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New Rules for Illinois Firearms Dealers

The Firearms Dealers License Certification Act (also known as the Combating Illegal Gun Trafficking Act) was signed into law on January 18, 2019 and requires all Federal Firearms License (FFL) dealers engaged in the business of transferring firearms to have their FFL certified by the Illinois State Police. Nevertheless, many areas of the regulations remain in dispute and strong opposition has led to the delay of dates for required compliance. The Act is also being challenged by the Illinois State Rifle Association and a number of gun dealers in Illinois who deem that the Act is an unconstitutional infringement on their right to keep and bear arms.

Telehealth in the Age of COVID-19

The Health Insurance Portability and Accountability Act – enacted in 1996 by the U.S. Congress and signed by then-President Bill Clinton – has long served to maintain the standards of electronic health records and patient privacy, among many other provisions. Violating HIPAA can result in both criminal prosecution as well as steep civil penalties. As the healthcare industry transitioned from the use of paper records to storing patient data on electronic health records over the last two decades, health organizations have learned to adapt to HIPAA compliance, with many increasing their compliance programs by hiring full-time compliance officers, designating an individual as the compliance manager, and/or appointing a compliance committee within the organization.

The Regulation of Meat and Poultry Processing Facilities in COVID-19

The meat and poultry packing industry has recently fallen victim to the spread of COVID-19. Among fierce backlash over the federal government’s lack of action to protect meat packing facility workers, the CDC and OSHA released interim guidelines. These guidelines are to be followed by employers not only to keep workers safe, but to avoid a shortage of one of America’s most prized food sources: meat and poultry. The meat packing industry, as one of the most heavily-regulated industries in the United States, now faces increased regulation during a global pandemic.

Employer Compliance with CARES Act

On March 27, 2020, President Donald J. Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act (H.R. 748), otherwise known as the “CARES” Act. Originally introduced in January as the Middle-Class Health Benefits Tax Repeal Act, the bill was then revised to address the needs of the United States amid the coronavirus pandemic. The bi-partisan CARES Act, with strong support from the White House, ultimately passed the House of Representatives with a 419-6 roll call and the Senate with 96-0 votes.

Tiger King and Zoo Auditing

Libby Meadows Associate Editor Loyola University Chicago School of Law, JD 2021 Like many people during this quarantine, the majority of my days are spent switching through different streaming sites trying to find anything entertaining to watch. Towards the end of March Tiger King: Murder, Mayhem and Madness was released on Netflix. It instantly took …
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Revamping America’s Organ Transplant System

 In December of 2019, two new rules were proposed by the federal government to increase the number of organ transplants in the United States. As of July 2019, 113,000 Americans sat on the national transplant waiting list. The first proposed rule would change the way Organ Procurement Organizations (“OPO”) report data on the number of organs procured. The second proposed rule creates new legislation to assist living donors after their transplant procedures. Both rules were proposed by the Health and Human Services Department (“HHS”) as a follow up to President Trump’s Executive Order on Advancing American Kidney Health.

Student Loans and Conforming Mortgage Guidelines

In the United States, a mortgage is considered “conforming” if it meets the guidelines of Freddie Mac (the Federal Home Loan Mortgage Corporation) and Fannie Mae (the Federal National Mortgage Association). Both Freddie Mac and Fannie Mae buy mortgages, pools them, and then sells them back to the open market for investors. In 2008, the federal government put both organizations into a conservatorship due to the financial meltdown and subsequent economic recession. As such, the government now has stringent guidelines that homebuyers must meet if they want to qualify for a Freddie Mac or Fannie Mae mortgage.

Agencies Approve Notice of Proposed Changes to Volcker Rule

At the end of January, the Federal Reserve Board, the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the U.S. Securities and Exchange Commission, and the U.S. Commodity Futures Trading Commission (the “Agencies”) approved a notice of proposed rulemaking (“Proposed Rule”) to amend the “covered fund” provisions of section 13 of the Bank Holding Company Act, also known as the “Volcker Rule” (the “Rule”).  The Volcker Rule is a regulation that generally prohibits banks from certain investment activities with their own accounts and limits their dealings with private equity and hedge funds, also known as “covered funds.”

Illinois Amends the Cannabis Act. How Does This Affect Employers?

On June 25, 2019 Illinois Governor JB Pritzker signed the Illinois Cannabis Regulation and Tax Act, “The Cannabis Act” which legalized recreational cannabis beginning January 1, 2020 for adults aged 21 years and older. Illinois residents are permitted to possess 30 grams of cannabis flower, 5 grams of cannabis concentrate, and 500 milligrams of THC contained in a cannabis-infused product. The possession limits are to be considered cumulative. The legalization of adult-use marijuana for recreational purposes in Illinois does not modify the state’s medical cannabis pilot program.

How has the SEC’s Approach to Emerging Fintech Technologies Developed?

This October, the Securities and Exchange Commission filed an emergency action and obtained a temporary restraining order in the United States District Court for the Southern District of New York against two offshore entities, Telegram Group Inc. and its wholly-owned subsidiary, TON Issuer Inc. The SEC’s complaint asserted that the two offshore entities were conducting an unregistered offering of securities in the form of digital tokens in the United States and overseas, raising $1.7 billion to finance the businesses, including the development of its own blockchain the “Telegram Open Network” or “TON Blockchain.”