INSIDE COMPLIANCE

2022: The Year of US Data Privacy Laws?

February 4, 2022Alyssa WolslegelUncategorized

When you think of the most valuable commodity in the world today, you might automatically think of money, however, personal data has now become one of the most valuable forms of currency today. The vast amounts of personal data available have made it increasingly valuable to companies who know how to use it to their advantage. The means of receiving this data are sometimes questionable, and up until recently, often unregulated, leading to companies using unethical methods to get their hands on this valuable data. The US is starting to follow the rest of the world and develop extensive data privacy laws that cover more than just medical information to ensure that consumers are protected, but there’s still lots of disagreements surrounding how and what should be protected in the US.

consumer protectiondata privacyfederal data privacy lawsJournal of Regulatory CompliancePrivacy & Securityprivacy lawsstate data privacy laws

White House Issues Guidance Regarding Fighting Corruption

February 3, 2022Patrick ChomczykFinance & Banking, Fraud & Abuse

On December 6, 2021, the White House issued a consolidated federal strategy regarding fighting corruption that threatens national security. The memorandum directed a number of federal departments to conduct interagency reviews that allowed them to come together and proceed with a joint strategy to combat corruption in the United States.

anti-money launderingDepartment of the TreasuryForeign Reportingmoney laundering

Olympics Sponsors Keep Quiet as the 2022 Games Loom

February 3, 2022Krista SolanoAthletic Regulation, The Art of Compliance

The 2022 Beijing Olympics will reach millions of people around the world. Despite the Games quickly approaching, the most prominent Olympic sponsors have remained silent about the human rights violations in China. The United States announced the decision to diplomatically boycott the games but athletes will compete.

#2022Olympics#athleticregulation#BeijingOlympicsolympicsSportsUSOPC

The Supreme Court Is Not Protecting Women’s Rights, so Will the 49th Anniversary of Roe v. Wade Be Its Last?

February 2, 2022Logan SweeneyUncategorized

In 1973, the Supreme Court ruled in Roe v. Wade that states could not create onerous requirements that interfered with a patient’s right to an abortion up to the point of viability of the fetus, which was around 24 weeks. Roe and Planned Parenthood v. Casey established and protected patients’ rights to privacy and healthcare autonomy in reproductive health. However, as I previously explained in Abort Texas’ New Abortion Law, Texas’ new law erodes that decision. On January 20, 2022, the Supreme Court was presented with the opportunity to address this issue. The Court denied Texas abortion clinics’ request to immediately return to litigation over the Court’s acceptance of Texas’ six-week abortion law. However, the threat to reproductive health is not isolated to Texas; other states have enacted similar laws.

Health InsuranceJournal of Regulatory ComplianceRegulation

Big Tech vs the American Innovation and Choice Online Act

February 1, 2022Puja ValeraUncategorized

Amazon, Apple, Facebook, and Google are dominating the headlines with record-breaking profits and dismissals of antitrust lawsuits; however, that may not last long with new antitrust bills gaining traction in Congress. In fact, when the Senate Judiciary Committee voted 16 – 6 to advance a major antitrust bill on January 20, 2022, the American Innovation and Choice Online Act, the tech companies stock prices dipped. Currently, with bipartisan support, the bill is on a path to pass the Senate.

amazonAntitrustApplebig techCongressFacebookgoogleJournal of Regulatory Compliance

Lawmaker and Federal Official Stock Trading: Are More Stringent Regulations Necessary?

January 31, 2022Danielle McNamaraFinance & Banking

Although lawmakers must disclose their trades to the public, some members of Congress believe more stringent regulations are necessary to limit members’ trading activity. Specifically, Senator Jon Ossoff (D., Georgia) has become a leading voice, planning to introduce legislation that would compel members of Congress to put their assets in a blind trust. Moreover, Federal Reserve Chairman Jerome Powell has been pushing for stricter ethics rules for Federal officers amidst several resignations of Fed bank officers.

Journal of Regulatory Compliance

Compliance and Aducanumab – How Should Providers Balance FDA and CMS Guidance?

January 29, 2022Andrew ThompsonDrugs & Devices

As my colleague at Inside Compliance discussed here in September, the FDA approved Aducanumab for the treatment of Alzheimer’s Disease on June 7, 2021. Aducanumab, marketed as Aduhelm, is intended to reduce beta-amyloid levels. This compound is responsible for forming a “plaque” which inhibits neuron function and eventually triggers neuronal apoptosis (death of neurons). Now, a recent decision by CMS on insurance reimbursement for aducanumab has increased the compliance responsibilities of providers.

#Aducanumab#Aduhelm#Alzheimer's DiseaseCMSFDAregulatory compliance

The Not-So-Sustainable Side of Electric Vehicles

January 28, 2022Daniela RakowskiUncategorized

Set against the backdrop of climate change and a growing global push for sustainability, more people than ever before are turning toward Electric Vehicles (EVs) as a simple swap to reduce their carbon footprint – but are EVs really more sustainable? Although they might seem more sustainable, the long-term impacts of EVs on the environment are still not entirely known. While EVs reduce fossil fuel consumption now, what happens to the battery in an EV when it dies? Can it be recycled? How are the batteries produced? All these factors contribute to an uncertainty around EVs that has governments and scientists thinking of ways to improve the sustainability of the EV industry.

battery recyclingbattery wasteelectric vehicleelectric vehicle batteryEnergyenvironmental regulationEV

Regulating Crypto Markets through the Build Back Better Act: Crypto Investors’ Future Compliance with Wash Sale Rules

January 27, 2022Gavin MartinFinance & Banking, The Marketplace

The Build Back Better Act, which passed through the House of Representatives in November 2021, has been stalled in the Senate for several months. Senate Majority Leader Chuck Schumer has insisted that Democrats will work until the bill is passed. Within the Build Back Better Act, cryptocurrencies are shifted from being treated like property to being treated more like traditional securities, subjecting all digital currencies to wash rules under Section 1091. With cryptocurrencies collectively evaluated at upwards of $3 Trillion in 2021, crypto investors under the Build Back Better Act would be subject to the regulatory anti-abuse rules that currently apply to both stocks and bonds. This move by Democrats is for taxing purposes, but ultimately will call into question the IRS’ ability to regulate certain crypto transactions and asset disclosures. Additionally, questions have been raised as to the future regulation of cryptocurrencies and what that will mean for one of the most volatile trading markets.

blockchainCryptocurrencyIRSJournal of Regulatory Compliancetax

Investor Choice Act Approved by House Committee

January 26, 2022Jeffrey HymenFinance & Banking

For several years, broker-dealers and investment advisory firms have typically required harmed investors to dispute matters through arbitration rather than the court system. However, the House of Representatives’ Financial Services Committee has approved a bill aimed at prohibiting mandatory arbitration commonly imposed by broker-dealers and investment advisory firms. H.R. 2620, known as The Investor Choice Act, restricts investment advisors and broker-dealers from including pre-dispute binding arbitration clauses in their client agreements. The Investor Choice Act addresses “long-standing and deeply unfair practices of forcing customers to resolve their claims through arbitration instead of as part of a class action,” according to Maxine Waters, Chairwoman of the Financial Services Committee.

CongressDodd-FrankFinancial services complianceFINRAMandatory ArbitrationRegulationSecurities and Exchange Commissionsecurities exchange act