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The Institutional Limited Partners Association (ILPA) has released an updated Capital Call & Distribution Template (CC&D Template) to standardise the accounting details embedded in call and distribution notices and to align the template with the updated ILPA Reporting Template and the new ILPA Performance Template. The updated template is intended to supplement existing General Partner (GP) call and distribution notices. ILPA undertook a broad, industry‑wide process, including a nine‑week public comment period with nearly 50 responses, to finalise the design.

Delayed slightly by the recent government shutdown, the Division of Examinations (the Division) of the Securities and Exchange Commission (SEC) recently published its fiscal year 2026 examination priorities (the Priorities). The Priorities include specific examination areas relating to investment advisers, broker-dealers, self-regulatory organizations, investment companies and other financial market participants.

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.