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The Department of Labor is considering a proposed exemption that would allow Northern Trust Corporation and its affiliates to continue using a special legal exemption for certain financial transactions despite Northern Trust Fiduciary Services (NTFS) being convicted of aiding and abetting tax fraud in France. The proposed exemption would be in effect for five years and aims to prevent disruptions for pension plans and other financial entities relying on Northern's services. This proposal includes various safety measures to ensure Northern's operations remain lawful and in compliance with fiduciary duties, also detailing costly procedures and conditions to protect involved parties and maintain trust.

Nasdaq Phlx LLC has submitted a proposed rule change to the Securities and Exchange Commission (SEC) to allow Floor Brokers to use a system called FBMS remotely. This change would permit them to handle certain types of orders without being physically on the Trading Floor, which is especially helpful when open outcry (public bid sharing) is not available. The proposal aims to give greater flexibility in staffing and operations, so business can continue smoothly, even during situations like Trading Floor closures. The SEC invites public comments on this proposal to ensure it aligns with investor protection and market fairness.

The Employment and Training Administration of the Department of Labor has issued an annual update regarding the charges employers can impose on H-2A workers for meals and reimbursement for travel expenses. For 2025, the maximum charge for meals set by the Department of Labor is $16.28 per day, which an employer can only exceed with authorization. Additionally, H-2A and H-2B employers are obligated to reimburse workers for travel-related costs when they reach 50% of their employment period, ensuring the reimbursements do not exceed the standard per diem rate for meals and lodging in the Continental United States. These updates take effect on March 24, 2025.

The Postal Service has issued an interim final rule to adjust the penalties for certain offenses under postal regulations, as required by federal law. These adjustments account for inflation and apply to civil monetary penalties related to consumer protection, deceptive mail practices, false representations, and hazardous materials. The changes impact various penalties, including those for using mail to make false claims, conducting lotteries, and mailing hazardous materials, with new penalty amounts specified for each type of violation. These updates ensure that penalties remain effective as deterrents.

The Department of the Treasury's Internal Revenue Service (IRS) has issued final regulations for a program that offers bonus credits for clean electricity projects in low-income communities, under the Inflation Reduction Act of 2022. Starting in 2025, these regulations outline how eligible projects can receive increased tax credits by meeting specific energy and environmental criteria, including generating electricity without combustion. Various categories, like projects sited in low-income areas or benefiting low-income households, are eligible for different levels of increased credits. The regulations also detail rules for applying, calculating financial benefits, and maintaining eligibility over time.

The Surface Transportation Board received a prefiling notification regarding a proposed transaction where Norfolk Southern Corporation and Norfolk Southern Railway Company aim to gain control of Norfolk & Portsmouth Belt Line Railroad Company. After reviewing the February 14, 2025 submission, the Board determined the transaction is "significant" rather than "minor," requiring more detailed information and compliance with different procedures. The Board instructed Norfolk Southern to amend their application, submit a revised procedural schedule by March 21, 2025, and to pay the additional filing fee associated with significant transactions. Additionally, the Board noted concerns from CSX Transportation and the Virginia Port Authority about potential anticompetitive effects.

The Environmental Protection Agency (EPA) has made comprehensive updates to the regulations overseeing Clean Water Act (CWA) section 404 programs, which involve the management of dredged and fill material by Tribes and States. These updates aim to clarify requirements for how Tribes and States can assume these programs, enhance procedures for public and inter-agency coordination, and strengthen oversight and enforcement aspects. They also allow for greater Tribal involvement in commenting on permits that might impact Tribal resources. The EPA has also streamlined the process for withdrawing State programs if they are not compliant with the CWA requirements, ensuring effective and efficient program operations.

The Food and Drug Administration (FDA) has proposed a new rule that would require most packaged foods to display a front-of-package (FOP) nutrition label called the Nutrition Info box. This label aims to help consumers quickly find and better understand important nutrition information by providing easy-to-read details about saturated fat, sodium, and added sugars. The new rule also includes updates to regulations for low sodium and low saturated fat claims, and would allow businesses time to adjust, with compliance dates varying based on their annual sales.

The Agricultural Marketing Service (AMS) of the USDA has issued a final rule that amends the pricing provisions in 11 Federal Milk Marketing Orders (FMMOs). These changes include updating milk composition factors and surveyed commodity products, revising Class III and IV formula factors, and modifying the Class I skim milk price calculation. Most amendments will take effect on June 1, 2025, while certain adjustments related to skim milk composition will be effective December 1, 2025. This rule aims to more accurately reflect current market conditions and ensure orderly milk marketing.

The Office of Natural Resources Revenue (ONRR) has issued a final rule that updates regulations on how oil, gas, and coal are valued for royalty purposes from Federal and Indian leases, and how civil penalties for certain violations are assessed. The rule reintroduces the option for gas lessees to use an index-based valuation method, removes some limitations on transportation and processing allowances, and clarifies definitions and procedures for valuation. It also explains that civil penalties for payment violations will be assessed more transparently, considering the monetary impact of the violation, and clarifies how ONRR considers mitigating and aggravating circumstances, aiming to increase transparency and fairness.