Search Results for keywords:"compliance"

The Coast Guard has issued a final rule to update its regulations for the National Vessel Documentation Center to better handle electronic submissions and align with reporting timelines. This rule allows vessel owners to submit documentation electronically, eliminating the need to send in original documents like the Builder's Certificate or existing Certificates of Documentation (CODs). It also extends the time for vessel owners to report changes to their COD information from 10 to 30 days. These changes simplify the filing process and reduce the need for paper submissions, making it easier and more efficient for both vessel owners and the Coast Guard.

The Federal Transit Administration (FTA) has released a final version of its updated Third-Party Contracting Guidance Circular (C 4220.1G), which replaces the old version (C 4220.1F). The update includes changes brought about by new laws and regulations and provides additional guidance for FTA's assistance programs. The FTA also addressed various public comments, making adjustments where needed, but mostly ensuring the guidelines align with existing federal standards. Most suggestions from stakeholders were acknowledged but not incorporated, as they often went beyond the scope of the federal requirements.

The Federal Communications Commission (FCC) is seeking public comments on the information collection required under the Paperwork Reduction Act of 1995. The comments should address whether this information collection is necessary, its practical utility, the accuracy of the burden estimates, ways to improve its quality and clarity, and how to reduce the burden on small businesses. The deadline for submitting comments is May 19, 2025. This effort is part of the FCC's ongoing review to minimize paperwork burdens.

The New York Stock Exchange (NYSE) has proposed a rule change to give special purpose acquisition companies (SPACs) 15 additional days after completing a business combination to fulfill a specific shareholder requirement. This change aims to address the challenge SPACs face in confirming the number of shareholders due to last-minute decisions by shareholders to sell or keep their shares. The Securities and Exchange Commission (SEC) is considering whether to approve this proposal, expressing concerns about the potential risks of allowing SPACs more time to prove compliance, which might lead to non-compliant companies remaining listed temporarily. The SEC invites public comments while evaluating the proposal's implications on market fairness and investor protection.

The Financial Crimes Enforcement Network (FinCEN), part of the U.S. Treasury Department, has issued a Geographic Targeting Order for certain money services businesses along the southwest border of the U.S. These businesses must report currency transactions of more than $200 but not more than $10,000 and verify the identity of those making these transactions. The order, effective from April 14, 2025, to September 9, 2025, covers specific areas in California and Texas and aims to combat illegal financial activities by drug cartels. Failure to comply with this order could result in civil or criminal penalties.

The Internal Revenue Service (IRS) has proposed new rules to manage an excise tax on the sale of certain designated drugs by manufacturers, producers, and importers. These regulations detail how the tax will be applied and calculated, particularly focusing on sales during specific periods defined by law. The proposed rules include definitions of terms like "manufacturer" and "sale," guidelines for identifying sales subject to the tax, and methods for calculating the tax amount. The rules aim to ensure that the tax is assessed fairly and are seeking public comments and possible requests for a hearing by March 3, 2025.

The Department of Defense (DOD), General Services Administration (GSA), and NASA have sent a request to the Office of Management and Budget (OMB) to extend an approved information collection related to certain Federal Acquisition Regulation (FAR) part 4 requirements. This involves contractors providing information such as taxpayer IDs, unique entity identifiers, and Commercial and Government Entity (CAGE) codes, which help with government data reporting and contract management. The information is used to maintain accurate records and ensure compliance with contracting laws. Public comments on this request are open until April 14, 2025.

The Consumer Financial Protection Bureau (CFPB) has issued a final rule to adjust civil penalty amounts for inflation, fulfilling the requirements under the Federal Civil Penalties Inflation Adjustment Act. These adjustments ensure that penalties continue to serve as a deterrent and encourage compliance with the law. The new penalty amounts will take effect on January 15, 2025, and apply to violations occurring after November 2, 2015. This rulemaking process does not require public notice or comment due to its technical nature and statutory obligations.

The Agricultural Marketing Service (AMS) has made a final rule that changes how butterfat testing records are handled for the Dairy Grading and Inspection Program. The rule allows plants to do butterfat tests in-house or at approved third-party labs and obligates them to keep these records available for inspection by the USDA. This change aims to streamline processes by aligning with current industry practices and providing a more accurate picture of the butter's quality over time. The rule is expected to help butter plants save between $4,560 and $31,560 annually by eliminating the need for duplicate USDA inspections.

In Executive Order 14271, the President directs U.S. government agencies to prioritize buying commercial products and services whenever possible to save taxpayer money and encourage private sector innovation. Agencies must review their current contracting processes for unnecessary custom solutions that don't offer extra value compared to commercial ones. The order also sets out specific procedures for justifying any exceptions and involves oversight from the Office of Management and Budget to ensure compliance. This approach aims to reduce waste and increase efficiency in federal spending.