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The Internal Revenue Service (IRS) has proposed new regulations that explain how to determine if a foreign corporation qualifies as a Passive Foreign Investment Company (PFIC), focusing on insurance companies and banks. These regulations clarify the rules for when income from banking and insurance activities can be considered non-passive, making the company potentially exempt from certain U.S. taxes. They address details like how to value assets and manage accounting standards, aiming to provide clearer guidelines and reduce inconsistencies. This proposal is part of broader efforts to ensure foreign investment income is taxed fairly while maintaining clarity for U.S. investors.

The Executive Order 14178 aims to enhance U.S. leadership in digital financial technology by promoting the growth of digital assets and blockchain technology. It supports the development of stablecoins while preventing the introduction of Central Bank Digital Currencies (CBDCs) in the U.S. The order revokes previous guidelines on digital assets and establishes a President's Working Group to create a new regulatory framework for the sector. It ensures people's ability to use digital networks freely and emphasizes protection against private monetary alternatives to the U.S. dollar.

The Federal Deposit Insurance Corporation (FDIC) has issued a final rule to revise its regulations regarding brokered deposits and interest rate restrictions for less than well-capitalized banks. For brokered deposits, the rule creates a new framework to determine what qualifies as a "deposit broker," including an evaluation of what it means to "facilitate," and introduces several designated exceptions that qualify for this exception without requiring an application. For interest rate restrictions, the FDIC has updated how it calculates the national and local rate caps that less than well-capitalized banks can offer on deposits, aiming to ensure these caps more accurately reflect market conditions. The rule aims to provide clarity to banks while still promoting safety and soundness in their operations.

In the Federal Register, the Securities and Exchange Commission (SEC) announced it has no objections to the Fixed Income Clearing Corporation's (FICC) proposal to enhance its system for settling trades in U.S. Treasury securities. The proposal includes expanding FICC's central counterparty services to cover both the start and end of same-day repurchase agreements known as "repos," which aims to reduce settlement fails and improve efficiency. Additionally, FICC introduced a Pair-Off Service to help members settle their failed obligations more efficiently, minimizing market risks by allowing them to resolve these by the end of each day. The changes are expected to support financial stability by reducing systemic risks and promoting effective risk management.

The Bureau of Land Management (BLM) plans to sell 11 parcels of public land, totaling 89.35 acres, in the Las Vegas Valley, Nevada, through a modified competitive sale process. Each parcel will be sold for at least its fair market value, and interested parties must register and participate in an online auction via the EnergyNet website starting March 18, 2025. The sale is governed by multiple federal laws and regulations, and buyers are responsible for complying with all applicable laws and securing necessary approvals for land use. The sale integrates environmental considerations to ensure compliance with relevant environmental laws.

The Office of the Comptroller of the Currency (OCC) is inviting public comments on the renewal of an information collection related to "Market Risk," as part of its ongoing effort to reduce paperwork and respondent burden, in line with the Paperwork Reduction Act of 1995. According to this rule, national banks and federal savings associations with significant market risk exposure are required to adhere to specific guidelines for managing and disclosing this risk. Public comments on the necessity, accuracy, and ways to improve the information collection process are due by June 17, 2025. The OCC aims to ensure that these financial institutions maintain sufficient capital adequacy for their market risk level through these regulations.

The Coast Guard has issued a final rule to establish a Regulated Navigation Area (RNA) on the Cuyahoga River in Cleveland, Ohio, to ensure safety during a bank stabilization construction project. Starting December 2, 2024, until July 11, 2025, vessel speeds will be limited, and access to the RNA will be restricted during construction hours unless permitted by the Captain of the Port. The rule aims to minimize risks to both vessels and construction workers, while also providing exceptions for small entities, and has been reviewed to ensure compliance with various federal regulations and executive orders.

The U.S. Department of Labor has announced a proposed exemption allowing certain asset managers affiliated with the Royal Bank of Canada (RBC) to continue managing retirement plans, despite a conviction against RBC's Bahamas division for aiding tax fraud in France. The exemption, if granted, would last from March 2025 to March 2030, provided RBC meets specific protective conditions. The decision is driven by the need to avoid disruptions and additional costs for retirement plan clients, as well as to maintain fair investment practices. Public comments on this proposal are invited before March 2025.

The U.S. Trade Representative has concluded that Vietnam's actions and policies related to currency valuation are problematic for U.S. commerce. They determined that Vietnam's management of its currency, particularly through excessive foreign exchange market interventions, gives it an unfair advantage in international trade. These practices were found to be unreasonable, burden or restrict U.S. trade, and therefore can be addressed under Section 301 of the Trade Act of 1974. The U.S. is considering further actions to address these issues.

The Coast Guard issued a temporary rule, effective from February 9, 2021, until March 15, 2021, establishing a safety zone on the Lower Mississippi River between mile markers 330 and 360. This safety zone prohibits entry to protect people and property from potential hazards due to the US Army Corps of Engineers' operations in the area. Entry is only allowed with permission from the Captain of the Port Sector Lower Mississippi River or a designated representative, and boaters can request access via VHF-FM radio or telephone. The Coast Guard will inform the public about the enforcement via notices and bulletins.