Tag:enforcement
Insider Trading Isn’t Illegal if You Are a Member of Congress
Jon Ossoff, the freshman Senator from Georgia, has made it clear that he intends to put forth a bill that would ban members of Congress from trading individual stocks. This is a policy that seems likely to fail, but that doesn’t make it any less necessary. It is estimated that members of Congress and their families bought and sold over $500 million worth of assets. That’s not to say that all these trades were based on information not available to the general public, but it is clear that there is a massive conflict of interest in allowing law makers to trade stocks when their job is intrinsically tied to making decisions that affect the price of stocks.
Concert Venues Crowd Control Regulations
On November 5, 2021, Travis Scott performed a concert at the Astroworld Festival in Austin to a crowd of fifty thousand people. In the hour that he performed, eight people were killed in a deadly crowd crush (another concert goer losing their life days after), and hundreds were injured. Multiple lawsuits have been filed against Travis Scott himself, as well as the production companies that organized the show in response to the tragedy. In the wake of the devastating event, regulations concerning crowd control and management must also be considered, as well as whether these regulations were complied with by the organizers of Astroworld.
The Pandora Papers and the Bank Secrecy Act
The recent Pandora Papers leak in October 2021 shined the light on the massive and intricate web of offshore accounting that allows for insurmountable amounts of wealth to be hidden throughout the world. One of the most shocking revelations of these Papers was how heavily the United States was implicated in creating and perpetuating this system. As such, legislators have been pressured to find a way to crackdown on this sort of offshore money. One way that they have proposed addressing the problem is by amending the United States’ current criminal financial legislation, the Bank Secrecy Act.
Illinois Energy Code Compliance: A Lost Cause?
The International Code Council (ICC) originally adopted the International Energy Conservation Code (IECC) in 2000. The 2021 IECC addresses energy efficiency on several fronts including cost, energy usage, use of natural resources, and the impact of energy usage on the environment. As of June 2019, Illinois has adopted a statewide commercial and residential building code based off the 2018 IECC. This Illinois Energy Conservation Code (Illinois Energy Code) was implemented with the belief that buildings built in compliance with these energy performance standards would see annual energy costs reduced by approximately thirty percent.
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.
An Update on the Gamestop Frenzy: Calls for Regulation and a Congressional Hearing
Cora Leeuwenburg Associate Editor Loyola University of Chicago School of Law, JD 2022 The controversy surrounding the unprecedented movement by retail investors and Gamestop has not died down in the last month following the stock’s meteoric rise in price and dramatic fall. The wildly volatile stock has lost hedge funds millions and resulted in …
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Understanding the Executive Order on Rebuilding and Enhancing Programs to Resettle Refugees and Planning for the Impact of Climate Change on Migration
Climate change directly and indirectly impacts a range of human rights including the basic rights to life, food, water and housing. Along with all developed countries, the United States has an affirmative obligation to take measures to prevent and address climate change impacts thereby not only mitigating its dire effects, but ensuring that all displaced persons have, at a minimum, their basic needs met. These displaced persons are more often than not those who have contributed the least to climate change and are now disproportionately suffering from its harm.
Vertical Healthcare Companies Merging Compliance Programs
Vertical Healthcare Companies Merging Compliance Programs Perri Nena Smith Senior Editor Loyola University Chicago School of Law, JD 2021 In 2020, The Federal Trade Commission (“FTC”) and the Department of Justice (“DOJ”) released guidelines for vertical mergers to give clarity to companies so they can avoid harmful mergers. Healthcare companies are an industry that has been …
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FDA Finalizes Enforcement Policy Against Vaping
Amid the epidemic levels of youth use of e-cigarettes, the U.S. Food and Drug Administration, released a policy on January 2, 2020, requiring enforcement against certain unauthorized flavored e-cigarette products that appeal to kids. According to the policy, the FDA intends to prioritize enforcement against fruit and mint flavored, cartridge-based electronic nicotine delivery system (“ENDS”). The FDA looks to regulate all ENDS products that manufactures have failed to make safe for use, as well as any ENDS product marketed for use by minors. The 2019 National Youth Tobacco Survey (“NYTS”), a survey conducted annually by the FDA in conjunction with the Centers for Disease Control and Prevention, shows approximately 1.6 million youths were using ENDS products frequently, with nearly one million using e-cigarettes daily. The FDA’s enforcement policy is not a “ban” on flavored cartridges. If a company can demonstrate to the FDA that a specific product meets the applicable standard set forth by Congress, including considerations on how the marketing of the product may affect youth initiation and use, then the FDA could authorize that product for sale.
Supreme Court to Review SEC Authority in Enforcement Actionsment
The Supreme Court has granted certiorari to consider whether the Securities and Exchange Commission (“SEC”) has the authority to obtain disgorgement in district court actions. Disgorgement is the repayment of “ill-gotten gains” imposed as a court sanction to recover funds that were received through illegal or unethical business transactions. These recovered or disgorged funds are paid back with interest to those who the practice affected. Each year, the SEC obtains billions of dollars in disgorgement, so an adverse ruling by the Supreme Court could eliminate one of the SEC’s most important remedies for securities violations. In 2018, for example, the agency returned $794 million to harmed investors.