Tag:Regulation
Trump Administration Deregulates Financial Services
The Trump administration is delivering on its promise to deregulate America. Since taking office, numerous regulations spanning everything from energy to health care have been repealed or weakened. The financial services industry is not immune to the deregulation movement. The Trump administration is acting through appointments, executive agencies, and legislation to deregulate the financial services industry. Proponents of deregulation claim the movement is needed after Dodd-Frank and strict post-financial crisis regulation. However, in deregulating financial services, the Trump Administration—and compliance professionals—should proceed cautiously.
What Does a Federal Government Shutdown Mean for Compliance?
For the first time since 2013, on Saturday, January 20th, 2018, the U.S. government ran out of money when Congress failed to pass a spending bill to fund the federal government. Much of the federal government’s operations have ground to a halt due to the lack of funding. Because Congress is seemingly at an impasse over immigration policy, the shutdown may last several days, if not weeks. In light of Loyola’s upcoming symposium exploring what happens when regulation is not enforced, it is interesting to consider how, in a similar vein, the shutdown affects compliance.
The Effect on Compliance of Lowering Corporate Tax Rates is Uncertain
It is commonly accepted that lowering tax rates increases tax compliance and high tax rates encourage tax evasion. The recent U.S. tax reform bill, the Tax Cuts and Jobs Act of 2017, was enacted partly due to assumptions that lowered tax rates would increase tax compliance and recover lost revenue. Here, I examine the theoretical basis for the claim that lowering income taxes increases compliance, as well as the external evidence regarding the extent of increased compliance due to lowering tax rates.
ICD-11 on the Horizon: How Soon Will Healthcare Providers Actually Need to Comply?
In October 2015, the tenth revision of the International Classification of Diseases (ICD-10) was implemented in the United States. Three years earlier, however, ICD had already begun beta testing for its eleventh revision (ICD-11). The ICD-10 implementation came after repeated delays and substantial requirements for healthcare organizations to reach compliance with the new codes. The United States trudged through training and compliance struggles as it transitioned to ICD-10. The threat of ICD-11’s release in 2018 promises to have drastic and far-reaching effects on the compliance actions of healthcare organizations.
How will the Supreme Court’s new rule barring the government from refusing offensive trademarks affect the marketplace?
On June 19, 2017, the Supreme Court, in an 8-0 ruling, found that the government can no longer sensor trademarks on the grounds that they may be offensive. In Matal v. Tam, the Supreme Court Justices found the seventy-one year old rule allowing the government to refuse offensive trademarks to be unconstitutional and to violate free speech and first amendment rights. The justices were unable to agree on exactly what legal standard was to apply to the present case or future cases. The revocation of this seventy-one year old rule that has affected the registration of many marks over the years is bound to have an effect on the future of trademark law and trademark litigation. Immediately following the Supreme Court’s decision, the United States Patent and Trademark Office (USPTO) was inundated with requests to register offensive trademarks.
Deregulation of Uranium Mining or: How I Learned to Stop Regulating and Love the Bomb
Compliance professionals all over the country are paying close attention to the Trump administration’s deregulatory campaign. While deregulation in finance has received the most media attention, the uranium mining industry has been a quiet beneficiary of the President’s new regulatory scheme.
Cannabusiness – Banking in California
In November of 2016 voters in California passed the Adult Use of Marijuana Act which legalized the sale and use of marijuana throughout the state, similarly to states such as Colorado and Washington. Starting January 1, 2018, it will be legal to go to a licensed dispensary and purchase marijuana for personal use, without needing a medical marijuana card. However, marijuana possession or use is still a federal offense; navigating the new law can be hazy.
CMS Issues Proposed Rule Addressing Multiple Fraud and Abuse Concerns
Kaitlin Lavin Executive Editor Loyola University Chicago School of Law, JD 2017 The Centers for Medicare and Medicaid Services (CMS) recently proposed a new rule in the Federal Register that addresses changes in Medicare payment policies. The proposed rule aims to inform providers of proper billing practices and prevent fraud and abuse. This post …
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Medicare Regulations Compliance for Long-term Care Hospitals-within-Hospitals
Christine S. Kim Assistant Editor Loyola University Chicago School of Law, J.D. 2017 Due to the inextricably association between long-term care Hospitals-within-Hospitals (“HwHs”) and their respective Long Term Care Hospitals (“LTCH”), or host hospitals, efforts to circumvent compliance with federal reimbursement regulations have evolved. This blog article discusses the ways in which the Centers …
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Detroit Receiving Hospital, an affiliation of Detroit Medical Center Allegedly Used Contaminated Surgical Equipment
Fannie Fang Executive Editor Loyola University Chicago School of Law, JD 2017 On September 15, 2016, Michigan state regulators cited the Detroit Medical Center (“DMC”) for violating the State’s Public Health Code for failing to properly sterilizing surgical instruments. Although DMC promised to address the issue with correction actions, the violation has left an …
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