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FTA Softens Blow of Stricter Buy America Requirements for Rolling Stock

Client Alert | 1 min read | 04.12.16

On April 6, 2016, the Federal Transit Administration proposed a policy statement and a public interest waiver, both clarifying that the increased U.S. content percentages mandated by the FAST Act will not apply to contracts entered into before the act’s October 1, 2015, effective date and waiving application of the higher percentages to any other contracts resulting from solicitations advertised prior to December 4, 2015 (the date the law was enacted). The FAST Act itself provided some relief from the increased percentages by requiring the FTA, when denying non-availability waivers, to certify to the identity of domestic suppliers of the iron, steel, or manufactured good at issue and by allowing inclusion of domestically sourced iron or steel used in foreign manufactured car shells or rolling stock frames to be included in the calculation of the domestic cost percentage.

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Client Alert | 6 min read | 03.18.26

CFTC Takes Additional Steps Toward Prediction Market Regulation: What You Need to Know

On March 12, 2026, the U.S. Commodity Futures Trading Commission (CFTC) took formal steps toward establishing additional regulations for prediction markets. The agency issued an Advanced Notice of Proposed Rulemaking (ANPRM) soliciting public input on potential new rules, and separately, released staff guidance outlining its views on how existing rules apply to prediction market platforms currently in operation. These developments signal a significant shift in the regulatory landscape for an industry that has grown rapidly over the past year....