DCR Transmission Bench Ruling on Discovery Motion

FERC Administrative Law Judge DeJesus issued an order confirming a bench ruling that grants in part and denies in part a motion to compel discovery filed in the DCR Transmission rate proceedings under dockets ER23-2309, ER24-1394, and EL26-34. The ruling addresses discovery disputes between parties in FERC-regulated electric transmission proceedings. DCR Transmission, L.L.C. is the subject entity whose transmission operations are under regulatory review.

Terra-Gen LLC Consent Agreement Approved

FERC issued Order No. 195 FERC 61,016 approving a stipulation and consent agreement with Terra-Gen LLC under docket IN26-2-000. The enforcement action resolves an investigation into potential violations of federal energy regulations. Terra-Gen, a geothermal and renewable energy power generation company, entered into the consent agreement with FERC's Division of Enforcement. The Commission's approval marks final resolution of the matter.

Stryve Foods Inc. - Form 12b-25 Notification of Late Filing (Form 10-K)

Stryve Foods, Inc. filed Form 12b-25 notification with the SEC indicating inability to timely file its Annual Report on Form 10-K for the fiscal year ended December 31, 2025. The company cited working capital constraints that have imposed time constraints on the compilation, dissemination, and review of required information, and that its independent registered public accounting firm has not completed audit procedures. The company committed to filing the report as soon as practical, seeking the standard 15-day extension permitted under Rule 12b-25.

UK FCA Findings From Multi-Firm Review On Operational Resilience

The UK Financial Conduct Authority (FCA) published findings from a multi-firm review of operational resilience self-assessments following the transition period ending March 31, 2025. The FCA highlights good and poor practices across six categories: important business services and impact tolerance, mapping resources, scenario testing, vulnerability management, communications plans, and governance. Firms are encouraged to use these observations to review and evolve their operational resilience approaches.

New IDX Listing Rule: Enhancing free float and governance

The Indonesia Stock Exchange (IDX) issued Decree No. Kep-00045/BEI/03-2026 on March 31, 2026, implementing revised listing rules that take immediate effect. Key changes include increasing the minimum free float threshold for continued listing from 7.5% to 15%, raising initial listing thresholds based on market capitalization to 15-25%, and adding new corporate governance requirements. The rule aims to prevent Indonesia's downgrade from emerging to frontier market status by improving transparency and market liquidity.

CFTC Enforcement Director Outlines Updated Priorities, Previews Cooperation Policy

New CFTC Division of Enforcement Director David I. Miller announced five enforcement priorities at NYU Law School on March 31, 2026: insider trading in prediction markets, market manipulation, retail fraud, spoofing and manipulation in derivatives markets, and emerging digital asset misconduct. Miller also previewed a forthcoming cooperation advisory that will provide a clear path to declinations for parties who self-report, fully cooperate, and remediate violations. The Division plans to hire additional staff to pursue these priorities.

SEC Rescinds Crypto Accounting Rule: What It Means for Money Transmitters and Digital Asset Custody

Ankura published an analysis of the SEC's rescission of Staff Accounting Bulletin No. 121 (SAB 121) and its replacement with SAB 122, which eliminated requirements that made cryptocurrency custody economically prohibitive for publicly traded banks. The article examines the regulatory shift toward a more crypto-friendly stance under the Trump administration and its implications for money transmitters and digital asset custody services.

National Association of Industrial Bankers v. Weiser - En Banc Rehearing on DIDMCA Opt-Out

The Tenth Circuit granted en banc rehearing in National Association of Industrial Bankers v. Weiser, vacating its November 2025 panel decision that had allowed Colorado to apply its Uniform Consumer Credit Code interest-rate caps to loans made by out-of-state, state-chartered banks to Colorado borrowers. The court will reconsider whether DIDMCA § 525's phrase 'loans made in such State' allows opt-out states to regulate out-of-state bank lending to their residents. Supplemental briefing has been ordered on preemption and interpretive issues.

FCA and ICO clarify vulnerability data expectations for firms

The UK Financial Conduct Authority (FCA) and Information Commissioner's Office (ICO) published a joint statement clarifying regulatory expectations for financial firms on the use and sharing of vulnerability-related customer data. The statement addresses how firms should identify vulnerable customers, design appropriate products and communications, share data across distribution chains, and monitor outcomes under consumer duty while complying with UK GDPR.

Treasury GENIUS Act Rule, CFTC Lawsuits, DOL 401(k) Alternatives, Crypto Tax Bill

Paul Hastings summarizes four major U.S. financial regulatory developments: Treasury's NPRM establishing criteria for state stablecoin regimes to qualify as substantially similar to the federal GENIUS Act framework; CFTC's lawsuits against Arizona, Connecticut, and Illinois asserting exclusive federal jurisdiction over prediction markets; DOL's proposed rule creating a fiduciary safe harbor for including alternative investments in 401(k)s; and House members releasing an updated Digital Asset PARITY Act discussion draft addressing digital asset taxation.