Insights

A Katten team led by Government and Public Finance Partner Kelly Hutchinson, with Counsel Michela Daliana and Associate Jeremy Stevenson, served as co-bond counsel for the State of Illinois in its $600 million Build Illinois (BI) bond series.

Katten Muchin Rosenman UK LLP (Katten) announced today that it represented Swedish asset manager Areim AB (Areim) in relation to its SAGA joint venture, which recently signed an agreement for its third acquisition.

Katten is pleased to announce that a cross-discipline deal team was honored with the USA Energy Services Deal award at the 7th Annual USA and Global M&A Atlas Awards ceremony, held on December 9, 2025, at the Metropolitan Club of New York.

Ofcom has stepped up the pressure, firstly, by issuing two new sets of fines, with one reaching up to £1,050,000 for failure to implement highly effective age verification and failure to respond to statutory notices.

Alongside these new fines, 20 new sites are now being investigated by Ofcom, bringing the total number of sites under investigation to 76. With the potential of significant penalties, services now face a clear message: do not ignore Ofcom and the Online Safety Act, or you will face the consequences. 

Financial Markets and Funds Partner Nathaniel Lalone recently commented on the European Commission's (EC) legislative proposal to deepen EU capital markets by removing regulatory barriers in trading, post-trading and asset management. The proposal would bring the EC into alignment with the European Securities and Markets Authority's (ESMA) 2024 recommendations to reduce fragmentation, streamline regulatory requirements, harmonize supervision, and enhance competitiveness, including through EU-level oversight of certain cross-border infrastructures and cryptoasset service providers.

As disclosed by recent comments during Congressional hearings, publication of proposed regulations by the federal financial regulators (including the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and the National Credit Union Administration) implementing the Guiding and Establishing National Innovation for US Stablecoins Act (the GENIUS Act) is expected before December 31, 2025.

The US Commodity Futures Trading Commission (CFTC or Commission) has taken a significant step toward regulatory clarity and harmonization in the cross-border swaps market. The CFTC's Market Participants Division (MPD), Division of Clearing and Risk (DCR) and Division of Market Oversight (DMO, collectively with MPD and DCR, the Divisions) jointly issued No-Action Letter 25-42 (Letter 25-42) on December 9, which addresses longstanding inconsistencies in the definitions of "U.S. person" and "Guarantee" under the CFTC's Dodd-Frank Wall Street Reform and Consumer Protection Act’s (the Dodd-Frank Act) cross-border swap framework.  

Katten was ranked in the Blockchain & Cryptocurrencies and Crypto-Asset Disputes categories. Financial Markets and Funds Global Chair Lance A. Zinman and Financial Markets and Regulation Co-Chair Daniel J. Davis were recognized in Blockchain & Cryptocurrencies practice area.

Partner and Financial Markets and Regulation Co-Chair Carl Kennedy spoke with Politico about the new Commodity Futures Trading Commission (CFTC) chair nominee Mike Selig. 

A Katten team led by Capital Markets Partner and Co-Chair Mark Wood served as counsel to Capstone Green Energy Holdings, Inc., a publicly traded provider of clean technology solutions using ultra-low-emission microturbine energy systems, in connection with Capstone's recently completed private investment in public equity (PIPE) offering. 

Since the Online Safety Act's (OSA) first requirements came into force in January 2025, Ofcom has published its first confirmation decision of a financial penalty under the legislation (Confirmation Decision). This is significant as it is the first substantive publication of an enforcement action undertaken by Ofcom and it gives the details of the first financial penalty issued by Ofcom under the OSA.

Katten announced today that members of its Private Equity and Mergers & Acquisitions (M&A) practice served as lead legal advisors to Excel Sports Management, LLC ("Excel"),  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).