Federal Regulatory Agencies
Here's a look at documents from federal regulatory agencies
Featured Stories
USITC Makes Determinations in Five-Year (Sunset) Reviews Concerning Lightweight Thermal Paper from China
WASHINGTON, Dec. 23 -- The U.S. International Trade Commission issued the following news release:
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USITC Makes Determinations in Five-Year (Sunset) Reviews Concerning Lightweight Thermal Paper from China
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Bulletin 25-079
Inv. No(s). 701-TA-451, 731-TA-1126
Contact: Jennifer Andberg, 202-205-1819
The U.S. International Trade Commission has made affirmative determinations in its expedited five-year (sunset) reviews concerning lightweight thermal paper from China.
Note to users: This bulletin will be replaced by the news release when the release is available. News releases are
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WASHINGTON, Dec. 23 -- The U.S. International Trade Commission issued the following news release:
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USITC Makes Determinations in Five-Year (Sunset) Reviews Concerning Lightweight Thermal Paper from China
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Bulletin 25-079
Inv. No(s). 701-TA-451, 731-TA-1126
Contact: Jennifer Andberg, 202-205-1819
The U.S. International Trade Commission has made affirmative determinations in its expedited five-year (sunset) reviews concerning lightweight thermal paper from China.
Note to users: This bulletin will be replaced by the news release when the release is available. News releases aregenerally issued approximately three hours after a Commission vote.
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Original text here: https://www.usitc.gov/press_room/news_release/2025/er1223_67898.htm
NCUA Announces Second Round of Deregulation Proposals
ALEXANDRIA, Virginia, Dec. 23 -- The National Credit Union Administration issued the following news release:
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NCUA Announces Second Round of Deregulation Proposals
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Stakeholders Are Encouraged to Review Notice of Proposed Rulemakings and Submit Comments
ALEXANDRIA, VA (December 23, 2025) - The National Credit Union Administration today announced the second round of proposed regulatory changes associated with NCUA's Deregulation Project. The project is an ongoing review of NCUA's regulations to ensure regulations are focused on credit unions' safety, soundness, and resilience. The agency
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ALEXANDRIA, Virginia, Dec. 23 -- The National Credit Union Administration issued the following news release:
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NCUA Announces Second Round of Deregulation Proposals
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Stakeholders Are Encouraged to Review Notice of Proposed Rulemakings and Submit Comments
ALEXANDRIA, VA (December 23, 2025) - The National Credit Union Administration today announced the second round of proposed regulatory changes associated with NCUA's Deregulation Project. The project is an ongoing review of NCUA's regulations to ensure regulations are focused on credit unions' safety, soundness, and resilience. The agencyis focused on removing or revising regulations that are: obsolete; overly burdensome; duplicative of other requirements; or guidance.
With today's announcement, NCUA is requesting comments on four proposals that would clarify agency guidance or eliminate unduly burdensome or obsolete requirements in the Code of Federal Regulations.
The four proposals include:
* Changes for Surety and Guarantor Requirements - 12 CFR 701.20(c)(3) and 701.20(d)
* NCUA is proposing changes to segregated deposit and collateral requirements.
* For more information on this proposal, please see: This is an external link to a website belonging to another federal agency, private organization, or commercial entity. https://www.federalregister.gov/public-inspection/2025-23857/suretyship-and-guaranty-segregated-deposit-and-collateral (Opens new window)
* Changes for Limits on Loans to Other Credit Unions - 12 CFR 701.25(b)
* NCUA is proposing to remove a requirement that is duplicative of statute and unduly burdensome regarding loans to credit unions.
* For more information on this proposal, please see: This is an external link to a website belonging to another federal agency, private organization, or commercial entity. https://www.federalregister.gov/public-inspection/2025-23855/limits-on-loans-to-other-credit-unions (Opens new window)
* Changes for Catastrophic Reporting - 12 CFR 748.1(b)
* NCUA is proposing changes related to catastrophic act reporting.
* For more information on this proposal, please see: This is an external link to a website belonging to another federal agency, private organization, or commercial entity. https://www.federalregister.gov/public-inspection/2025-23856/catastrophic-act-reporting (Opens new window)
* Changes for Accuracy of Advertising and Notice of Insured Status - 12 CFR 740.0 and 740.5
* NCUA is proposing to remove overly prescriptive, obsolete requirements related to advertising.
