Search Results for keywords:"compliance costs"

The Securities and Exchange Commission (SEC) has announced a list of rules they plan to review as part of the Regulatory Flexibility Act. The aim of this review is to determine if these rules should stay the same, be changed, or removed to lessen their economic impact on small businesses. The public is encouraged to provide feedback on these rules by January 9, 2025, to help the SEC make informed decisions. This includes important rulings such as those related to crowdfunding and small business exemptions under securities law.

The Federal Aviation Administration (FAA) has issued a new airworthiness directive (AD) for certain aircraft models from Piper and related corporations. This directive was prompted by reports of rudders breaking due to fatigue and corrosion, which could lead to reduced control during flight. The rule requires replacing rudders made with 1025 carbon steel posts with those made from a more durable 4130N low-alloy steel to ensure the safety of these planes. The directive also has an allowance for alternative methods of compliance (AMOCs) if approved by the FAA, giving some flexibility to aircraft operators.

The Securities and Exchange Commission (SEC) has submitted a request to the Office of Management and Budget (OMB) for approval to extend a rule under the Paperwork Reduction Act. This rule, referred to as Rule 15a-6, allows foreign broker-dealers to perform certain activities with U.S. institutional investors without registering as broker-dealers, provided they meet specific requirements. The SEC estimates that complying with this rule will take U.S. broker-dealers about 6,000 hours annually and cost around $1,000,000 per year. The public can review and comment on this information collection request until March 31, 2025.

The Federal Aviation Administration (FAA) has issued a new final rule that updates and replaces an earlier airworthiness directive from 2017 concerning certain Saab AB Model 340A and 340B airplanes. This new directive introduces more stringent safety requirements following recommendations from the European Union Aviation Safety Agency (EASA). It mandates revising the planes' maintenance or inspection programs to include new airworthiness limitations, especially involving the main landing gear. These updates aim to maintain the structural integrity of the aircraft and ensure ongoing aviation safety.

The Securities and Exchange Commission (SEC) is seeking approval from the Office of Management and Budget to extend an existing collection of information under Rule 15c2-12, which involves municipal securities disclosure. This rule requires certain actions from underwriters, like obtaining important financial statements from municipal securities issuers before making transactions, and ensuring that issuers provide ongoing financial information to the Municipal Securities Rulemaking Board. The SEC estimates that it will take hundreds of thousands of hours per year for issuers, broker-dealers, and the MSRB to comply with the rule and that compliance will cost millions of dollars over the next three years. The public can view and comment on this request by early March 2025.

The Federal Aviation Administration (FAA) has issued a new rule that replaces previous directives for certain Airbus SAS airplane models, including the A318, A319, A320, and A321 series. This rule requires operators to update their maintenance or inspection programs to include stricter airworthiness limitations, in order to prevent potential fuel tank explosions. The regulation takes effect on March 21, 2025, and is based on guidelines from the European Union Aviation Safety Agency (EASA). The FAA estimates compliance involves about 90 work-hours per operator.

The Environmental Protection Agency (EPA) is seeking approval from the Office of Management and Budget (OMB) to extend the information collection request related to the National Emission Standards for Hazardous Air Pollutants (NESHAP) for inorganic arsenic emissions from glass manufacturing plants. This extension, already approved until February 2025, allows for additional public comments until March 31, 2025. The EPA will continue collecting information to ensure these plants comply with environmental regulations, impacting around 16 glass manufacturing facilities. The estimated annual cost for compliance is $470,000, including maintenance expenses updated for inflation.

The Occupational Safety and Health Administration (OSHA) is seeking public comments on its proposal to extend approval of information collection requirements under the 4, 4'-Methylenedianiline (MDA) in Construction Standard. This rule is vital to ensuring worker safety by protecting them from the harmful effects of MDA, a chemical that can cause cancer and liver and skin diseases. OSHA aims to reduce the burden on employers by minimizing paperwork while maintaining employee safety through exposure monitoring and medical surveillance. Comments are invited until April 21, 2025, and can be submitted electronically or by mail.

The Federal Aviation Administration (FAA) has proposed a new rule related to specific Boeing Model 737 airplanes. They aim to replace a previous directive due to the risk of escape slides unintentionally deploying, which could hurt passengers or hinder emergency evacuations. The new proposal would extend inspection and replacement requirements to additional airplane models. The FAA invites public comments on this proposal until May 27, 2025.

The proposed rule requires banking organizations to notify their primary federal regulator within 36 hours of determining in good faith that a "computer-security incident" has occurred that could cause significant disruptions to operations. A "notification incident" is an incident deemed serious enough to impact banking services or financial stability. Additionally, bank service providers must alert at least two individuals at affected banking organization customers immediately upon experiencing a significant disruption lasting four or more hours. This rule aims to ensure timely and effective responses to potential cybersecurity threats impacting the banking sector.