Morgan W Huston

As we previewed in our prior alert, on May 29, 2026, the Office of Management and Budget proposed an overhaul of 2 CFR 200 et seq., the “Uniform Guidance,” which governs federal grants, cooperative agreements, and other financial assistance.

George Petel’s articles from Wiley Rein are most popular: with readers working within the Securities & Investment industries In the current climate of federal restructuring, government contractors must be vigilant and adaptable. Understandably, a major focus for the contracting community has been the rewrite of the Federal Acquisition Regulation (FAR), but this initial step has proven to be less “revolutionary” than anticipated.

WHAT: The Office of Management and Budget (OMB) issued a proposed rule that would revise the government-wide regulations for the management of federal grants, cooperative agreements, and other forms of federal financial assistance under 2 CFR, subtitle A. According to OMB, the proposed revisions are intended to improve transparency, accountability, and oversight for awards across the federal government, while also reducing the burden on recipients.