INSIDE COMPLIANCE – Page 23 – Loyola University Chicago School of Law

The OFAC Continues to Enforce Strict Sanctions on Cryptocurrency Mixers

November 10, 2022Finance & Banking

Recently the U.S. Department of Treasury’s Office of Foreign Assets Control (OFAC) added Tornado Cash to its Specially Designated National List. As part of enforcement efforts, the list contains individuals and companies that have been owned or transacted with targeted countries or organizations that may prove to be a threat to the United States. This action gives rise to questions regarding “secondary” sanctions/designated risk, and the effect this policy has on smart contracts and other protocols.

complianceCryptocurrencyOFAC

The SEC and Its New Marketing Rule: Testimonials and Endorsements

November 9, 2022Uncategorized

The Securities and Exchange Commission’s (SEC) new marketing rule will take effect on November 4, 2022. Advertising and solicitation regulations have undergone a major overhaul after decades of continuity. Further, testimonials and endorsements are no longer prohibited, but their use will be conditioned on compliance with certain provisions. The new rule only applies to financial adviser’s communications that are advertisements, as defined in the new rule.

advertisingendorsementsMarketingprivate fundsRegulationSECtestimonials

The Need for Federal Regulation of Tracking Pixels to Protect Patient Data

November 9, 2022HIPAA & Health Information

In June 2022, a nonprofit news site called The Markup released a report stating that hospitals using Meta Pixel may be releasing patient data to Meta Platforms, Inc. (previously Facebook, Inc.). Since this report was released, many of the hospitals identified in the report removed pixel technology from their websites. In addition, some hospitals have released public breach notices and reported potential data privacy breaches to the US Department of Health and Human Services (HHS) Office of Civil Rights (OCR). Most recently, on October 20, 2022, Advocate Aurora Health, a large health system located in the Midwest, released a notice publicly announcing its potential pixel breach, which may affect as many as three million patients.

data privacyHIPAAprivacyPrivacy & Security

The Sicker, The Better: Cigna Orchestrates Fraudulent Scheme to Defraud Government

November 9, 2022Fraud & Abuse

Cigna Corporation (Cigna)–a global juggernaut in the insurance arena–faces a health care fraud lawsuit brought by the government under the federal False Claims Act (the FCA). By allegedly exaggerating patients’ illnesses to boost its own risk scores, Cigna secured inflated payments from the Medicare Advantage reimbursement system.

CongressDOJHealth InsuranceHealth Insurance Fraud

Return of the Union: How Workers are Organizing and Corporations Are Trying to Stop Them

November 4, 2022Uncategorized

In the last few years, especially after the start of the COVID-19 pandemic, there has been a noticeable growth in US labor organizing. Workers all over the country, from both large corporations and small companies, have gone on strikes and began forming labor unions in an effort to get better wages, working conditions, and benefits. Most recently, employees at large rail unions rejected a tentative deal to avert a walkout in September 2022 after it failed to adequately address their concerns. This is the latest, but certainly not the only, instance of workers demonstrating their increased bargaining power. We have also seen increased unionization movements by corporate employees at corporations like Amazon, Google, and Starbucks. However, as more corporate employees attempt to unionize, corporations have begun to push back, and the National Labor Relations Board (NLRB) has stepped in to put a stop to blatant anti-unionization efforts.

amazonEmploymentgoogleJournal of Regulatory ComplianceLabor and EmploymentLabor Compliancelabor unionsnational labor relations boardNLRAStarbucksunions

California’s COVID-19 Workplace Requirements Continue to Evolve

November 4, 2022Uncategorized

Emily Zhang Associate Editor Loyola University Chicago School of Law, J.D. 2024 On October 13, the California Department of Public Health’s (CDPH) issued a change to the California Division of Occupational Safety and Health (Cal/OSHA) Covid-19 emergency standard and issued a revised proposal for the non-emergency standard. The order updates the definition of “close contact” …
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californiaCOVIDCOVID-19EmploymentEmployment LawOSHA

What the Proposed Illinois Workers Rights Amendment Means for Your Company

November 3, 2022Uncategorized

November 8, 2022 marks the day Illinois constituents vote for midterm elections. That is if they have not already sent in early ballots. On the ballot this year, voters will see a proposed amendment that would add a new section to the Bill of Rights Article of the Illinois Constitution that would guarantee workers the fundamental right to organize and bargain collectively, and negotiate wages, hours, and working conditions. This post breaks down this new amendment, looks at the greater political debate, and analyzes how it affects Illinois businesses.

amendmentbusinesscomplianceElectionsEmploymentIllinoismidterms

Grocery Stores Merging: Will the FTC Allow the Kroger-Albertsons Deal to Proceed?

November 3, 2022Uncategorized

The current largest supermarket powerhouse Kroger announced on October 14 their intent to merge with Albertsons Companies, Inc., another huge supermarket retailer in the industry. Kroger owns many well-known stores such as Mariano’s, Ralphs, and of course it’s’ namesake, Kroger. Albertsons Companies owns the Chicago-land staple Jewel Osco and Safeway, among other supermarkets as well. The companies have executed an agreement for Kroger to acquire Albertsons for $24.6 billion. The merger comes in response to the rise of grocery shopping being done at “big box” stores like Walmart and Target, on top of rising food and produce prices from inflation and supply chain issues. However, the merger is facing a lot of backlash, and many are questioning whether it will even be able to pass regulatory procedures. If the deal is approved, it is questionable whether the merger between the two grocery giants will trickle down benefits to consumers.

Journal of Regulatory Compliance

Post-Pandemic Telehealth and the Fate of Adderall

November 2, 2022Food and Drug Law, Healthcare Compliance

During the COVID-19 pandemic, the federal government and the Drug Enforcement Agency (DEA) temporarily lifted the Ryan Haight Act’s mandate that imposes federal prohibition on online prescribing of controlled substances. The DEA waived its in-person medical examination requirement and set forth different criteria for controlled substances. For as long as the duration of the public health emergency (which was extended through January of 2023 this month), a patient can receive a controlled substance prescription without an in-person examination if the communication was conducted in a two-way, audio-visual, and real-time interactive communication. Covid highlighted the increased use of telehealth and digital health platforms. However, as telehealth surged, public policy has failed to move at the same speed.

DEAdrug prescriptionDrugshealthcaretelehealth

The Clock Continues to Tick for SEC Climate Proposal

November 2, 2022Uncategorized

Juhi Desai Associate Editor Loyola University Chicago School of Law, JD 2024 In March 2022, the U.S. Securities and Exchange Commission (SEC) released a 490-page proposal encouraging organizations to adopt climate-focused regulations. The policies could include climate disclosure requirements and an expense report detailing the effect climate change has on businesses. However, shortly after the …
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Department of EnergyEnvironmental Protection Agencyenvironmental regulationJournal of Regulatory ComplianceSEC