Search Results for keywords:"regulatory change"

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Search Results: keywords:"regulatory change"

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  • 2024-27880 — Employment of Workers With Disabilities Under Section 14(c) of the Fair Labor Standards Act
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    Type:Proposed Rule
    Citation:89 FR 96466
    Reading Time:about 4 hours

    The U.S. Department of Labor is proposing to stop issuing certificates that allow employers to pay subminimum wages to workers with disabilities under the Fair Labor Standards Act (FLSA) Section 14(c). This decision is based on the conclusion that such wages are no longer necessary due to improved employment opportunities and legal protections for individuals with disabilities. If enacted, the proposal would phase out new certificates immediately and existing ones over three years, ensuring that all affected workers transition to being paid at least the regular minimum wage. The Department believes that this change reflects broader societal shifts towards equality and inclusion for workers with disabilities.

    Simple Explanation

    The U.S. Department of Labor wants to make sure that people with disabilities get paid the same minimum wage as everyone else, so they plan to stop letting some companies pay them less. This change is happening because now there are better job opportunities and protections for people with disabilities.

  • 2020-29251 — Self-Regulatory Organizations; Fixed Income Clearing Corporation; Notice of Filing and Extension of the Review Period of an Advance Notice To Modify the Calculation of the MBSD VaR Floor To Incorporate a Minimum Margin Amount
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    Type:Notice
    Citation:86 FR 584
    Reading Time:about 43 minutes

    The Securities and Exchange Commission (SEC) is reviewing a proposal by the Fixed Income Clearing Corporation (FICC) to modify the calculation of the VaR (Value at Risk) Floor for its Mortgage-Backed Securities Division. The change aims to incorporate a "Minimum Margin Amount" to better account for market volatility and ensure adequate risk management. This proposal was developed after the COVID-19 pandemic revealed that the existing calculations did not sufficiently cover risks, particularly during periods of extreme market changes, and the SEC is inviting public comments on this advance notice. The proposed enhancements are designed to limit FICC's exposure by ensuring that its systems account for recent and more volatile market conditions.

    Simple Explanation

    The grown-ups in charge of safe money systems want to change how they keep mortgage money safe, especially when things go up and down a lot, like a wild roller coaster. They're asking people what they think about this idea to make sure everyone's money stays safe and sound.

  • 2021-02665 — Modification of Registration Requirement for Petitioners Seeking To File Cap-Subject H-1B Petitions; Delay of Effective Date
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    Type:Rule
    Citation:86 FR 8543
    Reading Time:about 30 minutes

    The U.S. Department of Homeland Security (DHS) has delayed the implementation of a new rule regarding the H-1B visa selection process until December 31, 2021. This rule intended to change how H-1B visa applications are selected, focusing on using wage levels for prioritization. The delay allows U.S. Citizenship and Immigration Services (USCIS) additional time to update and test their systems and train their staff to ensure a smooth transition, avoiding confusion and operational disruptions. During this delay, H-1B registrations for the fiscal year 2022 will follow the existing random selection process.

    Simple Explanation

    The government wanted to change how they pick people for a special work-longest trip called H-1B visa by choosing those with the highest-paying jobs first. But they're waiting until the end of the year to start doing this so they can make sure everything works smoothly.

  • 2024-28931 — Modification of the Duration of Certain Permits and Letters of Confirmation Under the Marine Mammal Protection Act
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    Type:Rule
    Citation:89 FR 100393
    Reading Time:about 46 minutes

    The National Marine Fisheries Service (NMFS) has issued a final rule that modifies the duration limits on permits and Letters of Confirmation (LOCs) under the Marine Mammal Protection Act. Previously, these permits and LOCs were limited to five years, but now NMFS can issue them for longer periods if deemed appropriate. This change aims to make the permitting process more efficient and less burdensome for researchers and other permit holders. Public comments regarding the proposed change have been considered, and any new permits will continue to be subject to a public comment period before issuance.

    Simple Explanation

    The rule changes how long certain permits to study or show sea animals can last. Before, these permits could only be for 5 years, but now they can be longer if that's okay.

  • 2024-30520 — Self-Regulatory Organizations; Fixed Income Clearing Corporation; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the Clearing Fund Maintenance Fee of MBSD and GSD
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    Type:Notice
    Citation:89 FR 104595
    Reading Time:about 11 minutes

    The Fixed Income Clearing Corporation (FICC) has proposed changes to the way it calculates Maintenance Fees for its Mortgage-Backed Securities Division (MBSD) and Government Securities Division (GSD). Starting January 1, 2025, instead of charging a fee only on the cash deposit balance, FICC will calculate the fee based on the total Required Fund Deposit while lowering the fee rate from 0.25% to 0.085%. This change aims to encourage members to deposit more cash by removing disincentives, potentially enhancing FICC's liquidity. Although the change is intended to be revenue neutral for FICC, different members might see increases or decreases in their fees depending on their deposit sizes and risk profiles.

    Simple Explanation

    FICC is changing how they charge a fee for keeping track of money that people store with them. Starting in 2025, they'll look at how much total money is required to be kept safe instead of just cash, and they're making the fee smaller to maybe encourage people to keep more money there, which is supposed to be fair for everybody.

  • 2024-30680 — Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Filing of a Proposed Rule Change To Amend the Codes of Arbitration Procedure To Adopt FINRA Rules 12808 and 13808 (Accelerated Processing) To Accelerate the Processing of Arbitration Proceedings for Parties Who Qualify Based on Their Age or Health Condition
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    Type:Notice
    Citation:89 FR 105128
    Reading Time:about 61 minutes

    The Financial Industry Regulatory Authority (FINRA) has proposed a rule change aimed at accelerating arbitration proceedings for those who qualify due to age or health conditions. Under the proposal, individuals aged 70 or older or those with a serious health condition can request quicker processing of their cases to ensure they can participate meaningfully in the arbitration. FINRA aims to shorten the arbitration timeline to approximately ten months, compared to the standard process which can take much longer. The change is intended to ensure fairer outcomes for individuals who may otherwise face difficulties participating due to health or age-related issues.

    Simple Explanation

    FINRA wants to make things go faster in special money disagreements for people who are old or sick, so they don’t have to wait too long to get help. But some people worry that doing things quickly might be tricky and could cause problems for others.