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The Securities and Exchange Commission (SEC) has received a proposal from BOX Exchange LLC to amend Rule 5055 to allow for cash settlement of certain customized FLEX Equity Options where the underlying security is an Exchange-Traded Fund (ETF). This amendment aims to broaden investment options and potentially shift some over-the-counter market trading onto the exchange. To ensure stability, the cash settlement will only apply to ETFs that meet specific liquidity criteria. The SEC has waived the typical 30-day waiting period for the rule to take effect, citing that similar proposals have already been approved for other exchanges.

The document from the Treasury Department and the IRS details final regulations regarding the Section 199A deduction for specified agricultural or horticultural cooperatives and their patrons. It provides guidance on how cooperatives and their patrons should calculate the Section 199A(a) and (g) deductions, ensures clear definitions like "patronage and nonpatronage," and establishes reporting requirements. The regulations aim to clarify the application of the Tax Cuts and Jobs Act's provisions, simplify tax processes for cooperatives, and ensure that tax benefits are consistent with legislative intent.

The Office of Natural Resources Revenue (ONRR) is delaying the effective date of its "2020 Valuation Reform and Civil Penalty Rule" from February 16, 2021, to April 16, 2021. This decision follows the January 20, 2021, White House directive to pause and review pending regulations, ensuring they properly consider applicable laws and policies. The delay also opens a 30-day comment period for public input on the rule's legal and policy foundations and the impact of the delay itself. The ONRR hopes to gather feedback on various concerns, particularly how recent changes in Executive Orders and potential adjustments to royalty calculations might affect the rule.

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.

The Federal Trade Commission (FTC) has proposed a consent order to address alleged anticompetitive practices by the private equity firm Welsh, Carson, Anderson & Stowe. The firm was accused of violating several federal laws by consolidating anesthesia services in Texas through its company, U.S. Anesthesia Partners, Inc., which led to increased prices. The proposed order seeks to limit Welsh Carson's influence over this company and requires them to obtain FTC approval for future acquisitions in anesthesia and related medical fields to prevent similar monopolistic behavior. The public has until March 20, 2025, to submit comments on this proposed consent order.

The U.S. Small Business Administration (SBA) has issued an interim final rule implementing the Paycheck Protection Program (PPP) Second Draw Loans under section 311 of the Economic Aid Act. This program is designed to provide financial support to small businesses impacted by COVID-19 that already received a first PPP loan. Eligibility criteria include having 300 or fewer employees and experiencing a revenue decline of at least 25% compared to 2019. Second Draw PPP Loans have terms similar to the first draw loans and are eligible for loan forgiveness if conditions are met. Comments are invited until February 16, 2021.

The Quality Loss Adjustment (QLA) Program has been established by the Farm Service Agency, under the Department of Agriculture, to assist farmers who experienced eligible crop quality losses due to natural disasters like hurricanes, droughts, and floods in 2018 and 2019. Additionally, the Wildfire and Hurricane Indemnity Program Plus (WHIP+) has been updated to include excessive moisture and droughts from that same period as qualifying disasters. The final rule aligns with the Further Consolidated Appropriations Act, 2020, ensuring appropriate disaster relief support is provided and clarifying sugar beet eligibility for compensation. Farmers must provide documentation by March 19, 2021, and comments on this rule are open until March 8, 2021.

The Securities and Exchange Commission (SEC) has published a notice about proposed changes to the NYSE Chicago, Inc. rules to allow listing and trading of certain Exchange-Traded Products (ETPs). These changes align NYSE Chicago rules with those of NYSE Arca, aiming for consistency and facilitating competition in ETP listings. The new rules are designed to enhance transparency and clarity in exchange rules while ensuring comprehensive oversight through existing surveillance measures. Interested parties are invited to submit their comments on these proposals to the SEC.

The Federal Energy Regulatory Commission (FERC) is inviting public comments on extending the information collection requirements for four types of applications and reports, without changes to current requirements. This includes FERC-519 for public utility mergers and acquisitions, FERC-520 for interlocking directorates, FERC-546 for gas pipeline rates, and FERC-580 for fuel and energy purchases. Comments are due by April 4, 2025, and can be submitted online or by mail. The Commission emphasizes the importance of these collections for fulfilling its regulatory duties under the Federal Power Act and Natural Gas Act.

The Federal Trade Commission (FTC) seeks public comments on its shared enforcement with the Consumer Financial Protection Bureau (CFPB) regarding consumer reporting agencies' responsibilities under a specific rule. This rule ensures consumers can request a free annual file disclosure from nationwide consumer reporting agencies. The FTC estimates that there will be about 21 million requests for these reports each year. The FTC is also asking for comments on the effectiveness and accuracy of these procedures and the potential ways to improve them. Comments must be submitted by April 14, 2025.