Search Results for keywords:"Inflation Adjustment"

The Social Security Administration (SSA) has updated the maximum civil monetary penalties to account for inflation, as mandated by the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015. These adjustments are effective from January 15, 2025, through January 14, 2026. For example, the penalty for fraud facilitators in positions of trust will increase from $9,704 to $9,956, and for violative broadcasts, the penalty will rise from $63,991 to $65,653. The SSA uses the October Consumer Price Index and guidance from the Office of Management and Budget to calculate these annual updates.

The National Endowment for the Arts (NEA) has issued a final rule to adjust the maximum civil monetary penalties for specific violations to account for inflation, in compliance with the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015. Effective January 13, 2025, these adjustments apply to penalties under the Program Fraud Civil Remedies Act and Restrictions on Lobbying. The penalties are calculated based on a specific Consumer Price Index for All Urban Consumers (CPI-U) multiplier. This rule ensures that the penalties remain effective deterrents without any need for public comment, as established by the requirements of the 2015 Act.

The Securities and Exchange Commission (SEC) published a notice to adjust civil monetary penalties for inflation, as required by the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015. This annual adjustment considers inflation changes measured by the Consumer Price Index for Urban Consumers (CPI-U) and applies to penalties under several acts, including the Securities Act of 1933 and the Sarbanes-Oxley Act. These new penalty amounts are effective from January 15, 2021, for violations occurring after November 2, 2015. The updated amounts are published in the Federal Register and on the SEC's website.

Nasdaq BX, Inc. has proposed a rule change to adjust fees related to options market data products, such as BX Top and BX Depth, according to the rate of inflation. This change was filed with the Securities and Exchange Commission and is intended to take effect immediately, with the operational date set for January 1, 2025. The proposal aims to adjust various distribution and subscriber fees to account for inflation since they were last updated. The Securities and Exchange Commission is inviting public comments on this proposal, with comments due by February 3, 2025.

In compliance with the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015, the National Indian Gaming Commission (NIGC) is updating its rules to adjust civil monetary penalties for inflation. These changes are designed to ensure penalties remain effective and serve as a deterrent. For 2021, the cost-of-living adjustment multiplier is 1.01182, raising the maximum penalty from $53,524 to $54,157 per violation. This adjustment applies to penalties assessed after February 1, 2021.

The Department of Commerce has issued a final rule to adjust civil monetary penalties (CMPs) for inflation, effective January 15, 2021. This adjustment is required by the Federal Civil Penalties Inflation Adjustment Act and aims to ensure the penalties continue to serve as a deterrent. The changes will only apply to penalties with a specific dollar amount and will affect those assessed after the effective date. The penalties are adjusted based on the cost-of-living increase from October 2019 to October 2020.

The Department of Veterans Affairs (VA) has updated its regulations to adjust for inflation the civil monetary penalties under its jurisdiction. This action is aligned with the Federal Civil Penalties Inflation Adjustment Act and is mandatory for ensuring penalties keep their deterrent power. For 2025, the penalties for false certifications related to VA-guaranteed loans have been increased from $27,894 to $28,619, and penalties for false claims to VA have risen from $13,946 to $14,308. The changes take effect on January 10, 2025, and were made without public comments due to the statutory requirements.

The Department of Education has issued new regulations to adjust penalties for inflation, as required by the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015. These adjustments affect various fines related to educational institutions and government interactions, such as failure to report information or improper lobbying. The changes, effective January 21, 2025, are calculated using a set multiplier for inflation and will impact penalties assessed after this date for violations occurring post-November 2, 2015. The adjustments ensure the penalties continue to serve their deterrent purpose without being subject to a public comment period, as allowed by the law.

The U.S. Office of Government Ethics has issued a final rule to adjust the civil monetary penalties related to the Ethics in Government Act, following the guidelines of the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015. This rule updates the penalty amounts based on inflation, using a specific formula, to maintain their deterrent effect. The penalties for various violations have been increased slightly, such as those related to financial disclosures and breaches of trust, and these changes apply to penalties assessed after January 15, 2021. The adjustments help ensure that monetary penalties keep up with the cost of living over time.

The NCUA Board has finalized a rule to adjust the maximum amounts of civil monetary penalties (CMPs) it can impose, based on inflation, as mandated by the Federal Civil Penalties Inflation Adjustment Act. These adjustments, which must be made annually, are calculated by comparing the consumer price index for previous years. The new rule takes effect immediately upon publication and applies to penalties assessed for violations from November 2, 2015, onward. The adjustments are largely technical and do not require public notice or comment.