Tag:Regulation
Financial Regulation During COVID-19
Coronavirus (COVID-19) has shaken the world economy, not the least of which the financial industry. As the financial industry has adapted to work-from-home life under the coronavirus pandemic, industry regulators such as the SEC and the Financial Industry Regulatory Authority (FINRA) have been forced to adapt rules to changing circumstances and shift their enforcement priorities to pandemic related fraud.
Standardization and Cooperation Needed to Fix Crumbling Infrastructure
Northeastern Michigan was already facing a pandemic on May 19 when a breach in the Edenville dam forced 10,000 residents to flee their homes in the face of deadly floodwater. The dam failure elevates the need for state and federal regulators to standardize regulations and collaborate on their enforcement to prevent similar incidents.
Corporate Cybersecurity: Managing Data in the Era of Cyberattacks
Within the last decade, data has surpassed oil as the world’s most valuable commodity. Earlier this year the Securities and Exchange Commission (SEC) released its observations made during audits that detailed the methods used by corporations to secure their data. This included the kinds of cybersecurity practices employed by companies as well as advice on how to better deal with sensitive data and protect against potential cyberattacks. The SEC’s observations coincide with a recent announcement from the National Security Agency (NSA) that showcases an increased concern surrounding cybersecurity in the corporate world.
Employer Compliance with CARES Act
On March 27, 2020, President Donald J. Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act (H.R. 748), otherwise known as the “CARES” Act. Originally introduced in January as the Middle-Class Health Benefits Tax Repeal Act, the bill was then revised to address the needs of the United States amid the coronavirus pandemic. The bi-partisan CARES Act, with strong support from the White House, ultimately passed the House of Representatives with a 419-6 roll call and the Senate with 96-0 votes.
International Concerns Regarding Southeast Asian Aviation
Aviation accidents, though rare, occur all over the world. However, the relatively high frequency of airplane disappearances and fatal incidents in Southeast Asia has been a primary cause of concern within the industry. Most recently, on October 29, 2018, a Boeing 737 Max 8 operated by Indonesian airline Lion Air crashed into the Java Sea off the coast of Jakarta. Just thirteen minutes into a scheduled hour-long flight, all 189 passengers and crewmembers aboard the aircraft lost their lives. Almost immediately,speculation arose regarding the cause of the accident as well as questions regarding the common occurrence of Indonesian aviation disasters.
Proposed Public Charge Intended for Immigrants but will Impose on Health Care
Every time we turn on the news, someone is either talking about immigration reform or health care reform. Health care and immigration are two major areas that President Trump promised to address and is attempting to tackle within his first two years in office. Although most would not consider that these two issues would overlap, in today’s American health care system, Americans need immigrants. Immigrants contribute a great deal to our medical research, make up a large percentage of our health care providers, and subsidize health insurance premiums.
California to Corporations: No More Male-Only Boards
California Governor Jerry Brown signed a historic bill on September 30 that mandates every publicly held corporation whose principal offices are located in California to have a representative number of women on its board of directors. In a letter announcing Senate Bill 826, Governor Brown admits that there are serious legal concerns to the bill and that its potential flaws could “prove fatal to its ultimate implementation” but that it is time to force action regarding the lack of gender diversity on company boards.
Opportunity Zone Program: Opportunity for Investors or Opportunity for Communities?
With the implementation of the Tax Cuts and Jobs Act that was passed in 2017, there have been several changes to the tax system. The Opportunity Zone program was a small piece of the tax reform that has recently gained more publicity. The Opportunity Zone program provides tax benefits to real-estate investors. The Trump Administration recently released definitions and rules in a package of proposed regulations.
Stemming the Tide of Medical Information Data Breaches
Protected Health Information is seeing a surge of breaches on the cyber security front due to contractor error. It’s also impacting the most consumers in comparison to other data breaches and, in some cases, has the power to cause chaos in national infrastructure. Advances in technology and compliance measures can stem the tide and protect the most valuable information in consumers lives.
The Madness Surrounding Bitcoin, et. al.
Earlier this year, Bitcoin, and cryptocurrencies writ large, occupied many financial headlines as onlookers began to divert their attention to the “unexplained” rise, and subsequent fall in the price of one the more popular (and maiden) cryptocurrencies: Bitcoin. Naturally, because many of the onlookers didn’t realize what Bitcoin was (or is), the media took lead on the story. Earlier this month, Bitcoin began to make its appearance in headlines, once again.