INSIDE COMPLIANCE – Page 18 – Loyola University Chicago School of Law

The Approval of Lab-Grown Meat: How Will it be Regulated?

October 20, 2023Uncategorized

Lab-grown meat, also known as cultured or cell-based meat, is recognized as a revolutionary innovation in the food industry. Lab-grown meat has garnered significant attention and investment because it offers a more sustainable alternative to traditional livestock farming. However, behind the promise of this cutting-edge technology lies a complex web of regulatory and compliance challenges that must be addressed to ensure its successful integration into the market.

Food and Drug Administrationhealth

This is the Troubled Teen Industry

October 18, 2023Compliance Spotlight

In 2020, many millennials turned to YouTube to watch what we thought would be a behind-the-scenes look into the life of Paris Hilton. What we didn’t expect was to learn that, just like thousands of teenagers across this country, Paris endured trauma while living in a “troubled teen” home. Since then, along with Congress, Paris has lobbied to enact laws to regulate the troubled youth facilities as it uses loopholes to get around what some would consider to be cruel punishment against kids.

abuseadvocatedocumentarydrphillindustryParis HiltonteenstelevisionYouTube

New Rule Proposed by the EPA to Regulate “Forever Chemicals” in Drinking Water

October 18, 2023Environmental

Under the Safe Drinking Water Act, the Environmental Protection Agency (EPA) has the authority to regulate drinking water contaminants and require monitoring of public water systems. On March 14, 2023, the EPA announced the proposed National Primary Drinking Water Regulation (NPDWR) for a new federal standard to regulate PFAS in drinking water. PFAS are synthetic chemicals that can repel oil, water, and stains, which makes them useful for many products and industries. While there are currently state laws regulating PFAS in drinking water, the federal rule would be a huge step towards reducing exposure to these “forever chemicals” and preventing harm to public health.

SEC Launches Largest Regulatory Blitz Since the Great Recession, and Wall Street Readies for War: Part Two of a Two Part Series

October 13, 2023Finance & Banking

Welcome back! Part One of this two-part series discussed the regulatory background of private funds and the increasing importance of private funds industry regulation today, particularly for retired and retiring Americans. Part Two of the series takes a closer look at the final new rules implemented by Securities and Exchange Commission (SEC) Chair Gary Gensler. The Chair released the new rules in August affecting private funds advisors and investors. This article also discusses Wall Street’s response to the new regulations and ends with its possible implications for the industry.

financial regulationrulemakingSEC

Politicians Allowed to Serve Long After the Retirement Age

October 13, 2023Uncategorized

With the recent death of trailblazing Congresswoman Diane Feinstein, discussion of whether Congress members, and politicians in general, should be allowed to serve long after the retirement age are becoming even more prevalent. This conversation is important as people who hold opposite opinions have valid arguments that must be considered. On one hand, the United States has banned age discrimination in the workplace. On the other hand, keeping people who have declining physical or cognitive health may pose a safety concern for our nation, especially when we are discussing high ranking officials. Ultimately, we are a nation for the people and by the people. Thus, we decide whether we place age limitations on our elected officials or not by going to the polls.

CongressElectionsPresidentRegulation

Bribery: Here to Stay

October 13, 2023Uncategorized

Earlier this year, Morgan Lewis and Compliance Week conducted a survey on anti-bribery and corruption efforts by compliance professionals. The results of the survey showed that there are not enough resources to combat recent trends in bribery. Recently, there have been multiple million-dollar settlements regarding bribery claims.

anti-briberyCorruptionSEC

The I.R.S. is using AI to Crack Down on Tax Evasion

October 12, 2023Uncategorized

The Internal Revenue Service (I.R.S.) issued a press release on September 8, 2023, detailing how the agency plans to use at least part of the $80 million dollar allocation it received from the Inflation Reduction Act last year. I.R.S. Commissioner Danny Werfel plans to use the funds to make compliance enforcement efforts and tax evasion identification more effective and efficient. How does he plan to do this? The overwhelmed and perhaps overworked agency will be using artificial intelligence (AI) programs and features to expedite and assist with redundant processes as well as to audit parties that are too complicated or large for the I.R.S.’s current capabilities.

accountingAIartificial intelligencefinanceIRStaxtax enforcementtaxestechnology

Neuropsychological Exams for Physicians: Good Practice or Discrimination?

October 11, 2023Healthcare Compliance

Recent instances of politicians experiencing medical episodes in the public eye have sparked discussions regarding age limits for politicians. However, a parallel conversation is emerging about the healthcare professionals responsible for our well-being. About four years ago, a small number of health care institutions began implementing various forms of neuropsychological testing policies for older physicians. Since then – over the past few years – this practice has continued to grow and become increasingly controversial. The ongoing debate centers around determining the appropriate age to commence testing for physicians, the specific parameters to test for, and the ethics of mandating such testing. These questions remain subjects of ongoing debate, yet considering the rising demographic of physicians over the age of 60, there is a growing argument for integrating some form of neuropsychological examination.

ADAADEAHealthcare ProfessionalsHealthcare Providers

Healthcare’s Red and Blue Pill: AI

October 10, 2023Healthcare Compliance

Artificial Intelligence (AI) has gained widespread attention, often perceived as a buzzword. Recently, concerns about its potential dangers and issues with plagiarism have surfaced. However, AI holds immense promise for transforming industries reliant on data analysis and predictive algorithms, especially in healthcare. AI can significantly improve healthcare by aiding in diagnosis, optimizing patient outcomes, reducing costs, and saving time.

AIHIPAAprotected health information

Sustainability and Environmental Regulations in the Food Industry

October 6, 2023Environmental

The food industry is crucial for ensuring food security and plays a significant role in the global economy. Yet, its environmental footprint often exacerbates the ecological crisis, nudging regulators and stakeholders towards more sustainable practices. Exploring the connection between sustainability initiatives and environmental regulations in the food industry unveils a complex narrative overflowing with progress and challenges.