Tag:Journal of Regulatory Compliance
From Beans to Banking
Starbucks. What comes to mind? Expensive coffee in a nice atmosphere? Mermaids? A warm pumpkin spice latte? Perhaps. However, the words “billion-dollar bank” likely do not cross anyone’s mind. As wild as it seems, the huge coffee company actually has $1.5 billion in assets, an amount larger than eighty-five percent of the banks in the United States. Not only is Starbucks flush with cash, but, unlike actual banks, it can use this money to invest in other ventures, invest in the marketplace, or expand its business. This begs the question, is Starbucks merely a coffee company or will it join the ranks of Bank of America and Citibank?
Should The US Implement More Federal Data Privacy Laws
While the United States does have some federal data privacy regulations in place, the most comprehensive regulations exist at the state level with a degree of variation of protection from state to state. Recently, more conversations are being had about whether the United States should implement more federal data privacy laws. Proponents say they would likely use something equivalent to the European Union’s General Data Protection Regulation (GDPR), which focuses on regulating consumer data privacy and protecting consumers from data breaches. This is especially significant because states are taking matters into their own hands by passing state data privacy regulations that all vary slightly, which could become confusing for companies trying to be compliant with more than one.
Data Brokers: How Much is Your Fourth Amendment Right Worth?
The ability to purchase private data through commercial data brokers has become increasingly easy. Data brokers originally gained popularity as a way to assist marketing and advertisements, allowing companies to better communicate with their consumers. Lawmakers worry data brokers’ products have begun to cater towards law-enforcement, causing constitutional concerns.
Professional Sports Leagues and Vaccine Mandates
Following President Biden’s announcement mandating vaccinations for companies with over one hundred employees, major professional sports leagues may be required to ensure compliance with the mandate. This mandate has the potential to have sweeping implications throughout professional sports, from the athletes, to staff and even spectators. The NFL, NBA, and MLB all have high vaccination rates among their players and the staff that works closely with them, since many teams have already mandated that players and those working in “close proximity” to them be vaccinated. However, their back-office staff are less protected, as those employees have yet to be subjected to strict protocols of the rest of the leagues. Despite these high vaccination rates among athletes and certain staff members, the leagues have been reluctant to institute absolute mandates. But that doesn’t mean that athletes don’t still have a responsibility not only to get vaccinated but also encourage others to do so as well.
The Questions of Scotland’s Independence: The Rise of Scottish Nationalism, Trade Concerns, and the Future of Economic Regulatory Policies
Collectively, four countries make up the United Kingdom (U.K.), including England, Scotland, Wales, and Northern Ireland. In 2016, an overwhelming number of Scottish citizens voted to remain in the European Union (E.U.) during the U.K. referendum, which resulted in a 51.89 percent vote in favor to leave. After departing from the E.U. in January of 2020, Scottish industries suffered economic losses due to the ‘red tape’ policies imposed by the U.K., making it more difficult to sell Scottish products to E.U. member countries. As a result, Scotland’s independence and nationalist movement grew exponentially, with forty-five of the fifty-nine Scottish seats in the House of Commons going to the Scottish Nationalist Party, with strong support of seceding from the U.K. Additionally, in 2019, Scotland’s Parliament reconvened for the first time since 1707, signaling the Scotland’s desire for self-autonomy and sovereignty. The possibility of seceding poses questions over the future of economic and social regulatory policies for an independent Scotland.
Texas Abortion Ban: The State-Sanctioned Killing of Poor Black and Brown Pregnant People
Texas Senate Bill 8 (“SB 8”), also known as “The Texas Heartbeat Act,” went into effect on September 1, 2021, banning abortions after six weeks of pregnancy or after the fetus’s heartbeat has been detected. Additionally, it awards any civilian who successfully reports someone for aiding, abetting, or performing an abortion after the six-week mark with $10,000. The United States Supreme Court, as Justice Sotomayor described, “buried their heads in the sand” and decided not to comment on the abortion ban’s constitutionality under the guise of a technicality. Historically, abortion bans have been death penalties to many people seeking abortions and contribute up to thirteen percent of pregnancy-related deaths. Abortion bans do not reduce the number of abortions, but rather reduce the number of safe abortions while increasing avoidable deaths. Abortion bans work as a form of dangerous regulatory mechanisms that function as the state-sanctioned killing of poor people who are often Black, Brown, and indigenous who cannot travel outside the state to receive care.
The Clean Water Act Revisited: First Application of the County of Maui v. Hawaii’ Wildlife Fund Test Favors Strong Regulation of Water Pollution
Daniel Bourgault Senior Editor Loyola University of Chicago School of Law, JD 2022 On July 15, 2021, the Hawaii’ federal district court became the first court to publish an opinion utilizing the functional equivalent analysis (“FEA”) established by the Supreme Court of the United States last year in the County of Maui v. Hawaii’ Wildlife …
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Stronger Health Regulations in the Fracking Industry Benefit the Industry and Workers Alike
As a compliance deadline set by the Occupational Safety and Health Administration (“OSHA”) for the fracking industry approaches on June 23, 2021, both the industry and the workers employed by it are seeing benefits. Created by the Occupational Safety and Health Act, OSHA sets out regulations meant to protect employees from work conditions that threaten their health and monitors and enforces compliance with those standards.
Exploring COVID-19 Vaccine Authorization by the FDA
As of April 22, 2021, 218,947,643 million people have received the COVID-19 vaccine. Before or during the appointment, your provider directs you to a fact sheet for the Pfizer-BioNTech COVID-19 Vaccine or Moderna COVID-19 Vaccine. On the fact sheet, there were a couple of sentences that caught my eye “The Pfizer-BioNTech COVID-19 Vaccine is a vaccine and may prevent you from getting COVID-19. There is no U.S. Food and Drug Administration (“FDA”) approved vaccine to prevent COVID-19.” When I read this, I wanted more information about the difference is between being authorized or approved. Like many people, one can become hesitant when a product is not adequately tested; in fact, a Kaiser research project shows about 30% of people probably or definitely not get the vaccine.
Crypto Confusion Leads to Legislative Action: Multiple Bills Introduced to Clarify Federal Regulation of Cryptocurrencies
Cryptocurrencies have often been associated with illegal activities due to the fact that they allow users to remain relatively anonymous. This anonymity is possible because, when transacting with Bitcoin and other cryptocurrencies, you can see where funds are being sent but not who sent or received them. However, there are signs that the use of crypto for unlawful purposes may be falling with illicit activity accounting for just 0.34% of all crypto transactions last year – down from roughly 2% a year earlier. Despite this improvement, cryptocurrency regulation appears to remain a top priority for federal lawmakers. One such example of this is the proposal of an anti-money laundering rule which would require people who hold their cryptocurrency in a private digital wallet to undergo identity checks if they make transactions of $3,000 or more. But Congress does not appear to be stopping there. As cryptocurrencies surged in value in recent days, lawmakers jumped to introduce two new bills aimed at advancing regulation of these precarious digital assets.