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IRS Schedule 1-A for Tax Year 2025 Deductions

The IRS has published new Schedule 1-A and instructions for tax year 2025, detailing how taxpayers can claim new deductions for tips, overtime, car loans, and an enhanced deduction for seniors. These changes are part of the 'One, Big, Beautiful Bill' and aim to provide significant tax benefits to eligible individuals.

FINRA Disciplinary Actions for March 2026

FINRA has taken disciplinary actions against Independence Capital Co., Inc. and Dennis Clarence Twarogowski, resulting in fines, restitution, and suspensions for supervision failures and reporting errors. BNY Mellon Capital Markets, LLC was also fined for municipal securities reporting violations.

FINRA Fines Five Firms $585,000 for Reporting and Supervisory Violations

FINRA announced disciplinary actions against five firms in February 2026, imposing fines totaling $585,000. The actions address violations related to trade reporting accuracy, customer trade confirmations, and supervisory systems for employee outside brokerage accounts.

FINRA Fines Firms for Rule Violations

FINRA has fined two firms, SG Americas Securities, LLC and Wedbush Securities Inc., a total of $240,000 for rule violations. The violations include inaccurate reporting of order handling and failure to maintain possession or control of customer securities. These actions were reported in FINRA's January 2026 disciplinary actions.

SEC Rescinds SAB 121, Issues SAB 122 on Crypto-Asset Custody

The SEC has rescinded Staff Accounting Bulletin (SAB) 121 and issued SAB 122, which provides new guidance on accounting for crypto-asset custody obligations. This change affects how entities recognize and measure liabilities related to safeguarding crypto-assets for platform users.

SEC Staff Accounting Bulletin 120: Fair Value Guidance for Share-Based Payments

The SEC's Office of the Chief Accountant and Division of Corporation Finance have issued Staff Accounting Bulletin (SAB) 120, updating guidance on estimating the fair value of share-based payment transactions when a company possesses material non-public information. This update aligns existing interpretive guidance with current accounting standards, specifically FASB ASC Topic 718.

EPA Adds PFHxS-Na to Toxics Release Inventory

The EPA has finalized a rule adding sodium perfluorohexanesulfonate (PFHxS-Na) to the Toxics Release Inventory (TRI), bringing the total number of tracked PFAS to 206. Businesses in covered industries must now track and report releases of PFHxS-Na, with a reporting threshold of 100 lbs.

EPA Highlights PFAS Actions and Proposed TSCA Rule

The EPA highlighted its first-year actions on PFAS, including $945 million for water contamination and proposed TSCA reporting changes. The agency detailed efforts in testing, community support, and regulation to address PFAS risks.

EPA Actions on PFAS: Drinking Water, CERCLA, and Water Quality

The EPA has finalized a national drinking water standard for PFAS, designated PFOA and PFOS as hazardous substances under CERCLA, and published water quality criteria for PFAS to protect aquatic life. These actions aim to reduce PFAS exposure and improve cleanup accountability.

EPA Extends PFOA/PFOS Drinking Water Compliance Deadlines to 2031

The EPA announced it will maintain existing Maximum Contaminant Levels (MCLs) for PFOA and PFOS in drinking water but will extend compliance deadlines for public water systems from 2029 to 2031. The agency also intends to rescind and reconsider regulations for other PFAS compounds.