In today’s digital marketplace, direct sellers rely heavily on electronic agreements to govern their relationships with customers, vendors, and partners. But whether these electronic agreements are enforceable depends, at least in part, on how your policies and other terms are presented to users and the way assent is obtained. Courts scrutinize these issues closely, emphasizing that even minor design choices can make the difference between a binding electronic agreement and an unenforceable set of terms.

Last month, we published an alert about the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) order providing exemptive relief for covered investment advisers from certain anti-money laundering and combating the financing of terrorism  program and other Bank Secrecy Act-related reporting, recordkeeping and information-sharing obligations (IA AML Rule) until January 1, 2028. The IA AML Rule, published by FinCEN as a final rule on September 4, 2024, is currently set to become effective on January 1, 2026. 
On September 22, 2025, FinCEN published a notice of proposed rulemaking to amend the IA AML Rule to delay its effective date by two years, from January 1, 2026 to January 1, 2028.