ATLANTA – Troutman Pepper Locke represented TAG Bancshares, Inc. (TAG), holding company for Citizens Bank & Trust, Inc., in its agreement to merge into CBS Banc-Corp. (CBS), holding company for CB&S Bank, Inc. For more information, see the press release.
WASHINGTON, D.C. – Troutman Pepper Locke advised Piper Sandler & Co., a leading investment bank, as sole placement agent in Univest Financial Corporation’s $50 million private placement of fixed-to-floating rate subordinated notes. For more information, see the press release.
James Stevens, co-leader of Troutman Pepper Locke’s Financial Services Industry Group, was quoted in the October 13, 2025 S&P Global Market Intelligence article, “US Banks’ Brokered Deposit Levels Would Drop Under Pending House Bills.”
The digital asset landscape took a leap forward this summer when the U.S. Court of Appeals for the Ninth Circuit confirmed[1] that nonfungible tokens (NFTs) qualify for trademark protection under the Lanham Act.[2] This decision, centered on the Bored Ape Yacht Club’s collection of 10,000 distinctive digital ape NFTs, signals a new era for both intellectual property and secured lending.
On September 30, 2025, the Office of the Chief Counsel of the Securities and Exchange Commission’s (SEC) Division of Investment Management (the Division) issued a no-action response (the No-Action Letter) stating that it would not recommend enforcement against registered investment advisers (RIAs) or certain regulated funds (i.e., registered investment companies and business development companies) for maintaining crypto assets and related cash and cash equivalents with certain state-chartered financial institutions (state trust companies) so long as particular conditions are met.[1] In doing so, the No-Action Letter permits regulated funds and RIAs to treat state trust companies as “banks” for purposes of the custody requirements of Investment Company Act of 1940, as amended (the 1940 Act), the Investment Advisers Act of 1940, as amended (the Advisers Act) and the rules thereunder.
Register Here
Tuesday, September 30 • 12:00 – 1:30 p.m. ET
Troutman Pepper Locke Partner Jay Jumper will be speaking on a panel for a webinar hosted by CBIZ.
During this virtual event, panelists will provide a comprehensive overview of how strategic thinking, emerging best practices, and the latest trends can empower companies to successfully
In a significant move aimed at enhancing regulatory clarity and fostering global market access, particularly for offshore cryptocurrency firms, the U.S. Commodity Futures Trading Commission (CFTC) issued a new advisory on the Foreign Board of Trade (FBOT) registration framework. This development, announced on August 28, 2025, by Acting Chairman Caroline D. Pham, marks a pivotal step in aligning U.S. trading regulations with the evolving landscape of global derivatives markets.
Last week, TZP Management Associates, LLC (TZP), a New York-based private equity investment adviser, agreed to pay more than $680,000 in monetary relief to settle charges brought by the Securities and Exchange Commission (SEC) for breaches of fiduciary duty related to the calculation of management fees for TZP’s private fund clients. This enforcement action highlights the importance of adhering to fund partnership agreements and providing adequate disclosure of fee calculation and management practices to mitigate potential conflicts of interest.
On August 1, the Securities and Exchange Commission (SEC) announced the formation of a new task force dedicated to harnessing artificial intelligence (AI) to enhance innovation and efficiency across the agency. This initiative, led by Valerie Szczepanik, SEC’s newly appointed Chief AI Officer, marks a significant step in the agency’s commitment to integrating this technology into its operations.
WASHINGTON, D.C. – Troutman Pepper Locke served as counsel to Simmons First National Corporation (Simmons), an Arkansas corporation and the bank holding company for Simmons Bank, an Arkansas state-chartered bank, in connection with Simmons’ underwritten public offering of 18,653,000 shares of its Class A common stock (including 2,433,000 shares pursuant to the underwriters’ option to purchase additional shares of common stock in the offering). The public offering price of shares of common stock sold in the offering was $18.50 per share, and the underwriters agreed to purchase the shares from Simmons pursuant to the underwriting agreement at a price of $17.575 per share.