Search Results for type:"Rule"

The Internal Revenue Service (IRS) has finalized new rules identifying certain micro-captive insurance arrangements as either listed transactions or transactions of interest. These rules aim to increase transparency in tax reporting and discourage abusive tax practices by requiring involved parties to disclose these transactions. If a micro-captive elects certain tax benefits but also participates in financing benefiting related parties, it may qualify as a listed transaction if specific criteria are met, such as low claim activity relative to premiums. The rules, set to take effect in January 2025, include exemptions and allow participants to avoid added reporting if they make certain changes, like revoking tax elections.

The Coast Guard is implementing a permanent safety zone in the waters around Bahia de Ponce, Ponce, Puerto Rico. This safety zone is designed to protect lives during ship-to-ship transfers of liquefied gas, preventing any unauthorized persons or vessels from entering the zone while these operations are active. The safety zone extends 100 yards from the transfer location, and access is only permitted with permission from the Captain of the Port San Juan or a designated Coast Guard official. This new rule becomes effective on March 5, 2021, and aims to ensure navigational safety in this busy maritime area.

The Consumer Financial Protection Bureau has amended Regulation Z, which implements the Truth in Lending Act, to introduce a new exemption so certain depository institutions and credit unions no longer need to create escrow accounts for higher-priced mortgage loans. To qualify for this exemption, institutions must have assets of $10 billion or less and fewer than 1,000 such loans from the previous year, and meet other criteria like operating in rural or underserved areas. The final rule, effective February 17, 2021, aims to reduce regulatory burdens on smaller institutions while maintaining consumer protection standards.

The Coast Guard has established 55 temporary safety zones around the construction of wind energy facilities for the Empire Wind 1 project, located offshore from Long Island, New York. These zones, each extending 500 meters from the facility's center point, aim to protect life, property, and the environment during construction, which may begin as early as March 2025 and continue through February 2028. During enforcement, only authorized vessels are allowed within these safety zones, and mariners will be notified of enforcement periods through various communication channels. This action was implemented following regulatory processes and public comments, focusing solely on safety rather than the wind energy projects themselves.

The Commodity Futures Trading Commission (CFTC) has adopted a final rule that establishes two exemptions from the requirement to execute certain swaps on regulated trading platforms. Swaps that qualify for clearing exemptions under existing regulations can now also be exempt from this execution requirement. Additionally, swaps made between eligible affiliate counterparties can be exempted from being executed on these platforms, even if these swaps are cleared. This rule aims to reduce unnecessary costs and enhance flexibility for specific types of swap transactions.

The Securities and Exchange Commission (SEC) has adopted new rules and amendments to enhance the security and management of accounts on their EDGAR system, referred to as "EDGAR Next." These changes, effective March 2025, require filers to authorize specific individuals as account administrators using credentials obtained through a government service called Login.gov. Filers must also keep their account information accurate and perform an annual confirmation. Additionally, the SEC will offer optional APIs for more efficient electronic submissions and account management.

The Federal Aviation Administration (FAA) has issued a new rule that affects certain Airbus Canada Limited Partnership airplanes, models BD-500-1A10 and BD-500-1A11. This rule responds to reports of incorrectly installed fuel line assemblies, which could lead to fuel leaks and pose a fire risk. The rule requires inspecting these fuel line assemblies and making necessary repairs as detailed in a Transport Canada directive. The aim is to ensure the safety and reliability of these aircrafts by addressing this potential hazard.

The Environmental Protection Agency (EPA) has established new greenhouse gas (GHG) emission standards for specific types of airplanes and their engines, aligning with international standards set by the International Civil Aviation Organization (ICAO). These standards apply to certain civil jet and larger propeller airplanes, aiming to reduce air pollution and meet the 2016 findings on aircraft emissions. The rule covers new type design airplanes from 2021 and in-production airplanes from 2028, but will not require major changes since most airplanes will already comply with the standards. This action helps U.S. airplane manufacturers remain competitive internationally by ensuring their products meet global emission requirements.

The National Marine Fisheries Service (NMFS) of NOAA has announced that Rhode Island's 2024 commercial quota for summer flounder has been fully harvested. From December 5, 2024, federally permitted vessels are prohibited from landing summer flounder in Rhode Island unless additional quota is acquired from another state. This temporary closure aligns Rhode Island with federal conservation measures to prevent overfishing and maintain sustainable fishery practices. The closure is enacted immediately to ensure the state's commercial quota is not exceeded before the year ends.

The Securities and Exchange Commission (SEC) has adopted technical amendments to fix various errors in rules and forms under the Securities Act of 1933 and the Securities Exchange Act of 1934. These changes aim to correct typographical mistakes and outdated references in the existing regulations. The updated guidelines aim to ensure the accuracy and currency of legal references and cross-references in SEC regulations and forms. These amendments will take effect on February 18, 2025.