INSIDE COMPLIANCE – Page 20 – Loyola University Chicago School of Law

Melting Point: SEC’s Climate Disclosure Rule and Scope 3 Emissions

October 6, 2023Environmental

With every wildfire, catastrophic storm, and record-breaking heat, climate change is at our front doors. But what can help mitigate some of these effects? Regulations. Holding big polluters responsible for their carbon emissions is a crucial way to mitigate the effects of carbon emissions. Although many big companies voluntarily disclose some of their climate data, the pressure can come from investors, not the government. In an effort to enhance and standardize public companies’ climate data, the Securities and Exchange Commission (SEC) proposed a controversial Climate-Disclosure Rule in April 2022.

environmental regulationSEC

Microsoft is “Leveling Up”: Microsoft’s Acquisition of Activision

October 5, 2023Antitrust, Mergers & Acquisitions

On January 18, 2022, Microsoft announced that it will be acquiring Activision Blizzard, one of the world’s largest gaming corporations. This will be Microsoft’s biggest acquisition in the company’s history. The acquisition is an all-cash purchase, with Microsoft paying $95 per Activision share, totaling to around $68.7 billion dollars. Microsoft and Activision had an original signing date to complete the merger agreement on July 18, 2023, but the companies pushed the date back to October 18 amid regulatory pushback. Although the merger is exciting news for many companies and individuals, other are less than enthused about the new development.

Generation Green: Young Activists Pave the Way for Environmental Justice in America

October 5, 2023Environmental

From blizzards striking California to wildfires ravaging Hawai’i and extreme heatwaves scorching Illinois, our world is witnessing a cascade of unexpected and alarming events. But, these are not merely isolated incidents; they are the very manifestations that climate change experts have long warned us about. While global awareness of the need for action grows, the United States continues to lag. Notwithstanding the recent unveiling of the American Climate Corps by the Biden Administration, environmental policies across the country face resistance from courts and legislators, leading to the emergence of the ‘Green Scare’ movement. In this context, an unexpected trend has materialized—the younger generation is fighting back.

environmental regulationEPAMontana

The Cosmetic Industry Gets a Makeover: Building a Strong ‘Foundation’ for Safety Standards

October 4, 2023Uncategorized

On December 29, 2022, President Joe Biden signed a massive $1.7 trillion omnibus federal spending bill into law. Most notably, as tweeted out by Biden, this comprehensive legislation focused on investing in medical research and safety, veteran’s healthcare, disaster recovery, funding for the Violence Against Women Act, and military aid to Ukraine. Importantly, the bill also establishes the Modernization of Cosmetic Regulation Act of 2022 (MoCRA), which according to Biden, is “the most significant expansion of FDA’s authority to regulate the cosmetics industry since the Federal Food, Drug, and Cosmetic (FD&C) Act was passed in 1938.” This legislation ushers in long overdue and stepped-up regulatory oversight, compliance, and consumer protection in the previously loosely regulated cosmetics industry. This blog will discuss the need for the updated regulations, the landmark litigation that illustrated the negative impacts on consumer’s health from an industry that was less than transparent and under-regulated, and the intent of the new legislation including if the legislation goes far enough to protect consumers from potentially harmful products.

cosmeticsFood Drug and Cosmetic Act

Cybersecurity Compliance: Safeguarding Sensitive Information

October 2, 2023Uncategorized

In today’s interconnected world, cybersecurity regulations have become crucial for organizations to safeguard sensitive information, mitigating legal and commercial risks. Navigating the complex landscape of regulatory compliance can be a daunting task. However, organizations can effectively meet the regulatory compliance challenge and protect their data with the appropriate standards, procedures, and protocols.

cyber-securityFISMAFTC

The Future of Privacy in Tech Might Just Depend on Trust

September 29, 2023Uncategorized

It is fair to say that privacy is a priority for nearly all companies, but technology organizations in particular. Many have had to adopt and quickly develop robust compliance programs, documentation, reporting, and consumer request systems to comply with global privacy laws or face serious fines and consequences. In the United States alone, nine states (California, Virginia, Connecticut, Colorado, Utah, Iowa, Indiana, Tennessee, and Montana) have signed comprehensive privacy laws into effect with an additional 16 pending in local legislature. Beyond this, individual one-off laws such as the Illinois Biometric Information Privacy Act, signed into effect in 2008, make privacy even more important.

big techConsumer TrustPrivacy CompliancePrivacy ProgramTrust Center

College Tuition Payment Plans Are Putting Student Borrowers at Risk

September 28, 2023Uncategorized

Doria Keys Associate Editor Loyola University Chicago School of Law, JD 2025 College is typically the first instance in which many Americans encounter debt collection, lending, and credit reporting. The most common way that students borrow is by acquiring student loans, either from the U.S. Department of Education or from private financial institutions. A less …
Read more

CFPBEducationfinancial regulationRegulationTitle IV

Federal Trade Commission Proposed Rules Shake Up M&A Market

September 28, 2023Uncategorized

Tomer D. Elkayam Associate Editor Loyola University Chicago School of Law, JD 2024 The Federal Trade Commission (FTC) has announced proposed changes to the Hart-Scott Rodino Antitrust Improvement Act (HSR Act), which are considered the most substantive changes since its enactment 47 years ago. The HSR Act, which is codified at 15 U.S.C. § 18a, …
Read more

Fragrance Regulations Prioritize Wealth Over Health

September 28, 2023Uncategorized

Whether it is recognized or not, humans are exposed to a variety of products containing fragrances every single day. However, for something that is so common in the average human’s life, these chemicals are not as highly regulated as consumers would expect. While the Food and Drug Administration has requirements in place that fragrance formulas must meet in order to be incorporated in products, these formulas can also be considered “trade secrets.” This means that the formulas do not have to be disclosed to the public after FDA review. As a result, consumers should become more educated about potentially hazardous fragrance chemicals. These chemicals may lead to negative health consequences because they have gone unnoticed by the public.

cosmeticsFDAfragrance

New Mental Health Parity Rules on the Horizon

September 27, 2023Healthcare Compliance

On July 25, 2023, the Departments of Labor, Health and Human Services, and the Treasury (the agencies) proposed new rules placing heightened compliance standards on health insurers and plans regarding the use of Non-Quantitative Treatment Limitations (NQTLs) for mental health and substance abuse disorder (MHSUD) services. These new rules amend the current reporting requirements with the intent to establish ongoing reporting that more clearly demonstrates whether MHSUD services are provided in compliance with the law.

Health InsurancehealthcareMental Health Parity