INSIDE COMPLIANCE – Page 38 – Loyola University Chicago School of Law

The Latest Environmental Regulations and What It Means for the US

November 29, 2021Uncategorized

For the past few weeks, world leaders have been discussing climate action and how to tackle the growing problem at COP26. They recently reached an agreement that pushes countries to strengthen climate targets that can be achieved in the near future and limit fossil fuel use, but they are still facing criticism from scientists who say it is not enough. While they did come up with language urging countries to move away from fossil fuels, there are few concrete goals written leaving it largely up to the countries themselves to decide how to meet those goals.

climateclimate actionemissionsEnergyenvironmental regulationenvironmental regulationsfossil fuels

Robinhood Can’t Seem to Keep User Data Safe: Data Breach Exposes the Personal Data of Millions of Users

November 24, 2021Uncategorized

On November 3, 2021, Robinhood Markets Inc., a popular online stock trading app, reported that an intruder gained access to its systems, obtaining the personal information of millions of its users. With its sudden rise to popularity and contempt following the GameStop stock volatility, and an ongoing class action lawsuit concerning a previous breach, Robinhood is in hot water with both customers and regulatory agencies alike.

Journal of Regulatory CompliancePrivacy & Security

Data’s Dirty Little Secret – The Under Scrutinized Environmental Impact of Data Storage

November 23, 2021Uncategorized

When you think about what things harm the environment, your mind likely goes to gas-guzzling cars, single-use plastics, and cow farts. But when you’re considering your carbon footprint, the environmental impact of data storage is likely something you’ve left out. While the shows we stream, documents we download, and pictures we upload to social media may not take up storage space on our devices, the data must be stored somewhere, and that storage does not come without a cost.

data centersEnergyEnvironmental Lawenvironmental regulationTechnology and the Law

Industries Deserve Consistent Apprenticeship Rules and Regulations

November 22, 2021Uncategorized

November 15, 2021, marked the beginning of the seventh annual National Apprenticeship week. That same day, the United States Department of Labor (DOL) published a proposal to rescind its regulation and recently established framework regarding Standards Recognition Entities (SREs) of Industry Recognized Apprenticeship Programs (IRAPs). To succeed, industries offering apprenticeships need consistent rules and regulations that do not change at the whim of the executive branch. Passing the National Apprenticeship Act of 2021 (Act) is one way that Congress can support established registered apprenticeship programs.

ApprenticeshipsDepartment of LaborEmploymentJournal of Regulatory ComplianceNational Apprenticeship Act

A Progressive Move for New York’s Office of Cannabis Management

November 19, 2021Uncategorized

Earlier this month Tremaine Wright, the woman in charge of New York’s cannabis regulation revealed a plan to promote social equity through conscientious licensing and tax revenue policies. New York legalized cannabis recently, so its regulations for it are still in a fledgling stage. As a result, the policies being made now will shape the cannabis industry for years to come.

cannabisJournal of Regulatory Compliancelicensemarijuananew yorkrecreational marijuanaRegulationSocially Conscious

Fly Me (Safely) to the Moon: Regulating Commercial Space Travel

November 18, 2021Uncategorized

The recent successful trips to the edge of space by Jeff Bezos and Richard Branson are predicted to boost consumer confidence in the possibility of using commercial spaceflight as a global transportation system. However, as interest and involvement in commercial spaceflight grows, safety regulations are failing to keep up. The Federal Aviation Authority (FAA) has the authority to regulate spaceflight, but there is currently a moratorium on regulating the industry until 2023 to encourage innovation.

Blue Origincommercial spaceflightElon MuskFAAJeff BezosRegulationRichard Bransonspace travelspaceflightSpaceXTransportationVirgin Galactic

The Free Britney Movement and the Call for Conservatorship Reform

November 16, 2021Fraud & Abuse

Britney Spears: global pop superstar, Grammy award winner, songwriter, dancer, and … the face of the conservatorship reform movement? Ms. Spears can add a new line onto her prolific resume, as legal issues stemming from her decade-plus long conservatorship have shed a light on conservatorship abuse. Britney has subsequently fueled the push to reform conservatorship regulations that affect over an estimated 1.3 million adults in the United States.

#britney #britneyspears#conservator#conservatorship#estates#freebritney#guardianshipcomplianceJournal of Regulatory Compliance

Treasury’s Proposal Aimed at Limiting Tax Evasion by The Wealthy, May End Up Harming Everyone Else

November 16, 2021Finance & Banking

In May of 2021, the United States Department of Treasury (“Treasury”) introduced its revenue proposals for the 2022 fiscal year. One of the proposals that garnered significant attention was the Comprehensive Financial Account Reporting to Improve Tax Compliance; under this proposal, financial institutions will be required to report to the Treasury the total amount of inflow and outflow on bank, loan, and investment accounts for accounts that hold at least $600 a year. Since its introduction and after serious political push-back, this amount has since been increased to accounts that hold at least $10,000 a year.

If the reporting requirement is implemented, the Biden Administration proposes to raise the Internal Revenue Service (“IRS”) funding by $80 billion to finance the cost of additional auditors and equipment. However, the Biden Administration, with the proposal’s implementation, expects a payoff of $460 billion over ten years in additional revenue. Although this proposal is intended at limiting wealth tax evasion, this proposal misses the mark. Specifically, it does not adequately address businesses that are able to cheat tax codes by stretching the current law, and instead scrutinizes small businesses and individuals while it exponentially increases the personal data held by the Treasury.

Journal of Regulatory Compliancetax

House Moves to Bolster Supply Chain and Network Security

November 15, 2021Fraud & Abuse

On October 20, the House of Representatives passed several bills directed at the Department of Homeland Security (“DHS”) and the Department of Commerce (“DOC”) that may impact network security compliance measures affecting U.S. businesses. These bills take aim at much of the software and network technology used by companies within the supply chain to ensure that security is not dismissed in the effort to cut costs and to maintain healthy competition between network communication equipment vendors.

5gcomplianceDepartment of CommerceDepartment of Homeland SecurityPrivacy & Securitysupply chain

The Rule 10b5-1 Plan: How Executives Unload Stock Without Fear of Insider Trading Accusations

November 15, 2021Finance & Banking, Fraud & Abuse

Many of the most valuable companies in the world today began as small start-ups owned by a few visionary entrepreneurs. As those companies become increasingly valuable, so does the stock held by those founders. It is no secret that much of the wealth amassed by the richest people on the planet is tied up in the stock of their companies. When CEOs and other executives sell a large portion of their incredibly valuable stock, how do they avoid accusations of insider trading? The answer: they implement a Rule 10b5-1 plan.

executivesRule 10b5-1SECstocks