* For more information on this proposal, please see: This is an external link to a website belonging to another federal agency, private organization, or commercial entity. https://www.federalregister.gov/public-inspection/2025-23854/accuracy-of-advertising-and-notice-of-insured-status (Opens new window)
Proposed Regulation Change Obsolete Regulations Overly Burdensome Requirements Duplicative of Statute Guidance
Proposed Regulation Change
12 CFR 701.20(c)(3), 701.20(d) Surety and Guarantor Requirements
Obsolete Regulations
Yes
Overly Burdensome Requirements
Yes
Duplicative of Statute
Guidance
Proposed Regulation Change
12 CFR 701.25(b) Limits on Loans to Other Credit Unions
Obsolete Regulations
Overly Burdensome Requirements
Yes
Duplicative of Statute
Yes
Guidance
Proposed Regulation Change
12 CFR 748.1(b) Catastrophic Act Reporting
Obsolete Regulations
Overly Burdensome Requirements
Yes
Duplicative of Statute
Guidance
Proposed Regulation Change
12 CFR 740.0 and 740.5 Accuracy of Advertising and Notice of Insured Status
Obsolete Regulations
Yes
Overly Burdensome Requirements
Yes
Duplicative of Statute
Guidance
To submit comments, type or paste the docket numbers into the search on the This is an external link to a website belonging to another federal agency, private organization, or commercial entity. Federal Rulemaking Portal (Opens new window).
For more information about the NCUA Deregulation Project, visit: https://ncua.gov/news/deregulation-project
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Original text here: https://ncua.gov/newsroom/press-release/2025/ncua-announces-second-round-deregulation-proposals
FCC Updates Covered List to Include Foreign UAS and UAS Critical Components on Going Forward Basis
WASHINGTON, Dec. 23 -- The Federal Communications Commission issued the following news release:
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FCC Updates Covered List to Include Foreign UAS and UAS Critical Components on Going Forward Basis
Decision Helps Restore Our Airspace Sovereignty and Unleash American Drone Dominance Without Disrupting Ongoing Use of Previously Authorized Drones
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As President Trump stated in the Restoring American Airspace Sovereignty Executive Order, unmanned aircraft systems (UAS), otherwise known as drones, offer the potential to greatly enhance public safety and innovation. At the same time, criminals,
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WASHINGTON, Dec. 23 -- The Federal Communications Commission issued the following news release:
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FCC Updates Covered List to Include Foreign UAS and UAS Critical Components on Going Forward Basis
Decision Helps Restore Our Airspace Sovereignty and Unleash American Drone Dominance Without Disrupting Ongoing Use of Previously Authorized Drones
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As President Trump stated in the Restoring American Airspace Sovereignty Executive Order, unmanned aircraft systems (UAS), otherwise known as drones, offer the potential to greatly enhance public safety and innovation. At the same time, criminals,hostile foreign actors, and terrorists can use them to present new and serious threats to our homeland. As the United States prepares to host several mass-gathering events, including the 2026 FIFA World Cup, America250 celebrations, and the 2028 LA Summer Olympics, the federal government is taking additional actions to safeguard Americans and restore American airspace sovereignty.
Additionally, as President Trump's Unleashing American Drone Dominance Executive Order and National Security Strategy outlined, ensuring a strong and resilient drone industrial base is an economic and national security priority. Relying on foreign-made UAS threatens national security.
Yesterday, following a thorough review by an Executive Branch interagency body with appropriate national security expertise that was convened by the White House, the FCC received a specific determination that UAS and UAS critical component parts that are produced in foreign countries pose "unacceptable risks to the national security of the United States and to the safety and security of U.S. persons" and should be included on the FCC's Covered List, unless the Department of War or the Department of Homeland Security makes a specific determination to the FCC that a given UAS, class of UAS, or UAS critical component does not pose such risks. The determination includes the equipment and services listed in Section 1709 of the FY25 National Defense Authorization Act.
Therefore, consistent with this National Security Determination, the FCC updated the Covered List to include UAS and UAS critical components produced abroad.
As specified below, today's decision does not impact a consumer's ability to continue using drones they previously purchased or acquired. Nor does today's decision prevent retailers from continuing to sell, import, or market device models approved earlier this year or previously through the FCC's equipment authorization process. By operation of the FCC's Covered List rules, the restrictions imposed by today's decision apply to new device models.
Chairman Carr issued the following statement:
"I welcome this Executive Branch national security determination, and I am pleased that the FCC has now added foreign drones and related components, which pose an unacceptable national security risk, to the FCC's Covered List. Following President Trump's leadership, the FCC will work closely with U.S. drone makers to unleash American drone dominance."
Additional Background:
* The FCC's Covered List is a list of communications equipment and services that are deemed to pose an unacceptable risk to the national security of the U.S. or the safety and security of U.S. persons.
