By: Giles Bavister, Ayesha Gill, and Neil Woodgate
From 6 April 2026, carry will be redefined and taxed in the United Kingdom as deemed UK trade or business income where investment management services (as redefined) are performed in the UK. The relevant draft legislation was published by HMRC in July 2025.
By: Jennifer L. Klass and Richard F. Kerr
On July 21, 2025, the Financial Crimes Enforcement Network (FinCEN) announced that it is delaying the effective date of the investment adviser anti-money laundering rule (IA AML Rule) for two years from 1 January 2026 to 1 January 2028.
Read MoreBy: Keri E. Riemer and Richard F. Kerr
On 17 July 2025, the US House of Representatives passed the Guiding and Establishing National Innovation for US Stablecoins of 2025, or the GENIUS Act of 2025. The bill establishes a regulatory framework for payment stablecoins (i.e., digital assets which an issuer must redeem for a fixed monetary value).
Read MoreBy: Jim Bulling and Ben Kneebush
As we have now said goodbye to FY25, we look back on some of the more significant regulatory developments that fund managers can’t afford to ignore.
Read MoreBy: Keri E. Riemer and Richard F. Kerr
As part of its effort to provide greater clarity on the application of federal securities laws to crypto assets, on 1 July 2025, the SEC’s Division of Corporation Finance (Division) released a statement (Statement) addressing its views about the application of certain disclosure requirements to crypto asset exchange-traded products (ETPs).
Read MoreBy: Jim Bulling, Alex Parker, and Madison Jeffreys
In preparation for the changes to the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML Act) which are due to commence on 1 July 2026, “tranche 2” entities including lawyers, accountants and real estate agents will need to make some significant changes to their business processes to ensure they comply with the new requirements.
Read MoreCopyright © 2025, K&L Gates LLP. All Rights Reserved.