Policy Updates
Immigration policy changes from the Federal Register, explained in plain language.
NYSE Arca Adds Cash Settlement Option for Customizable ETF Options Contracts
NYSE Arca has amended its rules to allow certain highly liquid ETF-based FLEX Options to be settled in cash rather than requiring physical delivery of shares. The change applies to up to 50 qualifying ETFs that meet strict liquidity thresholds. This rule took effect immediately upon filing and mirrors rules already in place at other exchanges.
NSCC Proposes Streamlined Clearing for ETFs With Options Components
The National Securities Clearing Corporation (NSCC) has proposed a rule change to simplify the creation and redemption of exchange-traded funds (ETFs) that hold options as underlying assets. Currently, these transactions require fragmented manual processes outside of traditional clearing systems. The proposal would make NSCC the central hub for these transactions, routing option-related instructions to the Options Clearing Corporation (OCC) automatically.
Cboe EDGX Exchange Proposes Retail Price Improvement Program for Stock Orders
Cboe EDGX Exchange has proposed a new Retail Price Improvement (RPI) Program that would give retail investors better prices on stock trades by at least $0.001 above the best national bid or below the best national offer. The SEC is soliciting public comments on the proposal, which also clarifies how non-displayed orders behave on the exchange. This rule change affects stock market structure and does not directly impact visa holders or immigration status.
NOAA Streamlines Deep Seabed Mining Applications with New Consolidated Process
NOAA has updated its deep seabed mining regulations to allow applicants to apply for an exploration license and commercial recovery permit simultaneously, rather than sequentially. The rule takes effect immediately as of January 21, 2026. This change reflects decades of technological advances in seafloor mapping and deep-sea mining capabilities.
FCC Rescinds E-Rate Wi-Fi Hotspot Lending Program, Blocking Off-Campus Internet Funding
The FCC has reversed its 2024 decision to allow E-Rate program funds to pay for Wi-Fi hotspots lent to students and library patrons for home use. The Commission concluded it lacked legal authority under the Communications Act to fund off-premises internet access. Pending FY 2025 funding applications for off-premises hotspot services will be denied.
USCIS Drops 1-Year Abroad Rule for R-1 Religious Workers — Effective Now
R-1 religious workers who've maxed out their 5-year stay no longer have to wait a full year abroad before returning to the US. The change is already in effect, offering immediate relief to churches, mosques, synagogues, and the workers they depend on. Here's what the new rule means and who benefits most.
MIAX Pearl Launches Market Quoting Program With Enhanced Rebates for Active Market Makers
MIAX Pearl Equities introduced a new Market Quoting Program effective January 1, 2026, offering an enhanced rebate of $0.0026 per share to equity members who quote at the national best bid or offer in at least 750 securities for at least 50% of trading time. This program is a stock exchange fee schedule change and has no direct impact on H-1B workers, F-1 students, or other visa holders.
Cboe Proposes New 'Future-Option Orders' Combining VIX Options and VX Futures
Cboe Exchange has filed a proposed rule change with the SEC to allow traders to submit combined orders that include both VIX options and VX futures in a single transaction. This is a securities market structure proposal affecting derivatives traders and has no direct impact on immigration status or visa holders. The SEC is soliciting public comments on the proposal.
R-1 Religious Workers No Longer Required to Spend 1 Year Abroad Before Returning to the US
USCIS has eliminated the rule that forced R-1 religious workers to live outside the United States for a full year after hitting their 5-year maximum stay before being allowed to return. The change took effect immediately on January 16, 2026, and aims to reduce disruptions to churches, mosques, synagogues, and other nonprofit religious organizations. Workers and their dependents can now re-enter the US in R-1 status much sooner after departing.
PHMSA Seeks Public Comment on 17 New Hazardous Materials Special Permit Applications
The Pipeline and Hazardous Materials Safety Administration (PHMSA) has published 17 new applications for special permits related to hazardous materials transportation. Applicants include major companies like SpaceX, Amazon, and Walmart, with requests covering lithium battery transport, pressure vessel testing, and compressed gas containers. Public comments are due by February 17, 2026.
PHMSA Grants 17 Hazardous Materials Special Permits, Including for Amazon and Blue Origin
The Pipeline and Hazardous Materials Safety Administration (PHMSA) has granted 17 special permits allowing companies to transport hazardous materials under conditions that differ from standard regulations. Notable approvals include permits for Amazon's electronic shipping papers, Zipline's drone deliveries, and Blue Origin's rocket launch vehicle. This notice has no direct impact on F-1 students or H-1B workers.
SEC Seeks Public Comments on Form F-1 Registration Statement Renewal
The Securities and Exchange Commission (SEC) is requesting public comments on renewing its Form F-1 registration statement, used by foreign private issuers to register securities in the US. This is a routine paperwork renewal with no changes to immigration policy or visa processes. Comments are due by March 16, 2026.