Search Results for keywords:"regulatory requirements"

The Securities and Exchange Commission (SEC) is asking for comments on the information they collect under certain crowdfunding rules. These rules require funding portals to submit various forms and documents for transparency, including registration forms, amendments, and records maintenance. The SEC estimates this process costs the industry about $618,293 yearly and takes around 36,315 hours. This request for public comments is part of an effort to renew approval for these procedures from the Office of Management and Budget.

The Federal Communications Commission (FCC) has changed the rules for letters of credit (LOCs) required for recipients of high-cost support under the Universal Service Fund programs. Previously, banks needed a specific safety rating to issue LOCs, but now they must be “well capitalized” according to federal bank standards. This change aims to make it easier for companies to secure LOCs, which are necessary to ensure rapid broadband deployment. Additionally, the FCC is allowing recipients to reduce the value of their LOCs faster if they meet certain deployment milestones, freeing up funds for more broadband expansion.

The Federal Trade Commission (FTC) is asking the Office of Management and Budget (OMB) to extend for three years the current clearance under the Paperwork Reduction Act for information collection related to the Pay-Per-Call Rule. This rule helps prevent unfair acts in pay-per-call services. The FTC is seeking public comments by February 20, 2025, on these information collection requirements. They clarify that previous comments incorrectly viewed the request as proposing new rules, rather than continuing existing requirements.

The Commodity Futures Trading Commission (CFTC) has finalized new rules to address several operational challenges faced by Swap Execution Facilities (SEFs) and their market participants. These changes include eliminating the requirement for SEFs to capture and retain post-execution allocation information in their audit trail data. Additionally, the financial resources requirements have been amended to reduce burdens on SEFs while ensuring compliance with regulatory standards. The rules also simplify the duties and reporting requirements of a Chief Compliance Officer, allowing more flexibility and efficiency in SEF operations.

The Securities and Exchange Commission (SEC) has disapproved a proposed rule change submitted by the Cboe BZX Exchange, Inc., which aimed to extend the time allowed for certain exchange-traded products (ETPs) to meet minimum listing requirements. The Exchange wanted to increase the compliance period from 12 to 36 months for ETPs to have a minimum of 50 beneficial holders, arguing it aligns better with the ETP lifecycle and current market conditions. However, the SEC found that the Exchange did not provide enough evidence to ensure this change would protect against market manipulation and protect investors. Despite receiving some support from commenters, the proposal was deemed inconsistent with the necessary regulatory requirements.

The Department of Labor (DOL) is asking for public comments on a report that deals with keeping records of COVID-19 exposure and incidents in healthcare settings. This request is being reviewed by the Office of Management and Budget (OMB) as per the Paperwork Reduction Act requirements. The report aims to gather information that helps protect healthcare workers from COVID-19 but is currently not being actively enforced. Meanwhile, the DOL is seeking approval to continue collecting this information for three years as it considers removing these requirements altogether.

The Food and Drug Administration (FDA) is releasing a draft guidance for the industry about labeling plant-based foods that are alternatives to animal-derived products, like plant-based meat and eggs, but not plant-based milk. This guidance aims to help companies label these products in a way that clearly shows what the foods are, especially because there are no standard naming guidelines for many of these new products. The FDA believes this guidance will help consumers make informed choices. Comments on this draft can be submitted by May 7, 2025, electronically or on paper.