Search Results for keywords:"Regulatory Compliance"

The Department of Defense (DoD) is proposing updates to the rules governing operational contract support (OCS) outside the United States. These changes aim to broaden the scenarios where contracted support can be used, improve accountability and reporting of contractor personnel, and clarify the responsibilities of those involved. The updated rule seeks to enhance integration and oversight of contracted support as a vital defense capability, addressing areas identified as high-risk by the Government Accountability Office. Overall, these efforts intend to minimize wastage and improve the effectiveness of military operations supported by contractors.

The Environmental Protection Agency (EPA) has submitted a request for an extension of information collection requirements related to the New Source Performance Standards (NSPS) for Asphalt Processing and Roofing Manufacture. This request, which is under review by the Office of Management and Budget, seeks to renew the existing approval set to expire on February 28, 2021. Public comments are being requested for an additional 30 days. The EPA explains that there have been no changes in the regulatory requirements or industry growth, hence no changes in the burden or costs for compliance.

The National Securities Clearing Corporation (NSCC) proposed a rule change to modify its fee structure, specifically the Clearing Fund Maintenance Fee. The change aims to exclude cash deposits from Securities Financing Transaction (SFT) accounts from this fee, to encourage broader participation in the SFT clearing service by reducing economic burdens. This proposal is expected to have minimal financial impact on Members while fostering greater access to NSCC's services. The amendment is planned to take effect on January 1, 2025, pending further comments and approval.

The Department of Justice has proposed a Consent Decree with PennEnergy Resources, LLC, related to a lawsuit over Clean Air Act violations at its facilities in Pennsylvania. The alleged violations involve improper design and maintenance of vapor control systems, leading to air pollution. Under the decree, PennEnergy must enhance its facilities' systems, undertake an environmental project, and pay a $2 million penalty. The public can comment on this decree within 30 days, and the details are available on the Justice Department's website.

The Environmental Protection Agency (EPA) is seeking public comments on a proposal to extend the Information Collection Request (ICR) for Hydrochloric Acid Production under the National Emission Standards for Hazardous Air Pollutants (NESHAP). This extension, involving facilities that produce significant emissions, aims to ensure compliance with established pollution control standards. Comments can be submitted until March 31, 2025, and the EPA estimates the total yearly burden to be 21,900 hours, costing about $2,980,000. This proposal does not anticipate significant changes in industry growth or costs.

The Federal Aviation Administration (FAA) has issued a rule that requires repair stations outside the United States, which maintain certain U.S. commercial aircraft, to conduct drug and alcohol testing for their employees who perform safety-sensitive tasks. This rule aims to align with local laws where these stations operate and provides several pathways for compliance, such as seeking waivers if local laws conflict with FAA regulations. The rule will take effect in January 2025, with full compliance required by December 2027. This regulation is part of an ongoing effort to ensure aviation safety by ensuring that repair station employees meet similar standards to those in the United States.

The Securities and Exchange Commission has published a notice regarding a proposed rule change by The Depository Trust Company (DTC) related to money market instruments. DTC aims to streamline the securities eligibility process by moving the processing of money market instruments to a more modern system, updating rules, consolidating provisions, and reducing paperwork requirements. The proposed changes are meant to make the process more efficient, simplifying the requirements for participants and issuers. This proposal is designed to enhance the overall processing and settlement of securities transactions.

The Environmental Protection Agency (EPA) has asked for approval to extend an information collection request for the National Emission Standards for Hazardous Air Pollutants (NESHAP) for Secondary Lead Smelter Industry. This extension is needed to ensure compliance with regulations that affect entities recovering lead from materials like used car batteries. Public comments about this proposal can be sent until March 31, 2025. The estimated cost of these activities is $2,750,000 per year, involving around 19,900 hours of work from 11 facilities.

The United States Department of Justice filed a complaint against XCL Resources Holdings, Verdun Oil Company II, and EP Energy, alleging that they violated the Hart-Scott-Rodino Act by assuming control over EP Energy before completing the required regulatory waiting period. They were accused of illegal coordination, including halting drilling activities and sharing sensitive information, which caused supply shortages and market disruptions. To resolve these allegations, the companies agreed to pay a civil penalty totaling over $5.6 million and implement compliance measures to prevent future violations. The court will oversee the agreement to ensure it aligns with public interest standards.

The Farm Credit Administration has introduced a final rule adjusting civil money penalties (CMPs) for inflation, in line with the Federal Civil Penalties Inflation Adjustment Act of 1990, as updated. This adjustment ensures that penalties retain their deterrent effect and compliance is maintained with the Farm Credit Act and Flood Disaster Protection Act. The new maximum daily penalties for specific violations have been increased, such as $2,904 for violating a final order and $1,313 for breaching the Farm Credit Act, effective January 15, 2025. These changes, driven by mandatory annual updates, aim to keep CMPs in line with inflation without needing a public comment process.