United States: Investment Strategy

Professional services firms face mounting pressure from private equity consolidation, particularly in accounting where 81 of the top 500 US firms engaged in M&A activity in 2025. While PE promises accelerated growth and capital infusion, it fundamentally alters governance, culture, and long-term vision. This analysis examines the stark contrast between PE promises and operational realities, offering independent firms a strategic framework for sustainable growth without sacrificing control.

As artificial intelligence drives unprecedented demand for data centers, power availability has emerged as the critical bottleneck constraining asset value and investment returns.

On May 19, 2026, the Financial Industry Regulatory Authority (“FINRA”) announced that it is conducting a targeted review of how member firms supervise the sale of higher-risk structured products.

Speaking recently at NYU Law School, David Miller outlined his enforcement philosophy and priorities as the new head of the Commodity Futures Trading Commission’s (CFTC) Division of Enforcement (Division). While emphasizing that the “era of regulation by enforcement is over,” Miller made clear that the CFTC intends to vigorously pursue fraud, manipulation and abuse.

The Department of Labor has proposed a new regulatory framework establishing a six-factor safe harbor for retirement plan fiduciaries when selecting investment options, including alternative assets like private equity and digital assets.

The U.S. Department of Labor (DOL) has issued a proposed rule that would create a process-based safe harbor for ERISA fiduciaries selecting investment options in 401(k), 403(b), and other defined contribution plans.

SEC Division of Investment Management Director Brian Daly recently delivered remarks on investment advisers voting client proxies.

For non-European banks, the lack of regulatory harmonisation across EU Member States makes cross-border lending into the EU complex...

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