Metals Manufacturing and Fabrications

On 7 January 2025, President Donald Trump issued an executive order (EO) aimed at limiting and preventing certain large defense contractors from conducting stock buybacks, issuing dividends, and awarding executive compensation.

The One Big Beautiful Bill Act makes major changes to the Internal Revenue Code’s clean energy tax provisions, particularly to the provisions that were extended, expanded, and established as part of the 2022 Inflation Reduction Act.

While the pace of amendments and rule changes from the US Securities and Exchange Commission (SEC) slowed in 2025 with the change in presidential administration and the appointment of new SEC Chair Paul S. Atkins, we have seen fundamental changes in policy and other developments that public companies will need to understand as they prepare for their 2025 Form 10-K and 2026 proxy season.

In this article, Dr. Jan Boeing and Arnaud Dobelle outline the key milestones of the new regulatory framework, its interplay with financial sector rules such as DORA and PSD2, and what the upcoming Digital Omnibus proposal means for organisations deploying AI in Europe.