Search Results for keywords:"compliance costs"

The FAA has issued a new rule replacing previous airworthiness directives for ATR72 airplanes. This rule mandates incorporating updated airworthiness limitations to prevent fatigue cracking that could compromise the airplane's structure. The updated limitations are based on European Union Aviation Safety Agency guidelines and apply to certain ATR72 models, excluding those with certificates issued after December 12, 2019. The new requirements must be implemented by March 31, 2021, with specified compliance details and options for alternative approaches.

The Federal Trade Commission (FTC) has introduced a final rule called the Rule on Unfair or Deceptive Fees. This rule aims to prevent businesses from misleading consumers about the prices of live-event tickets and short-term lodging. It requires businesses to clearly disclose the total price that includes all mandatory fees, to avoid bait-and-switch tactics that hide the real cost. The rule also prohibits businesses from lying about the nature, purpose, amount, or refundability of these fees, ensuring that consumers have a true understanding of the cost before making a purchase.

The Securities and Exchange Commission (SEC) is seeking public comments on the extension of an information collection under Regulation S-ID, which aims to safeguard investors against identity theft risks. This regulation mandates SEC-regulated financial institutions and creditors to create programs to detect and address "red flags" of identity theft and communicate with cardholders about address changes. Annually, these entities must assess their accounts and report to their boards, incurring additional costs and time. Comments on this proposal are open until May 27, 2025.

The Securities and Exchange Commission (SEC) is asking for comments on some rules regarding crowdfunding. These rules, under Regulation Crowdfunding, detail what intermediaries must do when helping startups or small businesses raise money online. They include requirements about registration, dealing with investors, and keeping track of funds. The SEC wants feedback on whether these rules are helpful, the estimated costs, and how they can be improved, with all comments needed by May 27, 2025.

The Federal Aviation Administration (FAA) has issued a new airworthiness directive (AD) for various models of Airbus Helicopters due to concerns about engine compartment fires linked to aluminum firewall stiffeners. This rule requires replacing the aluminum stiffeners with titanium ones, as they are better at handling high temperatures. The directive, effective April 11, 2025, aims to prevent engine fires from spreading and potentially causing a loss of control of the helicopter. The rule assumes a cost for compliance, including labor and parts, and affects 35 helicopters registered in the U.S.

The Financial Crimes Enforcement Network (FinCEN), part of the U.S. Treasury Department, is seeking comments on renewing a rule about recordkeeping for certain financial transactions. The rule mandates financial institutions to keep records of purchases of items like bank checks and money orders when bought with cash amounts ranging from $3,000 to $10,000. FinCEN is not proposing any changes to the rule itself but wants feedback on improving the process to estimate time and costs for financial institutions to comply with these requirements. Public comments are invited by March 22, 2021, and will help FinCEN refine their data collection and reduce paperwork burdens.

The Consumer Product Safety Commission (CPSC) is seeking to renew its approval for collecting information from manufacturers and importers of carpets and rugs. These standards, issued under the Flammable Fabrics Act, aim to ensure that carpets and rugs meet safety requirements for surface flammability. Companies must perform tests and maintain records to certify that their products comply with these flammability standards. The CPSC estimates that manufacturers and importers must collectively perform about 25,000 tests annually, with the associated costs potentially reaching over $1.8 million. Public comments on this information collection request are due by April 4, 2025.

The Federal Aviation Administration (FAA) is proposing a new airworthiness directive (AD) for all Airbus Helicopters Model AS332C, following updated safety limitations identified by the European Union Aviation Safety Agency (EASA). This proposed rule would require revisions to airworthiness limitations in the helicopters' maintenance manuals to prevent failure of critical parts, which could lead to loss of helicopter control. The FAA invites the public to comment on this proposal by May 5, 2025, and provides details on how to submit feedback. The proposed AD is part of ongoing efforts to enhance aviation safety by ensuring compliance with updated international safety standards.

The Securities and Exchange Commission (SEC) has submitted a request to the Office of Management and Budget (OMB) for approval to extend a rule under the Paperwork Reduction Act. This rule, referred to as Rule 15a-6, allows foreign broker-dealers to perform certain activities with U.S. institutional investors without registering as broker-dealers, provided they meet specific requirements. The SEC estimates that complying with this rule will take U.S. broker-dealers about 6,000 hours annually and cost around $1,000,000 per year. The public can review and comment on this information collection request until March 31, 2025.

The Securities and Exchange Commission (SEC) has announced a list of rules they plan to review as part of the Regulatory Flexibility Act. The aim of this review is to determine if these rules should stay the same, be changed, or removed to lessen their economic impact on small businesses. The public is encouraged to provide feedback on these rules by January 9, 2025, to help the SEC make informed decisions. This includes important rulings such as those related to crowdfunding and small business exemptions under securities law.