* Under the Secure and Trusted Communications Networks Act, the Commission can update the Covered List only at the direction of national security authorities. In other words, the Commission cannot update this list on its own and is required to implement determinations that are made by our national security agency experts.
* Equipment on the Covered List ("covered" equipment) is prohibited from getting FCC equipment authorization. Most wireless devices require FCC equipment authorization prior to importation, marketing, or sale in the U.S. Covered equipment is banned from receiving new equipment authorizations, preventing new devices from entering the U.S. market.
* The Cybersecurity and Infrastructure Security Agency encourages organizations to use the Covered List for risk management analysis in their regulatory compliance efforts.
* In their determination, national security agencies referenced, among other things, concerns that that foreign-made UAS could be used for attacks and disruptions, unauthorized surveillance, sensitive data exfiltration, and other UAS threats to the homeland. Additionally, the determination noted that reliance on such devices unacceptably undermines the U.S. drone industrial base.
What does this mean?
* New devices on the Covered List, such as foreign-made drones, are prohibited from receiving FCC authorization and are therefore prohibited from being imported for use or sale in the U.S. This update to the Covered List does not prohibit the import, sale, or use of any existing device models the FCC previously authorized.
* This action does not affect any previously-purchased drone. Consumers can continue to use any drone they have already lawfully purchased or acquired. \
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Original text here: https://docs.fcc.gov/public/attachments/DOC-416839A1.pdf
SEC Charges Three Purported Crypto Asset Trading Platforms and Four Investment Clubs with Scheme That Targeted Retail Investors on Social Media
WASHINGTON, Dec. 22 -- The Securities and Exchange Commission issued the following news release:
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SEC Charges Three Purported Crypto Asset Trading Platforms and Four Investment Clubs with Scheme That Targeted Retail Investors on Social Media
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The Securities and Exchange Commission today filed charges against purported crypto asset trading platforms Morocoin Tech Corp., Berge Blockchain Technology Co. Ltd., and Cirkor Inc. and investment clubs AI Wealth Inc., Lane Wealth Inc., AI Investment Education Foundation Ltd., and Zenith Asset Tech Foundation alleging that they defrauded retail
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WASHINGTON, Dec. 22 -- The Securities and Exchange Commission issued the following news release:
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SEC Charges Three Purported Crypto Asset Trading Platforms and Four Investment Clubs with Scheme That Targeted Retail Investors on Social Media
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The Securities and Exchange Commission today filed charges against purported crypto asset trading platforms Morocoin Tech Corp., Berge Blockchain Technology Co. Ltd., and Cirkor Inc. and investment clubs AI Wealth Inc., Lane Wealth Inc., AI Investment Education Foundation Ltd., and Zenith Asset Tech Foundation alleging that they defrauded retailinvestors out of more than $14 million in an elaborate investment confidence scam.
"This matter highlights an all-too-common form of investment scam that is being used to target U.S. retail investors with devastating consequences. Our complaint alleges a multi-step fraud that attracted victims with ads on social media, built victims' trust in group chats where fraudsters posed as financial professionals and promised profits from AI-generated investment tips, then convinced victims to put their money into fake crypto asset trading platforms where it was misappropriated," said Laura D'Allaird, Chief of the Cyber and Emerging Technologies Unit. "Fraud is fraud, and we will vigorously pursue securities fraud that harms retail investors."
According to the complaint, from at least January 2024 to January 2025, AI Wealth, Lane Wealth, AIIEF, and Zenith operated so-called investment clubs using WhatsApp and solicited investors to join the clubs with ads on social media. The clubs gained investors' confidence with supposedly AI-generated investment tips before luring investors to open and fund accounts on purported crypto asset trading platforms Morocoin, Berge, and Cirkor, which falsely claimed to have government licenses, as alleged. The investment clubs and platforms then allegedly offered "Security Token Offerings" that were purportedly issued by legitimate businesses. In reality, no trading took place on the trading platforms, which were fake, and the Security Token Offerings and their purported issuing companies did not exist, according to the complaint. When investors tried to withdraw their funds, the complaint alleges that the defendants further defrauded victims by demanding that they pay advance fees. In all, the defendants misappropriated at least $14 million from U.S.-based retail investors and funneled those funds overseas through a web of bank accounts and crypto asset wallets, as alleged.
The complaint, filed in the United States District Court for the District of Colorado, charges the defendants with violating the anti-fraud provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934. The SEC seeks permanent injunctions and civil penalties against all of the defendants, and disgorgement with prejudgment interest against Morocoin, Berge, and Cirkor.
