Search Results for keywords:"regulatory flexibility"

The Department of Commerce has issued a final rule to remove its regulations on guidance document procedures. This action follows a 2021 Executive Order by President Biden that revoked several previous Executive Orders on Federal regulation. After reviewing the policies, the Department determined that the existing rule unnecessarily limited its ability to effectively issue guidance and decided to rescind it. The final rule becomes effective on December 18, 2024, and it does not require public comment or additional analysis under the Regulatory Flexibility Act.

The U.S. Nuclear Regulatory Commission (NRC) granted an exemption to the Tennessee Valley Authority (TVA) on December 10, 2024, allowing them to conduct excavation support activities at the Clinch River Nuclear Site before receiving a construction permit. This exemption enables TVA to install support structures essential for safety during excavation but does not imply that a construction permit will be automatically approved afterward. The decision is based on ensuring no undue risk to public health and safety while considering defense and security measures. TVA claims that proceeding with these activities now will save time and costs and supports its commitment to early preparation for an eventual nuclear facility.

The Federal Communications Commission (FCC) is seeking public comments on a proposal to reduce the paperwork burden required by the Paperwork Reduction Act of 1995 and the Small Business Paperwork Relief Act of 2002. This proposal focuses on simplifying the process for digital FM radio stations to report changes and requests regarding their operations, such as using different power levels on their digital sidebands, through an updated form 2100, Schedule 335-FM. The updated rules also encourage digital FM stations to operate with greater flexibility by allowing them to notify the FCC instead of applying annually for experimental authorization, which reduces regulatory barriers and encourages more stations to adopt these digital broadcasting methods. The FCC aims to alleviate the information collection burden, especially for small businesses with fewer than 25 employees.

The Commodity Futures Trading Commission (CFTC) has adopted a final rule that establishes two exemptions from the requirement to execute certain swaps on regulated trading platforms. Swaps that qualify for clearing exemptions under existing regulations can now also be exempt from this execution requirement. Additionally, swaps made between eligible affiliate counterparties can be exempted from being executed on these platforms, even if these swaps are cleared. This rule aims to reduce unnecessary costs and enhance flexibility for specific types of swap transactions.

The Office of the Comptroller of the Currency (OCC) is proposing a new rule that would allow exemptions from certain requirements tied to Suspicious Activity Reports (SARs), which banks and savings associations must file. This rule aims to give national banks and federal savings associations some flexibility if they come up with new, more efficient ways to comply with anti-money laundering laws, while still being reviewed for safety and soundness. The proposal includes guidelines on how banks can apply for these exemptions and factors that will be considered in granting them, like consistency with the Bank Secrecy Act and any supervisory concerns. The OCC is inviting public comments on this proposed rule until February 22, 2021.

The Department of Labor has repealed a rule from August 2020 that aligned with an Executive Order by former President Trump requiring specific procedures for issuing guidance documents. This decision follows a new Executive Order issued by President Biden on January 20, 2021, which revoked the previous order, highlighting the need for regulatory flexibility to address national challenges like COVID-19 and climate change. The Department determined the existing rule limited its ability to quickly provide necessary public guidance and thus decided to remove it, effective immediately.

The U.S. Department of Energy (DOE) has issued a final rule establishing new procedures for the issuance of guidance documents to ensure compliance with Executive Order 13891. This rule requires that DOE guidance documents clearly state they are non-binding and do not impose any legal obligations; they serve merely to clarify existing laws. Additionally, the DOE has set up a process allowing the public to petition for the modification or withdrawal of these documents. The rule aims to enhance transparency and allow for public feedback on significant guidance documents through a dedicated online portal.