📉Removal of Annuity Provider Regulation
This direct final rule (DFR) removes 29 CFR 2550.404a-4 from the Code of Federal Regulations, which is a regulation published in 2008 that provides a fiduciary safe harbor for the selection of annuity providers for the purpose of benefit distributions from individual account retirement plans covered by title I of the Employee Retirement Income Act of 1974 (ERISA). The regulatory safe harbor became unnecessary in 2019 when Congress amended ERISA to add a more streamlined fiduciary safe harbor covering the same activity. Although the statutory safe harbor did not technically nullify or repeal the regulatory safe harbor, its existence offers an unnecessary and inefficient alternative and may inadvertently be a trap for the unwary. This action improves the daily lives of the American people by reducing unnecessary, burdensome, and costly Federal regulations.
Learn More📜DOL Finalizes Removal of Obsolete Insurance Regulation
This DFR removes 29 CFR 2550.401c-1 from the Code of Federal Regulations, which the Department of Labor (DOL) believes is obsolete. The regulation applies only to certain insurance policies or contracts issued to (or on behalf of) employee benefit plans on or before December 31, 1998. Given the unlikelihood that any of these policies or contracts remain in effect, the DOL believes the regulation is no longer needed and, if left on the books, could add confusion and unnecessary complexity. Removing obsolete regulations eliminates the burden on the public of having to determine whether they need to comply with the regulations. This action is being taken pursuant to Executive Order 14192, titled Unleashing Prosperity Through Deregulation.\1\ This action improves the daily lives of the American people by reducing unnecessary, burdensome, and costly Federal regulations. ---------------------------------------------------------------------------
Learn More🌎SEC Concept Release on Foreign Private Issuer Eligibility Overview
The Securities and Exchange Commission ("Commission") is publishing this concept release to solicit comments on the definition of a foreign private issuer ("FPI"). There have been several developments within the FPI population since the Commission last conducted a broad review of reporting FPIs and the eligibility criteria for FPI status. These developments have prompted us to consider whether the current FPI definition should be revised so that it better represents the issuers that the Commission intended to benefit from current FPI accommodations while continuing to protect investors and promote capital formation.
Learn More📈SEC Reviews Grayscale Ethereum Trust ETF Staking Proposal
The SEC is considering a proposed rule change by NYSE Arca to amend the listing and trading rules for the Grayscale Ethereum Trust ETFs, allowing staking of ether held by the trusts. The proposal aims to allow the Trusts to potentially enhance returns while maintaining existing compliance standards. The SEC invites public comments to further analyze the implications of this change.
Learn More📈SEC Notice on Proposed Rule for Canary Staked TRX ETF
The Securities and Exchange Commission published a notice regarding the proposed rule change for Cboe BZX Exchange to list and trade shares of the Canary Staked TRX ETF. The proposed ETF aims to provide investors with regulated access to TRX, a significant cryptocurrency, fostering innovation and market development within the financial landscape.
Learn More💹SEC Reviews Proposed Rule for In-Kind Bitcoin and Ethereum Funds
The SEC is assessing a proposed rule change by Cboe BZX Exchange to amend the listing and trading rules for Fidelity's Bitcoin and Ethereum Funds. This proposal seeks to enable in-kind creations and redemptions, which are critical for fund management strategies and compliance within the cryptocurrency market. The Commission is inviting public comments on these changes.
Learn More📈SEC Notice on Cboe BZX Exchange ETF Rule Change
The SEC has announced a designation of an extended period to consider a proposed rule change by Cboe BZX Exchange concerning the listing and trading of Multi-Class ETF Shares. This follows prior publications and amendments, reiterating the commission's commitment to thoroughly evaluate the implications of this rule change on the financial markets.
Learn Moreâš¡Combined Notice of Electric Corporate Filings from DOE
The Department of Energy announces multiple filings related to electric corporate activities, including applications for authorization and self-certification of exempt wholesale generator statuses. The document outlines important details such as docket numbers, applicants, filing descriptions, and deadlines for comments, playing a critical role in guiding stakeholder participation in regulatory processes.
Learn More📈SEC Proposal for Staking in Franklin Crypto Index ETF
The SEC published a notice regarding Cboe BZX Exchange's proposed rule change to allow staking of ether held by the Franklin Crypto Index ETF. This amendment aims to enhance profitability for the Fund, enabling it to earn staking rewards, ultimately benefiting investors through improved financial returns and greater operational flexibility.
Learn More📈SEC Extends Review Period for ARK 21Shares Bitcoin ETF Rule Change
The SEC has designated a longer period to review the proposed rule changes for the ARK 21Shares Bitcoin ETF and 21Shares Core Ethereum ETF, which include provisions for in-kind creations and redemptions. This extension allows the Commission additional time to consider potential implications and feedback on the amendments to the trading rules governing these ETFs.
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