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The Consumer Product Safety Commission has provisionally accepted a Settlement Agreement with Fitbit, LLC, which includes a civil penalty of $12,250,000. The case concerns reports of battery overheating in Fitbit Ionic smartwatches, which caused burn injuries. Although Fitbit did not admit to any violations, they agreed to a recall and settlement to avoid further litigation. Furthermore, Fitbit will implement a compliance program to ensure adherence to safety regulations and report any changes or updates to the CPSC for a year.

The U.S. Securities and Exchange Commission (SEC) has finalized amendments to improve financial disclosure requirements under Regulation S-K. These changes remove the need for companies to provide Selected Financial Data and streamline the need to disclose Supplementary Financial Information. Additionally, they update the Management's Discussion & Analysis of Financial Condition and Results of Operations (MD&A) rules to make financial statements more transparent and less repetitive. The goal is to help investors by making disclosures clearer and to reduce compliance difficulties for companies.

The National Marine Fisheries Service (NMFS), part of the National Oceanic and Atmospheric Administration (NOAA), has proposed a rule to designate critical habitat for the Beringia distinct population segment of the bearded seal under the Endangered Species Act. The proposed critical habitat includes marine areas in the Bering, Chukchi, and Beaufort seas, and focuses on sea ice habitat essential for the species' survival, such as areas for whelping, nursing, molting, and breeding communication. Public comments on this proposal are being requested, and considerations include potential impacts on existing activities and economic factors. The ultimate goal is to protect the areas critical for the conservation of these seals.

The Federal Housing Finance Agency (FHFA) has issued Orders for stress test reporting by regulated entities, effective March 4, 2025. These Orders require financial companies with over $250 billion in assets to report their stress test results, ensuring they have enough capital to withstand severe economic conditions. The guidance includes detailed instructions on how the reports should be formatted and submitted. The Orders and instructions can be accessed online through the FHFA’s website.

The U.S. Department of Energy has decided to update energy conservation standards for gas-fired instantaneous water heaters. These changes aim to make the heaters more energy-efficient, leading to significant energy savings while being both technologically feasible and economically justified. Starting December 26, 2029, manufacturers will need to comply with these new standards, which are calculated to save energy and money over the lifetime of the heaters and reduce greenhouse gas emissions, despite potential minor increases in electricity use. The overall benefits include costs savings for consumers and emissions reductions, though there will be conversion costs for manufacturers to meet these standards.

Nasdaq PHLX LLC has filed a proposal with the U.S. Securities and Exchange Commission to update its rules due to a technology upgrade. This update will align PHLX's trading functions and order types more closely with those of its affiliated exchanges, such as ISE, GEMX, and MRX, and introduce new trading protections and order types, which include options like marketable limit orders and add liquidity orders. The changes aim to offer consistent trading experiences across Nasdaq's platform, improve transparency, and enhance trader protections by offering more sophisticated risk-management tools, thus encouraging market participation. The proposal is part of an effort to streamline system operations, make regulatory compliance more efficient, and ensure a fair trading environment.

The Agricultural Marketing Service (AMS) has made a final rule that changes how butterfat testing records are handled for the Dairy Grading and Inspection Program. The rule allows plants to do butterfat tests in-house or at approved third-party labs and obligates them to keep these records available for inspection by the USDA. This change aims to streamline processes by aligning with current industry practices and providing a more accurate picture of the butter's quality over time. The rule is expected to help butter plants save between $4,560 and $31,560 annually by eliminating the need for duplicate USDA inspections.

The Department of Housing and Urban Development (HUD) is updating its rules for two programs: the Housing Choice Voucher (HCV) mobility demonstration and the Moving to Work (MTW) expansion. HUD is allocating up to $50 million to help public housing agencies increase the number of families living in opportunity areas. However, HUD is imposing some restrictions to ensure accurate assessments of both programs, such as limiting how housing agencies can participate in both programs simultaneously. Housing agencies must choose between specific MTW expansion cohorts and the HCV mobility demonstration, and some policy changes require HUD's approval to maintain the integrity of the evaluation process. HUD also made corrections to previously published definitions and requirements.

The U.S. Department of Defense (DoD) has announced a proposed sale of military equipment to India, which includes 31 MQ-9B Sky Guardian aircraft and various other defense systems. The total estimated value of the sale is $3.99 billion, aiming to enhance India’s ability to conduct surveillance and reconnaissance missions. This sale is intended to bolster the strategic relationship between the U.S. and India and support security in the Indo-Pacific and South Asia regions. The transaction will not negatively impact U.S. defense readiness and does not require U.S. personnel to be stationed in India.

The Securities and Exchange Commission (SEC) has extended the deadline for smaller broker-dealers to file their annual reports by 30 days, due to challenges these firms face in securing audit services within the crowded audit season following the fiscal year end. According to FINRA, this extra time will help alleviate the pressure on smaller broker-dealers, who often rely on manual processes and face limited availability of independent auditors. The extension is available to broker-dealers who meet specific conditions, such as having less than $50 million in capital and liabilities, being in compliance with certain rules, and using electronic filing to submit reports. This move aims to ensure quality in financial reporting without compromising investor protections.