Search Results for keywords:"CNMI Economic Vitality

The Coast Guard has established a new anchorage ground near Rice Island on the Lower Columbia River to enhance navigation safety by creating more space for commercial vessels to anchor. This rule, set to be effective from January 15, 2025, comes in response to increased commercial traffic in the area. During the review process, 42 comments were received, addressing concerns like the depth of the anchorage ground and potential environmental impacts on species such as the Green Sturgeon. The Coast Guard assessed regulatory requirements and determined that this new anchorage ground would not have significant economic or environmental impacts.

The Board of Governors of the Federal Reserve System has proposed a rule to change how Suspicious Activity Reports (SARs) are filed by certain financial institutions, like state member banks and bank holding companies. The rule aims to allow for exemptions from these requirements to help banks more effectively meet Bank Secrecy Act requirements, potentially leading to innovative ways to tackle financial crime. The Board will coordinate with FinCEN on exemption requests and is seeking public comments on the proposal until February 22, 2021. The proposal emphasizes that these exemptions won't relieve institutions from complying with FinCEN’s SAR regulations.

The Department of Housing and Urban Development (HUD) has issued a final rule that permits mortgage companies to disburse up to 1% of a mortgage amount before using all of the funds provided by the borrower. This rule is meant to simplify the process of combining mortgages into mortgage-backed securities and help ensure interest rates for FHA-insured mortgages remain competitive. Public comments suggested more flexibility in disbursement limits, but HUD maintained the 1% limit to manage risks effectively. This final rule also makes minor organizational changes to existing regulations.

The Securities and Exchange Commission is considering a proposed rule change submitted by the Financial Industry Regulatory Authority, Inc. (FINRA). This change aims to exempt certain business development companies (BDCs) from existing restrictions on buying and selling initial public offerings (IPOs). Specifically, non-traded BDCs will be allowed to purchase new IPOs more easily, just like publicly traded BDCs and other investment companies. This move is designed to give these non-traded BDCs and their investors better access to diverse investment opportunities, potentially improving their portfolio balance and investments in new stock issues.

The Department of Homeland Security (DHS) has finalized a rule that changes how it selects H-1B visa petitions submitted by employers. This new rule prioritizes selecting petitions based on the highest wage level offered for the job, rather than through a random lottery system. By ranking potential H-1B workers based on their salary offers, DHS aims to ensure that visas are more likely to go to highly skilled workers filling important roles, thus supporting economic recovery and protecting U.S. workers' wages. This rule is set to take effect on March 9, 2021, and aims to better align the H-1B program with the intention of hiring more qualified and valued international employees.

The U.S. Department of Commerce issued an order denying Siddharth Bhatt's export privileges for ten years because he was convicted of illegally trying to export a thermal imaging camera to the UAE without the necessary license. Bhatt, who has addresses in Chicago and Mumbai, was sentenced to probation and fined. The order prohibits him and others acting on his behalf from participating in any transactions involving items subject to export regulations from the U.S. Bhatt can appeal this order within 45 days, but this denial takes immediate effect.

The U.S. Census Bureau, under the Department of Commerce, is seeking public comments on revisions to the State and Local Government Finance Collections and Public Employment and Payroll Collections. This request is part of the Paperwork Reduction Act (PRA) to evaluate and minimize the public's reporting burden while ensuring the data collected is useful and accurate. The proposed changes include adding cannabis sales and sports betting taxes to their annual surveys. Comments are invited until March 29, 2021, to help improve the collection process and data quality.

The memorandum outlines the U.S. government's policy to protect American companies from unfair foreign practices, especially in the tech industry. It states that the U.S. will impose tariffs and take other actions against countries that apply discriminatory taxes and regulations that hurt U.S. businesses. The document instructs various U.S. officials, including the Secretary of the Treasury and the Trade Representative, to identify these foreign practices, consider responding to them, and develop strategies to mitigate their impact on American companies. The goal is to enhance the competitiveness of U.S. businesses and prevent foreign countries from exploiting them financially.

The United States Patent and Trademark Office (USPTO) is asking for public comments on renewing and revising existing rules for tracking and managing how lawyers and agents behave while representing clients. This involves keeping accurate records about client properties and reporting any misconduct. These rules help maintain the integrity of professional conduct in the USPTO and can lead to suspensions or other penalties if violated. Public comments are invited to evaluate the necessity and efficiency of these rules, with a deadline for submissions set for May 12, 2025.

The Department of Housing and Urban Development (HUD) issued a notice about the Universal Notice, which details rules for managing disaster recovery funds through the Community Development Block Grant Disaster Recovery (CDBG-DR) program. This notice explains how these funds will be allocated, including any waivers or alternatives to standard requirements, to ensure quicker and more consistent disaster recovery efforts after presidentially declared disasters. The notice sets procedures for the execution of grant awards, outlines measures to streamline recovery processes, and ensures that fair housing and civil rights are respected during implementation. HUD aims to offer better transparency and access to recovery funds to help communities recover effectively and equitably.