The SEC's Office of Investor Education and Assistance has issued an investor alert warning investors that fraudsters may use popular social media platforms and messaging apps to lure investors into scams, and never to rely solely on information from group chats in making investment decisions. The SEC encourages investors to use Investor.gov to check the background of anyone offering or selling them an investment.
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Original text here: https://www.sec.gov/newsroom/press-releases/2025-144-sec-charges-three-purported-crypto-asset-trading-platforms-four-investment-clubs-scheme-targeted
FTC Warns 10 Companies About Possible Violations of the Agency's New Consumer Review Rule
WASHINGTON, Dec. 22 -- The Federal Trade Commission issued the following news release:
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FTC Warns 10 Companies About Possible Violations of the Agency's New Consumer Review Rule
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Federal Trade Commission staff sent letters to 10 companies, warning them of potential violations of the agency's Consumer Review Rule, which prohibits certain deceptive or unfair conduct related to the use of product reviews in advertising and marketing.
"Fake or false consumer reviews are detrimental to consumers' ability to make accurate and informed choices about the products they are buying - something
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WASHINGTON, Dec. 22 -- The Federal Trade Commission issued the following news release:
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FTC Warns 10 Companies About Possible Violations of the Agency's New Consumer Review Rule
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Federal Trade Commission staff sent letters to 10 companies, warning them of potential violations of the agency's Consumer Review Rule, which prohibits certain deceptive or unfair conduct related to the use of product reviews in advertising and marketing.
"Fake or false consumer reviews are detrimental to consumers' ability to make accurate and informed choices about the products they are buying - somethingof particular importance during the holiday season," said Christopher Mufarrige, Director of the FTC's Bureau of Consumer Protection. "As consumers increasingly depend on online reviews, the FTC is committed to ensuring companies comply with this Rule."
The Rule prohibits reviews and testimonials that misrepresent whether a reviewer's experience was positive or negative, or whether the reviewer used the product or service at all. It also prohibits businesses from conditioning compensation or other incentives on reviewers expressing a particular sentiment, either positive or negative, or from failing to disclose when reviews are written by company insiders or their immediate relatives. The Rule contains additional provisions relating to company-controlled review websites, suppressing certain reviews, and misusing indicators of social media influence like the number of followers or views.
The letters, which were based on consumer complaints and information provided by the companies, are not formal determinations that the recipients have violated the Consumer Review Rule. The letters, however, remind the recipients of their obligations under the Rule, and warn them that Rule violations can result in the filing of a federal lawsuit or other legal action, and civil penalties of up to $53,088 per violation.
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Original text here: https://www.ftc.gov/news-events/news/press-releases/2025/12/ftc-warns-10-companies-about-possible-violations-agencys-new-consumer-review-rule
CFTC Acting Chairman Pham Issues Statement on International Pre-Hedging Report
WASHINGTON, Dec. 22 (TNSrpt) -- The Commodity Futures Trading Commission issued the following statement on Dec. 19, 2025, by Acting Chairman Caroline D. Pham on the International Organization of Securities Commissions Pre-Hedging Report:
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As Acting Chairman of the CFTC, I welcome IOSCO's final report on pre-hedging. Pre-hedging is a well-established risk management practice, underpinned by extensive industry guidance and expertise. I am proud that the CFTC played an active role in IOSCO's efforts, contributing to the review of existing codes and practices, the survey of members and industry
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WASHINGTON, Dec. 22 (TNSrpt) -- The Commodity Futures Trading Commission issued the following statement on Dec. 19, 2025, by Acting Chairman Caroline D. Pham on the International Organization of Securities Commissions Pre-Hedging Report:
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As Acting Chairman of the CFTC, I welcome IOSCO's final report on pre-hedging. Pre-hedging is a well-established risk management practice, underpinned by extensive industry guidance and expertise. I am proud that the CFTC played an active role in IOSCO's efforts, contributing to the review of existing codes and practices, the survey of members and industryparticipants, the formal consultation process, and the stakeholder roundtables.
IOSCO's final report rightly acknowledges that individual member jurisdictions already have rules in place to address pre-hedging, complemented by industry codes and standards such as the FX Global Code, the Global Precious Metals Code, and the Financial Markets Standards Board (FMSB) Standard for execution of Large Trades in FICC markets. Importantly, IOSCO has made clear that its recommendations are designed to support existing rules and regulations, recognizing that many jurisdictional frameworks are already achieving the intended outcomes. IOSCO has also made clear that its recommendations, which apply across asset classes, align with these industry codes and standards. I believe this alignment is critical to avoid disruption of markets that are essential to the real economy, mitigate systemic risk and promote financial stability.
