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Florida Renews Emergency Declaration for Hurricane Helene

Florida Governor Ron DeSantis has renewed the state of emergency declaration for Hurricane Helene for an additional 60 days. This renewal extends Executive Order 24-208, which was initially issued in September 2024 and has been previously extended. The order aims to support ongoing recovery efforts in affected areas.

EU Proposes Industrial Accelerator Act for Public Procurement and Funding

The European Commission has proposed the Industrial Accelerator Act (IAA), which would introduce EU origin and low-carbon content requirements for public procurement and public funding. The proposal aims to boost the EU's manufacturing share and includes conditions for foreign direct investments in key sectors.

US Directs Dismantling of Criminal Cartels in Western Hemisphere

The US government has issued an executive order directing federal agencies to dismantle criminal cartels and transnational gangs operating in the Western Hemisphere. The order mandates coordination with allied governments, military training for partner nations, and the use of all legal authorities to counter cartel-driven violence and corruption.

SEC Exempts FPI Directors and Officers from Section 16 Reporting

The SEC has issued an order exempting directors and officers of certain foreign private issuers (FPIs) from Section 16(a) reporting requirements. This exemption is effective immediately and applies to FPIs incorporated in qualifying jurisdictions with qualifying regulations, ahead of the March 18, 2026 compliance deadline.

SEC Exempts FPI Directors/Officers from Section 16 Reporting

The SEC issued an order exempting directors and officers of certain foreign private issuers (FPIs) from Section 16 reporting obligations. This exemption applies to FPIs from qualifying jurisdictions with substantially similar regulations and provides relief ahead of the March 18, 2026, reporting deadline.

Omnibus I Directive Amends EU Sustainability Reporting and Due Diligence

The EU's Omnibus I Directive, amending the Corporate Sustainability Reporting Directive (CSRD) and Corporate Sustainability Due Diligence Directive (CSDDD), has been published in the Official Journal. This directive aims to streamline sustainability reporting and due diligence obligations for businesses operating within the EU.

SEC Adopts Section 16 Reporting Rules for Foreign Private Issuers

The SEC adopted final amendments requiring directors, officers, and 10% owners of foreign private issuers (FPIs) to file beneficial ownership reports on Forms 3, 4, and 5, effective March 18, 2026. The SEC also issued an order granting conditional exemptive relief for certain FPIs subject to substantially similar local reporting rules.

EU Commission Proposes Industrial Accelerator Act

The European Commission has proposed the Industrial Accelerator Act (IAA) to bolster the EU's industrial base, aiming to increase manufacturing's GDP share to 20% by 2035. The act targets challenges like high energy costs and regulatory hurdles, seeking to enhance resilience and strategic autonomy.

Tax Note: Power to Permit Regulations for 2024-2025 Tax Year

HM Revenue & Customs has updated the power to permit regulations for the 2024-2025 tax year. This measure allows new regulations made under the Finance Act 2024 to take effect retroactively and extends the expiration of the power to June 30, 2026. Regulations made will be subject to affirmative parliamentary procedure.

Child Trust Funds: cETNs Banned from April 2026

HM Revenue & Customs has issued the Child Trust Funds (Amendment) Regulations 2026, which will ban cryptoasset exchange traded notes (cETNs) from being held in Child Trust Funds effective April 6, 2026. Existing holdings can remain in the account.