Search Results for keywords:"Regulatory compliance"

The Federal Aviation Administration (FAA) has issued a new airworthiness directive (AD) for certain models of General Electric (GE) engines. This directive was prompted by a manufacturer evaluation suggesting that a lower life limit may be needed for specific compressor rotor spools, stages 6-10, to ensure safety. The AD mandates a one-time inspection of these spools to check for compliance with updated repair limits and requires their replacement if they do not meet the necessary standards. The rule is intended to prevent potential engine failures and ensure flight safety.

The Financial Crimes Enforcement Network (FinCEN) is working to renew a rule that lets banks designate certain customers as "exempt persons" so they don’t have to report large cash transactions over $10,000 with them. The rule aims to help banks reduce paperwork and make it easier to manage these accounts. FinCEN is asking for public comments on the process and its impact on banks' workload to ensure it is effective and not unnecessarily burdensome. This is part of a broader effort to comply with the Paperwork Reduction Act of 1995, which seeks to minimize paperwork burdens on the public.

The Federal Aviation Administration (FAA) has issued a new rule requiring the replacement of certain chemical oxygen generators on a variety of Airbus planes, due to failures they experienced in service and maintenance. This rule follows a similar directive by the European Union Aviation Safety Agency (EASA) and aims to address potential safety risks from these malfunctions. Under the directive, affected parts need to be replaced, and while operators must report inspection results, they are not required to return the parts to the manufacturer. The directive will take effect from March 11, 2025, and affects multiple Airbus models registered in the U.S.

The Animal and Plant Health Inspection Service (APHIS) is seeking to revise and extend the approval of an information collection related to certifying laboratories that conduct aquatic animal testing for export activities. This process, while not currently regulated by APHIS, is essential for ensuring that U.S. exports meet the import health requirements of other countries. APHIS is inviting public comments on the necessity, practicality, and burden of this information collection process. The document describes the activities involved, estimates the public burden of these requirements, and outlines how often these procedures occur.

NYSE Arca, Inc. has submitted a proposed rule change to the Securities and Exchange Commission (SEC) to amend its "NYSE Arca Equities Fees and Charges" schedule. The amendment introduces a routing fee for the "Midpoint Ping" strategy, which allows market participants to route orders to other exchanges within the NYSE Group to access midpoint liquidity. The fee will be $0.0030 per share for securities priced at or above $1.00, or 0.30% of the dollar value for those priced below $1.00. The rule change is now effective, and the SEC is inviting public comments on this proposal until May 7, 2025.

The Securities and Exchange Commission (SEC) has received a proposed rule change from BOX Exchange LLC, which seeks to amend its fee schedule. Specifically, the amendment aims to increase the rebate offered to Floor Brokers for various orders on the BOX Options Market facility. The proposal was filed for immediate effectiveness and is open for public comment until March 13, 2025. Comments can be submitted via the SEC's website or by mail.

OIKO Energy Inc. has applied to the Department of Energy for permission to export electric energy from the United States to Canada. This application, submitted on October 31, 2024, is for a five-year term. OIKO, a company based in Quebec, Canada, is looking to work as a power marketer and has stated that its operations will not affect the energy supply or reliability in the U.S. The public can submit comments or objections regarding this application until January 21, 2025, and a decision will be made after assessing environmental impacts and energy supply concerns.

Blue Diamond Mining, LLC has submitted a petition to the Mine Safety and Health Administration (MSHA) seeking to modify existing safety regulations. They propose using certain powered air purifying respirators (PAPRs), which are not currently MSHA-approved, near pillar workings or longwall faces in their Bear Branch 2 mine in Kentucky. The company argues that these PAPRs offer effective and comfortable protection against coal dust and are necessary as other approved options are unavailable. They commit to training miners, maintaining safety records, and inspecting equipment to ensure safety compliance.

The Options Clearing Corporation (OCC) proposed a rule change to adjust their rules in alignment with recent updates to Part 39 of the Commodity Futures Trading Commission (CFTC) regulations. These changes include amendments to OCC Rule 602, addressing customer-level margin requirements, and OCC Rule 1103, concerning the suspension of clearing members. The revisions aim to make margin requirements commensurate with the risk of each customer account and incorporate an exception for futures commission merchants that meet certain CFTC conditions. These rules were filed with the Securities and Exchange Commission and became effective immediately to ensure compliance by the January 27, 2021 deadline.

The U.S. Nuclear Regulatory Commission (NRC) has updated its rules to adjust the maximum fines it can charge for violations. This is required by a law called the Federal Civil Penalties Inflation Adjustment Act, which makes sure penalties keep pace with inflation. Now, fines for breaking the Atomic Energy Act will increase from $303,471 to $307,058 per violation, per day. Additionally, fines related to fraudulent claims under the Program Fraud Civil Remedies Act will rise from $11,665 to $11,803 per false claim or statement.