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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 Public Company Accounting Oversight Board (PCAOB) has introduced proposed rules requiring certain registered public accounting firms to report firm- and engagement-level metrics on their audit practices. These metrics will provide stakeholders like investors and audit committees with valuable insights into audit processes, helping them make informed decisions. The metrics cover areas such as partner and manager involvement, workload, training, and retention of audit personnel. The PCAOB believes this initiative will enhance investor protection and foster transparency by offering more consistent and comparable information about audits and auditors.

The Securities and Exchange Commission (SEC) is requesting the Office of Management and Budget (OMB) to extend its approval for the collection of information through Form 11-K. This form is used by employee stock purchase and savings plans to meet reporting requirements under the Securities and Exchange Act. It provides financial information to help employees assess their investment plans. The SEC estimates that there are about 941 filings annually, each taking 95.81 internal burden hours and costing approximately $7,525. The public can view and comment on this request for extension until April 21, 2025.

The National Credit Union Administration (NCUA) is revising its Call Report, Form 5300, which credit unions use to submit quarterly financial and statistical data. The changes, influenced by public comments, include the removal of certain accounts and the addition of new ones to improve monitoring of credit union activities. Notable revisions involve reporting on loans to officials, assets pledged, and maturity distribution of uninsured shares, with some proposals adjusted based on feedback. The updates aim to enhance oversight while managing the reporting burden and are scheduled to be effective by March 31, 2025.

The National Credit Union Administration (NCUA) is announcing a notice of submission to the Office of Management and Budget (OMB) regarding the renewal of their information collection practices under the Paperwork Reduction Act of 1995. This involves collecting data from federally insured credit unions (FICUs) that must request approval before purchasing assets or assuming liabilities from other institutions. The public is invited to comment on this collection process, focusing on the need, accuracy, and ways to improve this data collection process. Comments should be submitted by January 27, 2025, to ensure they are considered.

The Securities and Exchange Commission (SEC) is asking for public comments on a rule called Rule 10A-1, which is part of the Securities Exchange Act of 1934. This rule requires certain companies to report to the SEC if their auditors find serious financial problems that the company's management has not fixed promptly. Although this reporting requirement has been in place since the mid-1990s, its approval by the Office of Management and Budget expired in 2021, so the SEC seeks to renew this approval. The SEC estimates that the total additional burden of this rule is about 5 hours per year for the companies involved, and they invite public comments on how to improve or reduce this burden.

The Agricultural Marketing Service of the Department of Agriculture has finalized a rule making clarifying changes to the Paper and Paper-Based Packaging Promotion, Research, and Information Order. These changes update definitions and processes such as nominations, voting methods for Board meetings, financial reporting, and when exemptions can be requested, to better align with current industry practices. The updates also address how partnerships are recognized and clarify the obligations for paying assessments. Despite some mixed feedback during the public comment period, the rule aims to reduce confusion and improve fairness in the paper and paper-based packaging industry.

In response to requests from industry participants, the Securities and Exchange Commission (SEC) has announced a temporary exemption for institutional investment managers from complying with Rule 13f-2 and Form SHO reporting requirements. Originally set to start on January 2, 2025, the compliance date has been extended to January 2, 2026, giving these managers additional time to adjust their systems and address any operational challenges. This decision was made to ensure the accuracy of the information that will be shared with investors. The SEC believes this extension will help achieve the goals of transparency and accurate data reporting, while balancing the preparation needs of the industry.

The Board of Governors of the Federal Reserve System has adopted a proposal to extend and revise several financial reporting forms for U.S. banking organizations with foreign subsidiaries and certain foreign banking organizations. These revisions, which take effect on March 31, 2025, are intended to align with updated accounting standards and reduce regulatory burdens. The revisions include changes to the Financial Statements of Foreign Subsidiaries (FR 2314/S), U.S. Nonbank Subsidiaries (FR Y-11/S), Reports of Foreign Banking Organizations (FR Y-7N/NS/Q), and related forms, to ensure better monitoring and assessment of financial conditions. Public comments were considered, leading to some modifications in the plan, such as adjustments to reporting scope and the timing for implementing new requirements.

The Agricultural Marketing Service of the USDA announced a delay in the effective date of a rule regarding the Paper and Paper-Based Packaging Promotion, Research, and Information Order. Originally set to take effect on January 21, 2025, the rule is now postponed until March 21, 2025. This delay allows for further review of the amendments, which clarify various processes like partnership definitions, nomination procedures, and voting formats for board meetings, along with financial reporting timelines. The postponement aligns with a presidential directive for regulatory review.