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

Posted on October 18, 2023Categories Environmental

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

Posted on October 13, 2023Categories Finance & 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.
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AI Nancy Drew, Is That You?

Posted on November 1, 2023Categories Healthcare Compliance

The United States spends more money per person on health care than any other country, approximately $4.2 trillion in 2021. Unfortunately, our complex health care system and the large budget make fraud a significant concern for the U.S. Government, payers, and patients. The National Healthcare Anti-Fraud Association estimates that as much as 10% of annual healthcare spending is lost to scams, resulting in billions in losses yearly. To combat healthcare fraud, the Department of Health and Human Services Office of the Inspector General, in collaboration with state law enforcement and other governmental agencies has created special Strike Forces. These efforts have led to substantial recoveries of federal funds and criminal/civil prosecution of individuals or entities involved in Medicare and Medicaid fraud. Besides avoiding unnecessary or fraudulent claims, individual healthcare payers are motivated to prevent fraud due to severe penalties associated with the False Claims Act, Anti-Kickback Statute, Physician Self-Referral Law (Stark Law), and Civil Monetary Penalties Law. How can individual payers detect and try to prevent fraud? The answer is AI.
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The Battle Over the Endangered Species Act: Reversing Trump-era Changes and Protecting Imperiled Wildlife

Posted on November 1, 2023Categories Environmental

On January 20, 2021, his first day in office, President Biden passed Executive Order 13990, directing all executive departments and agencies to “immediately review” existing regulations, orders, policies, etc. that were “promulgated, issued, or adopted” by the previous administration between January 20, 2017 and January 20, 2021 and identify those that are or may be inconsistent with “important national objectives” regarding protecting public health, the environment, and restoring science. The order further directs agency heads to review such policies and consider whether to take any agency actions to fully restore and enforce important national objectives. A key focus of this order was to strengthen and fully enforce the Endangered Species Act, emphasizing the importance of conservation efforts and wildlife protection.

Biden Ties Medicare Reimbursement to Sepsis Treatment

Posted on February 8, 2024Categories Healthcare Compliance

The Centers for Medicare and Medicaid Services (CMS), under the Department of Health and Human Services (HHS), finalized CMS-1785-P in August, a rule that links Medicare reimbursement to the treatment of sepsis. Previously, hospitals were required to report on their sepsis treatment patients, but there was no penalty for not adhering to treatment guidelines. Beginning in Fall 2024, hospitals must meet the specific treatment benchmarks integrated into Medicare’s Hospital Value-Based Purchasing Program (MHVBPP) specifically the provisions outlined in the Severe Sepsis/Septic Shock Management Bundle (SEP-1). Failing to meet these benchmarks could result in significant financial losses for hospitals, ranging from thousands to millions of dollars for larger entities. While hospitals should presently be aware of these requirements and implement plans to meet them, there are concerns about whether the proposed rule is the optimal solution for improving outcomes for sepsis patients.

Regulating AI Used to Predict and Prevent Sports Injuries: A Crucial Need

Posted on February 8, 2024Categories Sports, Artificial Intelligence

The use of Artificial Intelligence (AI) in sports could revolutionize the way athletic injuries are predicted and managed. Notably, a variety of AI companies have developed software that forecasts potential injuries, possibly prolonging athletes’ careers. This technology analyzes data about the biomechanics of players, their frequency of play or training, and past injuries to identify patterns, find potential causes, and predict future injuries. There is immense value in preventing injuries in athletics for players, teams, and fans alike. It would therefore make sense that everyone is eager to utilize the findings of AI, but without regulation this could cause more harm than good.

No “Moore” Realization Events?

Posted on February 8, 2024Categories Uncategorized

In June 2024, the Supreme Court will decide on a case that may completely upend one third of the Internal Revenue Code (IRC). Moore v. United States calls into question whether the 16th Amendment authorizes Congress to tax unrealized gains without apportionment among the states.

U.S. Auditing Watchdog’s Inspections Program Needs Work

Posted on February 8, 2024Categories Uncategorized

The Public Company Accounting Oversight Board (PCAOB) inspects the audits of U.S public companies, and according to former inspectors for the PCAOB the inspection process needs improvement. The SEC and the Sarbanes-Oxley Act empower the PCAOB to establish auditing standards through inspections and compliance reports. The former inspectors criticized the reports produced and call for a wider scope in the process, more details, and for the reports to be released in a timely manner. While the PCAOB is in the middle of a transformation under current PCAOB Chair Erica Williams, the transformation is largely focused on making inspections more efficient. Hopefully, the call to action by former inspectors will result in improved reports by inspectors. For investors, having more context on how the inspection went and being able to review how the PCAOB measures audit quality would allow them to make more informed decisions.

Global Tech Regulation: The Impact of the E.U.’s Digital Markets Act on Big Tech Giants and the Potential Shift in U.S. Policies

Posted on February 7, 2024Categories Uncategorized

Big tech companies in the United States are largely subject to fewer and less restrictive regulations than those found in other parts of the world. The E.U., however, is rapidly becoming one of the most “assertive regulators” of big tech, which consequently affects American companies that participate in the global market, such as Amazon, Apple, and Google. In response to the growing need for stricter antitrust and data privacy laws, the E.U. adopted the Digital Markets Act (“DMA”) in September of 2022. The DMA’s obligations are set to be fully applicable in March of 2024.