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D.C. Insider April 2026: Policy Shifts Reshaping Markets

By Michael W. Robinson
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Washington is moving on multiple fronts that could reshape the operating environment for companies—from evolving tariff enforcement and SEC reporting reforms to new FTC scrutiny and coordinated oversight of digital assets. This month’s D.C. Insider highlights key regulatory shifts and policy signals that may influence capital allocation, compliance priorities and cross-border strategy in the months ahead.

Tariffs

  • Refund Status Updates, Ongoing Levies & New Investigations

    • The U.S. Court of International Trade (the court tasked with overseeing tariff refunds following the Supreme Court’s recent decision) continues to keep a stay in place on the refunds order to give Customs and Border Protection (CBP) more time to develop a system to process the International Emergency Economic Powers Act (IEEPA) tariff refunds. At the same time, importers who paid invalidated Trump Administration tariffs will be eligible to receive refunds on a greater range of entries.

    • Currently, a 10% across-the-board tariff under Section 122 which is set to end at 12:01 a.m. EDT on July 24, 2026.

    • The Trump Administration initiated a series of Section 301 (allows the president to levy tariffs against nations that discriminate against U.S. companies or commerce) trade investigations of a wide breadth of nations. These new investigations targeting excess industrial capacity and forced-labor regulations. The U.S. Trade Representative’s (USTR) is driving this effort.

      • The industrial overcapacity from export-reliant nations, which U.S. officials have said undermine U.S. producers by using subsidies to flood global markets with underpriced goods. The probe is likely to lead to higher tariffs on dozens of nations, including many of the U.S.’s largest trading partners, such as China, Tawain, India, Mexico, Japan, South Korea, Vietnam, and the 27-nation European Union bloc.

      • The forced labor investigation targets 60 economies to determine if they have failed to curb the imports of such goods.

SEC

  • Proposal to Eliminate Quarterly Financial Reporting Moves Ahead – The Securities and Exchange Commission (SEC) is preparing a proposal to eliminate the requirement for public companies to report earnings quarterly and instead give them the option to share results twice a year. In preparation for the proposal, regulators have been talking to officials at the major exchanges to discuss how they may need to adjust their rules. 

  • E-Delivery Rule Coming Soon – Securities and Exchange Commission (SEC) Chairman Paul Atkins said the agency expects to advance a long-anticipated rule to modernize electronic delivery of investor disclosures. Chairman Atkins indicated updated rules on e-delivery and communications are a priority as the SEC works to align its framework with current market practices. Industry participants have said modernizing e-delivery could enhance access, efficiency and security, noting that most investors now communicate with their financial professionals electronically.

  • SEC & CFTC to Collaborate on Digital Asset Markets – The SEC and the Commodity Futures Trading Commission (CFTC) signed a memorandum of understanding launching a Joint Harmonization Initiative to coordinate oversight of digital asset markets. The MOU covers product definitions, clearing, and margin frameworks, streamlined reporting, and what both agencies called a “fit-for-purpose regulatory framework” for crypto assets.

  • Bi-Partisan Group of Senators Urge Restrictions for Chinese Companies – Senate Banking Committee Chairman Tim Scott (R-S.C.) and Ranking Member Elizabeth Warren (D-Mass.) led a group of 18 Senators in writing to Chairman Atkins about the risk to national security, market integrity, and investor protection posed by SEC-registered entities with ties to China. The letter raises concerns about risks posed by opaque corporate structures, including variable interest entities (VIEs), as well as Chinese legal and data-sharing requirements that may limit regulatory oversight and expose sensitive information of U.S. investors. The led a group of regulators face in obtaining critical information due to Chinese restrictions and underscore the importance of continued vigilance against fraud, manipulation, and misleading disclosures tied to foreign issuers.

  • Enforcement Matters

FTC

  • FTC Puts Brands on Notice – The Trump Administration put advertisers and e-commerce platforms on notice about dubious “Made in America” claims with an Executive Order. The order instructs the Federal Trade Commission (FTC) to prioritize actions against companies that make false made-in-the-USA statements and to consider requiring e-commerce platforms to verify all third-party sellers’ descriptions of their products’ origins. While it doesn’t give the Federal Trade Commission new authority, but it does signal a growing focus on enforcement.

  • New Rules on Subscription Services Evaluated – The FTC is proceeding with the rulemaking process as it seeks to create new regulations governing “negative option” plans – subscription services and recurring memberships that require customers to affirmatively decline a product or service to avoid being charged. This is the FTC’s second attempt to impose stricter rules in this area, after a federal court shut down its first attempt in 2025 due to the agency’s failure to comply with procedural requirements.

  • Healthcare Task Force Launched – FTC Chairman Andrew N. Ferguson announced the launch of the FTC’s Healthcare Task Force that will engage in a coordinated, integrated approach to healthcare enforcement and advocacy to protect American patients, healthcare workers, and taxpayers. The Task Force will:

    • Lead targeted enforcement and advocacy initiatives focused on key priorities.

    • Devise coordinated agencywide strategies on investigations.

    • Take a proactive and strategic approach to identifying amicus and statement of interest opportunities.

    • Identify emerging issues and new priority areas for enforcement and advocacy.

    • Seek to expand its membership to include including the Department of Health and Human Services (HHS) and the Department of Justice (DOJ).

DOJ

DOL

  • Alternative Assets in 401(k) Rule Issued – The Department of Labor (DOL) proposed a rule that would allow 401(k) plans to more easily include alternative assets such as cryptocurrency, real estate, private equity, and private market assets. Although 401(k) plans already can include including alternatives, fears of lawsuits challenging their investment decisions have kept most plan sponsors on the sidelines. The proposed rule creates a safe harbor that can help shield plan sponsors from litigation. It identifies six factors for a plan fiduciary to “objectively, thoroughly, and analytically consider” when selecting alternative investments. The six factors are performance, fees, liquidity, valuation, performance benchmarks, and complexity.

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