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📊New Financial Reporting Requirements for U.S. Banking Subsidiaries

The Board of Governors of the Federal Reserve System (Board) is adopting a proposal to extend for three years, with revision, the Financial Statements of Foreign Subsidiaries of U.S. Banking Organizations, Financial Statements of U.S. Nonbank Subsidiaries of U.S. Holding Companies, (FR 2314/S, FR Y-11/S; OMB No. 7100-0073) and the Reports of Foreign Banking Organizations (FR Y-7N/NS/Q; OMB No. 7100-0125).

📊Regulatory Notice on Child Care Improper Payments Data Collection

The Administration for Children and Families is proposing revisions to an approved information collection, the Child Care Improper Payments Data Collection Instructions (OMB #0970-0323, expiration 1/31/2025). In addition to the proposed changes, we are requesting a 3-year extension.

📊Proposed Comment Request on Regulation TT Reporting Requirements

The Board of Governors of the Federal Reserve System (Board) invites comment on a proposal to extend for three years, without revision, the Reporting Requirements Associated with Regulation TT (FR TT; OMB No. 7100-0369).

🏛️Quarterly Publication of Individuals Choosing to Expatriate

This notice from the IRS provides a list of individuals who have chosen to expatriate, referencing compliance with IRC section 6039G. It details the legal framework affecting U.S. citizens and long-term residents regarding expatriation, emphasizing the importance of regulatory compliance for businesses and individuals in managing tax obligations.

📝IRS Seeks Comments on Form 7203 Information Collection Request

The Internal Revenue Service, as part of its continuing effort to reduce paperwork and respondent burden, invites the public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995. Currently, the IRS is soliciting comments concerning the burden for completing the form 7203, S Corporation Shareholder Stock and Debt Basis Limitations.

📈SEC Updates EDGAR Filer Manual

The Securities and Exchange Commission ("Commission") is adopting amendments to Volume II of the Electronic Data Gathering, Analysis, and Retrieval system Filer Manual ("EDGAR Filer Manual" or "Filer Manual") and related rules and forms. EDGAR Release 24.4 will be deployed in the EDGAR system on December 16, 2024.

📊SEC Rescinds Guidance on Crypto-Assets - SAB 122 Insights

This staff accounting bulletin ("SAB") rescinds the interpretive guidance included in Section FF of Topic 5 in the Staff Accounting Bulletin Series entitled Accounting for Obligations to Safeguard Crypto-Assets an Entity Holds for its Platform Users ("Topic 5.FF").

📊Treasury Data Collection on Foreign Security Holdings Notice

The Department of the Treasury will submit the following information collection requests to the Office of Management and Budget (OMB) for review and clearance in accordance with the Paperwork Reduction Act of 1995, on or after the date of publication of this notice. The public is invited to submit comments on these requests.

📊SEC Proposes Extension of Regulation FD Information Collection

📜Clarifying Changes to Paper Packaging Promotion Regulation

This final rule implements clarifying amendments to the Paper and Paper-Based Packaging Promotion, Research and Information Order (Order). The amendments include an added definition for partnership; clarification of the nominations process; clarification about in person and electronic voting for any Board meetings; an update of the timing of financial reporting; and a revision of requirements for when exemptions can be requested. This final rule brings language in the Order up to date with current industry practices.