The publication of IOSCO's final report serves to reinforce the standards the CFTC sets for entities within our jurisdiction. For the avoidance of doubt, the views expressed in the IOSCO report reflect the CFTC's position on pre-hedging. In light of this, I do not anticipate the need for further CFTC rulemaking or guidance to address IOSCO's recommendations.
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REPORT: https://www.iosco.org/library/pubdocs/pdf/IOSCOPD805.pdf
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Original text here: https://www.cftc.gov/PressRoom/SpeechesTestimony/phamstatement121925
Acting Chairman Caroline D. Pham Announces Departure from CFTC
WASHINGTON, Dec. 22 -- The Commodity Futures Trading Commission issued the following news release:
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Acting Chairman Caroline D. Pham Announces Departure from CFTC
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WASHINGTON Commodity Futures Trading Commission Acting Chairman Caroline D. Pham today announced her departure from public service. Her last day at the Commission will be December 22, 2025.
Pham was sworn in as a CFTC Commissioner on April 14, 2022, after being nominated by the President and unanimously confirmed by the U.S. Senate. She was designated as the CFTC's Acting Chairman on January 20, 2025, following the inauguration
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WASHINGTON, Dec. 22 -- The Commodity Futures Trading Commission issued the following news release:
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Acting Chairman Caroline D. Pham Announces Departure from CFTC
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WASHINGTON Commodity Futures Trading Commission Acting Chairman Caroline D. Pham today announced her departure from public service. Her last day at the Commission will be December 22, 2025.
Pham was sworn in as a CFTC Commissioner on April 14, 2022, after being nominated by the President and unanimously confirmed by the U.S. Senate. She was designated as the CFTC's Acting Chairman on January 20, 2025, following the inaugurationof President Donald J. Trump.
"It has been the honor of a lifetime to lead the CFTC during such a historic moment for market structure and innovation," said Acting Chairman Pham. "I am incredibly proud of the CFTC and all its dedicated staff for their hard work and commitment this year to deliver on our pledge to get back to basics and regular order. As I said at the beginning of the year, as the CFTC celebrates our 50 th anniversary, we have always served our mission to promote market integrity and liquidity in the commodity derivatives markets that are critical to the real economy and global trade ensuring American growers, producers, merchants, and other commercial end-users can mitigate risks to their business and support strong U.S. economic growth.
"This year, we also refocused on our mandate to promote responsible innovation and fair competition as the CFTC prepares to take on expanded oversight of new markets and new products like digital assets, crypto, and prediction markets. I am deeply grateful for the CFTC's expertise, experience, and care in safeguarding the public's trust while championing progress, growth, and access to markets. I am thrilled to welcome Michael Selig as the 16 th Chairman of the CFTC. His pragmatic, common sense approach will ensure the CFTC strikes the right balance of innovation and market integrity."
During Acting Chairman Pham's tenure at the CFTC, she has been a champion for good government, proposing and implementing a number of reforms to protect Constitutional rights and promote due process and transparency. Pham's decisive leadership delivered results this year on providing regulatory clarity, right-sizing regulations, promoting innovation, ending regulation by enforcement, and modernizing the CFTC's operations for both efficiency and effectiveness.
Accomplishments include addressing longstanding Dodd-Frank Act issues and swaps regulation, issuing a comprehensive framework for self-reporting and cooperation in enforcement actions and referrals for non-compliance issues, and enabling innovation in market structure, such as perpetual contracts, 24/7 trading, and prediction markets. Pham launched the CFTC's Crypto Sprint to implement the President's Working Group on Digital Asset Markets report recommendations, achieving historic milestones such as listed spot crypto trading on CFTC-registered futures exchanges, digital asset markets pilot program, tokenized collateral guidance, and the CFTC Crypto CEO Forum and CEO Innovation Council.
Her CFTC modernization efforts include deploying the CFTC's first automated market surveillance system, saving nearly $50 million in annualized costs, and restructuring the CFTC's organization and operations to maximize efficiency and effectiveness. Pham's efforts to reduce regulatory burdens to promote U.S. economic growth has resulted in unlocking many tens of billions of dollars of capital and collateral regulatory relief and saving an estimate of hundreds of millions of dollars annually for market participants, as well as launching a pilot program to increase liquidity and hedging in energy markets and deliver potentially billions in energy savings.
-CFTC-
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Original text here: https://www.cftc.gov/PressRoom/PressReleases/9163-25
