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The Federal Reserve Board has finalized a rule that expands the definition of "financial institution" in Regulation EE, which is part of the Federal Deposit Insurance Corporation Improvement Act of 1991. This change is meant to enhance the netting protections under FDICIA, reduce systemic risk, and increase market efficiency. The new rule adds a variety of entities to the definition, including swap dealers, security-based swap dealers, and foreign central banks, among others. It also clarifies the activities-based test used to determine if an entity qualifies as a financial institution.

The Department of Defense (DoD) has proposed a new rule to modify a system of records called the "Defense Sexual Assault Incident Database," which is intended to collect data related to sexual assault cases involving members of the Armed Forces. The rule seeks to exempt certain records within this database from parts of the Privacy Act to allow for better handling of legal actions or investigations without interference. The rule also invites the public to submit comments before it becomes final, and it explains that it won't significantly affect small businesses or impose compliance costs on state, local, or Tribal governments. The proposal is primarily focused on maintaining the privacy and integrity of ongoing investigations and ensuring a streamlined process for handling reports of sexual assault.

The Department of State issued a final rule to adjust civil monetary penalties (CMP) across several regulatory areas, including fraud, chemical weapons, arms control, and lobbying. The adjustments align with annual inflation guidelines set by the Office of Management and Budget based on a December 2024 cost-of-living adjustment multiplier. These new penalty amounts will apply to violations occurring on or after the rule's effective date, January 10, 2025. The rule ensures penalties keep up with inflation, following mandates from recent legislation and guidelines.

The document is a final rule published by the Internal Revenue Service (IRS) and the Treasury Department that identifies certain related-party transactions involving partnerships as transactions of interest due to potential tax avoidance. These transactions, involving adjustments to the basis of partnership property, must be disclosed to the IRS by material advisors and certain participants. The rule includes specific requirements and thresholds for which transactions must be reported and aims to gather additional information to prevent tax avoidance, while accommodating concerns about administrative burdens and compliance costs for smaller businesses. This rule will take effect on January 14, 2025, with extensions provided for some disclosures.

The Department of Education is inviting applications for new fiscal year 2025 awards for the Native Hawaiian Career and Technical Education Program (NHCTEP). The program aims to improve career and technical education programs benefiting Native Hawaiians, in line with the Carl D. Perkins Career and Technical Education Act. Eligible applicants include community-based organizations primarily serving Native Hawaiians, and grants can range from $150,000 to $650,000 each year, with a project period of up to 60 months. Applications should propose specific, measurable targets and may include projects focused on helping participants gain skills for high-demand jobs.

The Pension Benefit Guaranty Corporation (PBGC) has issued a final rule that amends regulations concerning the allocation of unfunded vested benefits to employers that withdraw from multiemployer pension plans. This rule, in response to changes made by the Multiemployer Pension Reform Act of 2014, simplifies how employers' withdrawal liabilities are calculated, especially when a pension plan has reduced benefits or adjusted contributions. The changes aim to make it easier for plan sponsors to comply with statutory requirements while reducing administrative burdens. The new rules apply to employer withdrawals that occur in plan years starting on or after February 8, 2021.

The document details final regulations that implement clean electricity production and investment credits established by the Inflation Reduction Act of 2022. These regulations provide guidelines for determining greenhouse gas emissions from electricity production, setting provisional emissions rates, and determining eligibility for the tax credits. The rules impact taxpayers who claim these credits for qualified facilities or energy storage technology activated after 2024. The IRS and Treasury Department consulted with experts across government agencies to address public comments and ensure comprehensive regulations.

The Securities and Exchange Commission (SEC) is requesting public comments on the continuation of its Form 11-K, used by employee stock purchase and savings plans to report financial information. This form is part of the requirements under the Securities and Exchange Act. The SEC estimates that completing each form takes about 95.81 hours, with a cost of $7,525, and receives about 941 submissions annually. Feedback is requested on the necessity and utility of the form, ways to enhance its quality, and suggestions to reduce the burden on respondents, by March 17, 2025.

The Department of Veterans Affairs (VA) proposes changes to its life insurance regulations to make it easier for terminally ill service members and their families to access benefits. Typically, a terminally ill person must apply for their Accelerated Benefit, which allows them to receive part of their insurance payout early. However, the rule change would allow an alternate applicant, like someone with power of attorney, to apply if the insured person cannot do so themselves because of medical reasons. This update would also make it clear who qualifies as a dependent for insurance coverage and aligns VA's practices with industry standards.

The Federal Aviation Administration (FAA) is proposing a new airworthiness directive for certain Airbus Helicopters models due to reports of significant wear in specific parts of the helicopter. This proposal requires measuring wear in these parts and taking corrective actions based on the results. The proposal also includes a prohibition on installing certain parts unless specific conditions are met. The directive aims to address safety concerns and ensure the continued safe operation of these helicopters.