SEC's Statement of 2026 Examination Priorities Omits Cryptocurrency

Wall Street regulator drops emphasis on crypto sector exams for 2026

The U.S. Securities and Exchange Commission on Monday dropped its emphasis on the oversight of companies offering crypto asset-related services as part of its priorities for examining Wall Street firms for the current fiscal year, according to an annual statement published by the agency.

The SEC’s Division of Examinations, which scrutinizes the legal compliance of investment advisers, broker-dealers, clearing agencies, stock exchanges and others, said it would focus on fiduciary duty, standards of conduct, and asset custody as well as new requirements for customer data privacy, among other subjects.

However, the statement contained no standalone section explicitly focusing on crypto activity and the volatility of digital assets, as it has in prior years. The U.S. government’s current fiscal year ends on September 30, 2026.

First Brands to Tap Examiner to Probe Financial Irregularities

A judge overseeing the First Brands bankruptcy case said he intends to approve the appointment of an examiner to investigate claims of potential financial irregularities at the auto-parts supplier.

Judge Christopher Lopez of the U.S. Bankruptcy Court in Houston said Monday he would authorize an examiner to oversee an investigation leading up to the company’s bankruptcy. The scope could include claims of allegedly fabricated invoices, double-pledged collateral and manipulation of the company’s books and records, according to court papers filed on Monday.

Bitcoin slides below $90,000 as traders grow cautious

Bitcoin fell below $90,000 for the first time in seven months on Tuesday in the latest sign that investor appetite for risk is drying up across financial markets.

The risk-sensitive cryptocurrency has lost all this year’s gains and is now down nearly 30% from a peak above $126,000 in October. It was down 1% at $90,907.51 in early European trading after touching as low as $89,286.75.

About $1.2 trillion has been wiped off the total market value of all cryptocurrencies in the past six weeks, according to market tracker CoinGecko.

Ashurst Ends Decades-Long Quest to Find Its Way Into America

Ashurst’s pending merger with Perkins Coie ends a decades-long hunt for a trans-Atlantic partner for a London firm hit hard in its own backyard by US rivals.

Once near the top of the second-tier of UK firms in London known as the Silver Circle, Ashurst’s position relative to local rivals has been in decline over the last 15 years largely because of withering competition from US law firms, UK legal recruiter Scott Gibson said in an interview.

“Ashurst has been seeking a US partner for the past 20 years, and Perkins Coie is an excellent brand,” Gibson said. “It is generally easier for law firms to achieve higher margins in the US because clients tolerate higher charge-out rates.”

Big Law Office Attendance Still Getting ‘High Degree of Discussion

If you thought the remote versus office debate was over, think again. In large and midsize law firms, industry observers say, more firm leaders are considering whether to be more rigid on attendance and move to require four days in the office a week, much like a quarter of Am Law 50 firms do now.

The issue remains unsettled, sources say, because of the “revolving door” of talent in a highly competitive era. Other factors motivating firm leaders to consider more required time in the office: a lack of engagement in the workforce, plus rising occupancy costs and the prospect of losing talent as demand increases.

Some firms also know they’re not likely to get everyone to follow their rules on in-person work unequivocally. Still, they want to set a high bar, said Jeffrey Lowe of recruiting firm CenterPeak.

“I continue to believe that firms requesting four days in-office aren’t really expecting it or are likely to achieve it,” Lowe said in an interview. “But it’s the hope that, ‘The more days we ask for, the more days they’re likely to show up.’”