Search Results for keywords:"legal compliance"

The Securities and Exchange Commission (SEC) is seeking public comments on extending a rule that allows investment funds to invest in certain securities-related businesses, even though there's a general prohibition against it. This rule is important because it helps funds make investments without giving too much power to certain advisers. The SEC estimates that 49 funds will need to update their contracts each year to comply with this rule, and it will take about 3 hours for legal work, shared among similar rules. Public comments on this matter can be sent by June 17, 2025.

The President of the United States issued an order to block the acquisition of United States Steel Corporation by Nippon Steel Corporation due to concerns about national security. The order states that the companies involved must fully abandon this acquisition within 30 days unless an extension is granted by the Committee on Foreign Investment in the United States (CFIUS). The companies must regularly report their compliance and efforts to abandon the merger to CFIUS. The President reserved the authority to issue further orders if necessary to protect national security.

The Federal Trade Commission (FTC) has reached a proposed consent agreement with Tapjoy, Inc. to resolve allegations of deceitful practices in its mobile gaming advertising platform. The FTC claims Tapjoy misled consumers by promoting false offers of in-app rewards that were often not delivered, causing harm to both gamers and game developers. The proposed order requires Tapjoy to prevent such deceptive practices by ensuring accurate reward representations and providing a clear method for consumers to report issues. The Commission has invited public comments on this proposal until February 12, 2021.

The President issued a memorandum to various government officials focusing on preventing illegal immigrants from receiving Social Security benefits. Section 1 of the memorandum calls for strict measures to ensure ineligible individuals do not receive these benefits, including expanding a fraud prosecutor program and addressing issues noted in a 2023 audit. The audit highlighted missing records of deceased individuals and potential identity theft. Section 2 states that the memorandum should not interfere with existing laws or create any new legal rights.

The Securities and Exchange Commission (SEC) has issued a final rule to make technical corrections to prior amendments about auditor independence requirements. These amendments, originally adopted in October 2020, had certain errors that are being fixed. Specifically, the SEC is correcting a citation in their instructions regarding a section of the auditor independence requirements. These changes are set to become effective on June 9, 2021.

The Drug Enforcement Administration (DEA) is notifying the public of an application from JW Colorado, LLC, to be registered as a bulk manufacturer of marihuana, a controlled substance listed under schedule I. The DEA will evaluate the application along with others under regulations meant to ensure that the growth of marihuana is for legitimate scientific and medical research purposes. Written comments or objections to this proposed registration must be submitted by April 19, 2021, and the evaluation will ensure compliance with all relevant laws and safeguards against misuse.

The Department of Labor is proposing changes to rules regarding filing and service in proceedings involving the Administrative Review Board. The new rules aim to make electronic filing (e-filing) and electronic service (e-service) mandatory for attorneys and representatives, while self-represented individuals will have the choice of using electronic or traditional methods. The proposed changes include updates to existing regulations, aiming for improved efficiency and reduced processing time by transitioning to electronic case files. Public comments on the proposed rulemaking are being solicited until February 10, 2021.

The United States Postal Service is updating the Bylaws of its Board of Governors to address several issues, aiming to clarify current rules and ensure they align with modern practices and legal requirements. These changes include adjustments for rate-setting responsibilities, expanded access to certain information for the Governors, and procedures for situations when there aren't enough Governors present for a quorum. The amendments also cover compensation rules, meeting protocols, and updates to roles like the Secretary of the Board, ensuring smooth operation and compliance with laws.

The Social Security Administration (SSA) is inviting comments on certain information collection activities that require approval from the Office of Management and Budget (OMB). The agency provides details about these activities, including the need for them, their practical applications, and ways to improve their quality and reduce the burden on those who need to provide information. The document outlines specific types of information collections pending clearance, such as verifying religious group exemptions from taxes, claims under the Federal Tort Claims Act, and applications for Medicare subsidies. The SSA emphasizes the importance of feedback and sets deadlines for public comments.

The Federal Reserve Board is updating its rules to adjust the fines known as civil money penalties for inflation, as required by the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015. This adjustment ensures that penalties retain their deterrent effect by accounting for changes in the economy. The new penalty amounts will apply starting January 13, 2025, for violations occurring after November 2, 2015. The rule is implemented without the usual notice and comment process because of specific provisions in the law.