Arnold & Porter Blog

Introduction and Regulatory Background Prediction markets allow participants to trade contracts whose value depends on the outcome of a future event. A typical contract poses a yes-or-no question — such as whether a particular candidate will win an election, the Federal Reserve will cut interest rates, or a team will win a sporting event — and settles at a fixed value if the specified event occurs and at zero if it does not.

New York-based Mergers & Acquisitions partner Carlos Lobo was named to Latinvex’s 2026 list of “Latin America’s Top 100 Lawyers,” which recognizes the leading attorneys from international law firms that are involved in the legal business in Latin America. The selection is based on a combination of factors, including recent track record on major deals and business.

If a prime contractor–subcontractor dispute just landed on your desk, the steps you take in the first 72 hours can shape the outcome of the entire dispute. In government contracting, prime-sub relationships are foundational — but when they break down, the disputes that follow are often among the most complex and contentious in the industry.

Arnold & Porter recently advised Volaris Group in its acquisition of L5 Networks, a Brazilian provider of cloud-based corporate communications solutions and omnichannel and corporate collaboration platforms. Volaris Group is an operating group of Constellation Software Inc., a Canadian-based company that acquires and develops technology companies serving vertical markets. The Arnold & Porter team was led by Mergers & Acquisitions partner Carlos Lobo.

Arnold & Porter advised OneView Commerce on its contract with the United Kingdom Post Office for an electronic point-of-sale (EPOS) system. The contract comes as part of the Post Office’s replacement of its current Horizon system. The Arnold & Porter team was led by Corporate & Finance partner Jeremy Willcocks and included associate Matty Desmond. Partner John Schmidt advised on antitrust matters.

WASHINGTON, D.C., August 24, 2026 — Arnold & Porter announced today that Brendan Clegg has joined the Financial Services practice as a partner resident in the firm’s Washington, D.C. office. Brendan joins the firm with nearly 15 years of experience in the public and private sectors, including as enforcement counsel at the Office of the Comptroller of the Currency (OCC).

On August 13, 2026, the U.S. government took two actions aimed at strengthening the competitiveness of its domestic drone industry. First, the U.S. Department of Commerce’s Bureau of Industry and Security (BIS) issued a final rule, effective immediately, that eases export control restrictions on many commercial unmanned aerial vehicles (UAVs or drones), related parts and components, and associated software and technology.

Brendan Clegg represents national and state-chartered banks, credit unions, and financial services providers in a variety of regulatory, transactional, licensing, and enforcement matters before the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Federal Reserve Board, the Consumer Financial Protection Bureau, the Financial Crimes Enforcement Network, the National Credit Union Administration, and state banking regulators and attorneys general.

State litigation over carbon capture and storage (CCS) is testing a core element in many existing statutory CCS frameworks: whether a legislature may allow nonconsenting landowners to be forced to provide their pore space for an operator’s CCS facility through “amalgamation” procedures (sometimes referred to as “unitization” or “pooling”) similar to mechanisms used for the extraction of oil and gas interests.

On July 31, 2026, the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) issued a joint notice of proposed rulemaking to revise their regulations implementing the Community Reinvestment Act (CRA) (the Proposed Rule).1 This is the fourth significant rulemaking effort in less than a decade to revise some or all of the federal regulatory framework implementing the CRA, and none of the prior efforts resulted in a new framework that remains in...