Search Results for keywords:"compliance burden"

The Treasury Department's Internal Revenue Service (IRS) is requesting public comments on forms used by business entities, as part of efforts to reduce paperwork and respondent burden. This request is in compliance with the Paperwork Reduction Act of 1995 and involves forms such as 1065, 1120, and others related to business income tax returns. The IRS estimates that 13.9 million respondents will spend an average of 67 hours and 25 minutes, with a total annual monetized time valued at $56,152,000,000, and total out-of-pocket costs at $71,617,000,000. Comments are to be received by January 21, 2025, to ensure consideration.

The Securities and Exchange Commission (SEC) is seeking public comments on the information collection process required by Rule 204-3 under the Investment Advisers Act of 1940, as part of extending the current information collection approval. This rule mandates that investment advisers deliver brochures and updates to clients to keep them informed about any significant changes. The SEC estimates that complying with this rule takes about 4.04 hours annually for each adviser, affecting around 15,464 advisers. Feedback is requested on whether this process is necessary, accurate, and allows for improving the information’s quality and reducing the burden on advisers, with comments due by June 9, 2025.

The Securities and Exchange Commission (SEC) is requesting public comments on information collection related to rules for attorney conduct when representing companies. These rules require attorneys to report evidence of significant violations to the company's higher-ups or the SEC. The SEC aims to reinstate an approved process, which involves creating a legal committee when needed for reporting. The public is invited to comment on the necessity and burden of this reporting by March 31, 2025.

The Department of Housing and Urban Development (HUD) issued a notice about collecting information for the Continuum of Care (CoC) Program Homeless Assistance Grant Application. They aim to extend their current information collection process and are seeking public comments within 60 days. Interested parties can send their feedback via regulations.gov or directly to HUD's representatives. This feedback will help assess the need, accuracy, and potential improvements for the information collection process.

The Securities and Exchange Commission (SEC) is asking for public comments on the current information collection required by Rule 6h-1 under the Securities Exchange Act of 1934. This rule involves the listing standards for national securities exchanges and associations trading in security futures products, focusing on preventing price manipulation and coordinating trading halts. Public feedback is sought on the necessity, efficiency, and burden of this information collection, and comments can be submitted by May 12, 2025. This process is part of the SEC's efforts to continue complying with the Paperwork Reduction Act of 1995.

The Department of Defense, General Services Administration, and NASA have issued a final rule that updates the Federal Acquisition Regulation to comply with a section of the Frederick Douglass Trafficking Victims Prevention and Protection Reauthorization Act of 2018. This rule mandates that domestic air carriers contracting with the federal government to provide passenger air transportation must submit annual reports with details on training employees to recognize human trafficking, notifications received about potential human trafficking instances, and any actions taken in response. The new requirement applies to commercial services contracts but excludes contracts for commercial products and those awarded by the Department of Defense. The regulation aims to support the fight against human trafficking by ensuring air carriers are vigilant and report suspicious activities.

On February 11, 2025, the Bureau of Industry and Security (BIS) will implement a rule to correct license requirements for certain advanced computing integrated circuits under Export Control Classification Number (ECCN) 3A090. This correction revises previous requirements from a rule issued on January 16, 2025, ensuring appropriate measures are in place for controlling these exports. Comments on this correction must be submitted by March 14, 2025. The rule adjusts which entities must provide data to BIS and specifies when worldwide license requirements apply, focusing on structures and performance metrics for integrated circuits.

The Federal Communications Commission (FCC) is asking for public comments about their information collection efforts as part of reducing paperwork, in line with the Paperwork Reduction Act of 1995. This includes feedback on the necessity and accuracy of the FCC's data collection, how to improve the process, and how to lessen its burden on small businesses. The information collection focuses on the E-Rate program, which helps schools and libraries receive discounts on communication services. The FCC has revised the forms used in this program to ensure compliance and prevent fraud, increasing the expected public burden to 195,615 hours annually.

The Securities and Exchange Commission (SEC) has requested an extension from the Office of Management and Budget (OMB) for the continued collection of information under Rule 30e-2. This rule requires unit investment trusts (UITs) to send financial reports to their unitholders and allows for "householding," where investors who share an address can receive a single report if they have given assent. The SEC estimates the annual burden for complying with this rule is 15 hours per respondent, affecting about 671 UITs, with a total cost of $4,495,700. Public comments on this request are invited until 30 days after the publication of this notice.

The Securities and Exchange Commission (SEC) has requested approval from the Office of Management and Budget (OMB) to extend the information collection requirements under Rule 606 of Regulation NMS. Rule 606 mandates that broker-dealers disclose certain information about their order routing practices to ensure transparency, particularly regarding stocks and options. The SEC estimates that compliance with this rule involves a significant annual time burden of 183,000 hours and an annual cost burden of $1,300,000 across the industry. The public is invited to comment on this request by February 18, 2025.