Tag:

rulemaking

A Look at Regulation Systems Compliance and Integrity

The U.S. Securities and Exchange Commission (the “SEC”) adopted Regulation Systems Compliance and Integrity (“Reg SCI”) to strengthen the technology infrastructure of the U.S. securities markets by imposing new regulatory requirements on SCI entities. The term “SCI entity” includes self-regulatory organizations (“SROs”) such as stock and options exchanges, registered clearing agencies, the Financial Industry Regulatory Authority (“FINRA”), and the Municipal Securities Rulemaking Board (“MSRB”); certain alternative trading systems; disseminators of consolidated market data, such as the Consolidated Tape Association; and certain exempt clearing agencies. The regulatory requirements were designed to reduce the occurrence of systems issues, improve resiliency when systems problems do occur, and to enhance the SEC’s oversight and enforcement of securities market technology infrastructure.

Regulatory Freeze for Review of Pending Rules

Ryan Meade Editor-in-Chief Director of Regulatory Compliance Studies at Loyola University Chicago School of Law   As has been the case for every new Administration since 1981, the President has issued a freeze of final regulations that have not gone into effect.  The instruction usually comes through the Chief of Staff and is referred to …
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The Opening of 2017 in Regulatory Compliance

Ryan Meade Editor-in-Chief Director of Regulatory Compliance Studies at Loyola University Chicago School of Law   In continuing to examine the regulatory Wunderkammer of the Federal Register, the first volume of the year holds some interesting items in its opening pages. Page 1 of the 81st volume starts out somberly with Executive Order 13757, “Taking …
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The Closing of 2016 in Regulatory Compliance

Ryan Meade Editor-in-Chief Director of Regulatory Compliance Studies at Loyola University Chicago School of Law   Early before dawn on the last day of the 2016 Federal Register, 19 pistachio handlers in the United States were greeted with an easier compliance burden for 2017.  But we’ll return to that later. Why January 1 starts the new year is a bit …
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CMS Issues Proposed Rule Addressing Multiple Fraud and Abuse Concerns

Kaitlin Lavin Executive Editor Loyola University Chicago School of Law, JD 2017   The Centers for Medicare and Medicaid Services (CMS) recently proposed a new rule in the Federal Register that addresses changes in Medicare payment policies. The proposed rule aims to inform providers of proper billing practices and prevent fraud and abuse.  This post …
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19 Ingredients, 2.2 Million Pounds of Product and $368.7 Million to Comply

Brittany Tomkies Executive Editor Loyola University Chicago School of Law, JD 2017   The Food and Drug Administration (FDA) issued a final rule on September 2, 2016 establishing that certain over-the-counter (OTC) consumer antiseptic wash products (i.e. antibacterial hand and body soaps) containing certain active ingredients can no longer be marketed as they are not generally …
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The New Medicaid Managed Care Rule and Its Effects on Compliance Programs

Kaitlin Lavin Executive Editor Loyola University Chicago School of Law, JD 2017   The Centers for Medicare and Medicaid Services (CMS) recently published a new rule for state contracts with Medicaid Managed Care Organizations (MCO). Medicaid MCOs provide comprehensive services to beneficiaries for capitated payments. The effective date of the rule was July 5, 2016. …
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False Claims Act Penalties Double with DOJ New Interim Rule

Amanda Bogle Executive Editor Loyola University Chicago School of Law, JD 2017   On June 30, 2016, the Department of Justice joined other agencies in passing a new interim final rule, significantly increasing the penalties for the False Claims Act (FCA). Before, FCA penalties ranged from $5,500 up to $11,000 per false claim. The new …
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