Search Results for keywords:"exemptions"

The Centers for Disease Control and Prevention (CDC) has issued an order requiring passengers flying to the United States from foreign countries to present proof of a negative COVID-19 test or documentation of recovery from the virus. This order, effective January 26, 2021, supersedes a previous order and aims to prevent the spread of COVID-19, including new variants, by setting requirements for airlines and passengers. Exemptions include certain federal law enforcement and military personnel, as well as cases of emergency travel under specific circumstances. Airlines must verify and retain documentation for compliance, and failure to do so may result in penalties.

The Board of Governors of the Federal Reserve System has proposed a rule to change how Suspicious Activity Reports (SARs) are filed by certain financial institutions, like state member banks and bank holding companies. The rule aims to allow for exemptions from these requirements to help banks more effectively meet Bank Secrecy Act requirements, potentially leading to innovative ways to tackle financial crime. The Board will coordinate with FinCEN on exemption requests and is seeking public comments on the proposal until February 22, 2021. The proposal emphasizes that these exemptions won't relieve institutions from complying with FinCEN’s SAR regulations.

The Securities and Exchange Commission (SEC) has announced a notice regarding an application for exemptions from certain provisions of the Investment Company Act of 1940. The applicants, Strategas Securities, LLC and Strategas Trust, seek permission for unit investment trusts (UITs) to impose deferred sales charges and offer exchange and rollover options to unitholders, among other requests. They also ask for relief from requirements related to net worth and capital gains distributions, arguing it's necessary to facilitate their investment strategies. Interested parties may request a hearing on the matter by March 15, 2021.

The U.S. Nuclear Regulatory Commission (NRC) granted 68 exemptions to 26 licensees in response to the challenges posed by the COVID-19 public health emergency. These exemptions provide temporary or permanent relief from certain regulatory requirements, allowing facilities to manage staffing and safety measures more flexibly. Specifically, the record details exemptions related to work-hour controls, emergency preparedness exercises, and security personnel training to ensure operations can continue safely during the pandemic. The NRC is using a single Federal Register notice to compile these exemptions, enhancing transparency about the actions taken during this period.

The Securities and Exchange Commission has published a notice of an application for an order that would allow certain investment companies to participate in a joint lending and borrowing facility. This facility would enable participating funds to lend money directly to, and borrow money directly from one another, to cover unexpected cash shortfalls. The facility aims to offer reduced borrowing costs and enhanced returns on loaned funds, benefiting both borrowing and lending funds. The application, submitted by Symmetry Panoramic Trust and Symmetry Partners, LLC, seeks specific exemptions from various sections of the Investment Company Act of 1940 to implement this interfund lending facility.

The Federal Motor Carrier Safety Administration (FMCSA) of the Department of Transportation is renewing exemptions for 10 individuals who are deaf or hard of hearing, allowing them to continue driving commercial motor vehicles in interstate commerce. These exemptions are based on FMCSA's assessment that the drivers meet safety standards equivalent to those required by the hearing rules in the Federal Motor Carrier Safety Regulations. The exemptions, effective starting December 16, 2020, will last for two years unless revoked for specific reasons, such as non-compliance or decreased safety levels.

The Agricultural Marketing Service of the Department of Agriculture has finalized a rule making clarifying changes to the Paper and Paper-Based Packaging Promotion, Research, and Information Order. These changes update definitions and processes such as nominations, voting methods for Board meetings, financial reporting, and when exemptions can be requested, to better align with current industry practices. The updates also address how partnerships are recognized and clarify the obligations for paying assessments. Despite some mixed feedback during the public comment period, the rule aims to reduce confusion and improve fairness in the paper and paper-based packaging industry.

The Securities and Exchange Commission (SEC) has released a notice regarding an application from ISQ Infrastructure Income Fund and I Squared Capital Registered Advisor LLC. The application seeks exemptions from specific sections of the Investment Company Act of 1940, allowing certain registered closed-end investment companies to issue multiple classes of shares and impose early withdrawal charges and asset-based distribution or service fees. Interested parties have until March 31, 2025, to request a hearing about this application. The details of the application can be accessed via the SEC's EDGAR system.

The Environmental Protection Agency (EPA) has finalized a rule to address health risks posed by trichloroethylene (TCE) under the Toxic Substances Control Act. The rule includes prohibitions on the manufacture, processing, distribution, and use of TCE across various industrial and commercial applications, with certain phase-outs and exemptions focusing on critical uses such as in lead-acid battery separators and essential aerospace operations. All consumer uses of TCE are prohibited, and strict workplace controls are mandated for remaining uses until prohibition is fully implemented. These measures aim to eliminate the unreasonable health risks associated with TCE exposure, while providing time for affected industries to transition to safer alternatives.

The Office of the Comptroller of the Currency (OCC) is proposing a new rule that would allow exemptions from certain requirements tied to Suspicious Activity Reports (SARs), which banks and savings associations must file. This rule aims to give national banks and federal savings associations some flexibility if they come up with new, more efficient ways to comply with anti-money laundering laws, while still being reviewed for safety and soundness. The proposal includes guidelines on how banks can apply for these exemptions and factors that will be considered in granting them, like consistency with the Bank Secrecy Act and any supervisory concerns. The OCC is inviting public comments on this proposed rule until February 22, 2021.