinded Rule 202.5(e), which had codified the SEC rule requiring settling parties to agree that they would not publicly deny the SEC’s allegations. The change brings the SEC in line with the majority of federal agencies, including the CFTC which announced a similar change in early June. New language reflecting the change is already appearing in SEC orders.

Ce bulletin présente une rétrospective des principaux développements réglementaires en matière d’assurance et de distribution au Québec des six derniers mois. Comme vous pourrez le constater, l’Autorité des marchés financiers (l’« Autorité ») et le gouvernement du Québec ont été actifs au cours de cette période.

A co-investment is a direct investment opportunity presented by the sponsor (manager or general partner) of a private fund in which the investor may already be participating.

Members of Walkers' European Banking & Finance team attended UKREiiF 2026 in Leeds, gathering insights from intermediaries and lenders about current market conditions.

Cadwalader's real estate finance team has successfully closed several major transactions spanning student housing portfolios, luxury resort acquisitions, office complex refinancings, industrial warehouse facilities, and cold-storage properties. These deals range from $39.25 million to $1.435 billion and involve diverse property types across multiple states, demonstrating the firm's comprehensive capabilities in commercial real estate lending and acquisition financing.

Le crédit privé peine à pénétrer le marché canadien dominé par les banques, mais des opportunités subsistent pour les prêteurs étrangers innovants.

Partner Craig Garvey provides essential guidance for founders navigating the complex landscape of testing-the-waters meetings before an initial public offering. The article examines critical compliance requirements, disclosure obligations, and strategies for managing investor communications while avoiding potential SEC scrutiny during the IPO process.

With innovation in technology, artificial intelligence, defense, and life sciences driving investor demand, Israeli companies are poised to capitalize on a strengthening US IPO market in 2026.

The private equity exit market shows signs of recovery with increased deal volume in early 2026, though conditions remain far from the pre-pandemic norm. Strategic buyers pursue selective opportunities while public markets reopen cautiously, forcing sophisticated sponsors to fundamentally rethink their approach to liquidity planning throughout the investment lifecycle rather than concentrating exit strategies near the end of hold periods.

Transferring residential property to a limited liability company involves more than simple paperwork and requires careful consideration of multiple legal and financial implications.

Assuming a mortgage loan in a real estate transaction can preserve favorable financing terms and avoid new loan costs, but the process involves critical considerations beyond simply taking over payments.

Congress has passed legislation to reauthorize partial claims with VA-guaranteed home loans, providing relief options for veterans facing foreclosure. The VA has announced implementation timelines for servicers to integrate this program into their systems, with the program opening for submissions in mid-2026.