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For firms seeking to broaden retail access, list standardized futures or options on novel underliers (including digital assets), or consolidate their regulatory positioning in US markets, the DCM pathway offers a clear, albeit rigorous, route. The designation process also comes with meaningful responsibilities as a self-regulatory organization (SRO) and a comprehensive framework of DCM Core Principles (some of which are discussed below). Implementation of these rules is required as soon as a DCM is designated by the CFTC and continually maintained thereafter.

Members of Katten's Private Equity and Mergers & Acquisitions practice served as lead legal advisors to Excel Sports Management, LLC, an industry-leading sports agency that represents iconic talent, blue-chip brands and marquee properties, in a strategic new partnership with Goldman Sachs Alternatives, the private equity arm of Goldman Sachs (NYSE: GS).

Issued on November 10, 2025, the long-awaited decision from the US Court of Appeals for the 10th Circuit in National Association of Industrial Bankers v. Weiser supports Colorado's exercise of its 2023 legislative "opt-out" from the interest rate limitation provisions set forth in the Depository Institutions Deregulation and Monetary Control Act of 1980 (DIDMCA). Surprising the banking industry writ large, the decision adds to further uncertainty as to "where a loan is made (originated)," due to the Court's holding that a loan is made where either the bank is located or the customer resides for purposes of DIDMCA's opt-out.

The English High Court has delivered its long-awaited judgment in Getty Images v. Stability AI. It has been very closely followed across the legal, creative and AI sectors alike, with the decision widely expected to shed light on how UK IP law applies to the rapidly evolving field of generative AI.

The federal government’s 43‑day shutdown — which ended with a late‑evening November 12 funding bill and next‑day return to duty for furloughed staff — imposed a near‑total pause on the Commodity Futures Trading Commission’s (CFTC or Commission) routine functions. During the lapse, the CFTC ceased the vast majority of its operations, including most enforcement activities, market surveillance outside of essential risk monitoring, rulemaking and the production of core market reports, such as the Commitments of Traders (COT) and select swaps data.