Tag:Regulation
How Proxy Access for Shareholders Can Hold Corporations Accountable
Proxy access is not about giving shareholder’s rights, it is about checking C-suite power so that everyone wins instead of just the CEOs. Proxy access has the potential to address some of the pressing issues with corporate power. Corporate power and influence are concentrated in the board of directors, proxy access gives shareholders the opportunity to infiltrate this exclusive “inner circle” of power. Shareholder access to the board can push change towards greater diversity in the boardroom and demand greater transparency and compliance.
SEC Adopts New Rules for Whistleblower Program
Twelve years after the 164-year-old brokerage firm Lehman Brothers collapsed during the global financial crisis that had been sparked by the subprime mortgage catastrophe, last month the U.S. Securities and Exchange Commission (SEC) adopted a new rule changing parts of the agency’s whistleblower program. The program, which was established by the Dodd-Frank Act in 2010, permits the agency to provide financial awards to whistleblowers who provide it with original information about fraud and securities violations. At issue in this new rule is how the SEC will evaluate and apply its award criteria based on the circumstances in each case. Commissioners voted 3-2 to adopt the final rule – which is effective 30 days after publication in the Federal Register – during their Sept. 23 meeting. The SEC said the new rule was aimed at more efficient claim processing, increased transparency to the structure used by the Commission in determining award amounts and making other changes that reflect the Commission’s experience overseeing the program.
DOL Proposes Rule That Could Recategorize Many Employees into Independent Contractors
The U.S. Department of Labor (“DOL”) has recently proposed a rule change that would revise its interpretation of “independent contractor” under the Fair Labor Standard Act (“FLSA”). According to DOL, which has the power to investigate worker complaints about misclassifications, this change is needed to promote certainty for stakeholders, reduce litigation, and encourage innovation in the economy. However, this proposed rule could also diminish employee rights because independent contractors have fewer protections under FLSA. This rule widens the scope of who can be considered an independent contractor. Thus, many workers classified as employees could be reclassified as independent contractors and lose protections under FLSA.
Rural Hospitals in Crisis Receive a Boost to Value-Based Care Model from New CMS CHART Model
The Centers for Medicare & Medicaid Services (“CMS”) Innovation Center (“CMMI”) recently announced a new model for health care providers in rural areas to receive payment from the federal government. The Community Health Access and Rural Transformation (“CHART”) initiative aims to improve rural health care while promoting the Trump Administration’s push to shift health care providers into a more expansive value-based payment model.
A New Housing Crisis: Navigating Changing Guidelines and Relief in a Pandemic
Patrick Gilsenan Associate Editor Loyola University Chicago School of Law, Weekend JD 2023 Americans looking for relief and regulatory protections in the face of an eviction and foreclosure crisis have been met with a patchwork system of confusing, temporary, and difficult to navigate government programs. The eviction ban established by the CARES Act has expired, …
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How COPPA and FERPA affect Education in the Age of Remote Learning
As thousands of schools across the country comply with state and local social distancing orders due to the global pandemic COVID-19 for this 2020-21 school year, many schools are now faced with having to educate students from their homes in either hybrid or fully remote models. Millions of students are now utilizing online educational services to aid in remote learning. Although these education technology companies (“EdTech”) are now providing crucial remote learning opportunities for students, school districts must also keep students’ privacy rights in mind. Many of these EdTech services will collect and use personal information of students who use their services. This is where the Federal Trade Commission’s Children’s Online Privacy Protection Act (“COPPA”) pertains.
CRISPR Technology. A Chicken-And-the-Egg Problem of Scientific Advancement and Regulatory Oversight.
It’s been nearly two years since Chinese researcher He Jiankui shocked the scientific community and the world when he claimed to have genetically modified the genome of two human babies for resistance to HIV using CRISPR technology. Jiankui operated under the guise of reducing the HIV/AIDS disease burden in Africa, a seemingly admirable pursuit. But geneticists and ethicists considered the experiment , and done in pursuit of personal gain.
Workplaces and Regulations During a Public Health Crisis
The U.S. Department of Labor’s Wage and Hour Division (“WHD”) recently announced alterations to its previous regulations which expanded family and medical leave provisions and paid sick leave of April’s Families First Coronavirus Response Act (“FFCRA”). These revisions serve to clarify the responsibilities of employers and the rights of workers as they relate to the paid leave of FFCRA. These revisions come after a decision from the U.S. District Court for the Southern District of New York which invalidated portions of the initial regulations. The WHD’s revisions are an example of the lack of clarity and adequate response from regulations designed to protect workers during the current pandemic.
How Will Stronger Internet Privacy and Election Laws Impact Facebook?
During his election campaign, President Trump hired Cambridge Analytica, a political data firm, to gain access to the private data of more than 50 million Facebook users. The data included users’ personal identities, friend networks, and “likes.” The election campaign and Cambridge Analytica team used users’ data to target political and digital ads, increase online fundraising, and reach out to and sway undecided voters.
In 2019, following intense public criticism and accusations of political bias and censorship, Facebook CEO, Mark Zuckerberg, began advocating for the regulation of four areas: harmful content, election integrity, privacy, and data portability. However, no legislation has been passed, no regulation has been implemented, and Zuckerberg has not offered support for any proposals. A blank promise with no action. Congress needs to work with countries around the globe in order to regulate Facebook as a public utility and ensure that hate speech and incitements of violence are not tolerated.
DEA Introduces New Rule on Hemp Derivatives, Extracts, and Cannabinoids
The Drug Enforcement Administration (DEA) recently published an interim rule on hemp and hemp derivatives to reflect the statutory amendments to the Controlled Substances Act (CSA) made by the Agriculture Improvement Act (2018 Farm Bill). This new rule modifies the DEA’s existing regulations in an attempt to conform with the 2018 Farm Bill’s purposeof legalizing and regulating the hemp industry.