INSIDE COMPLIANCE – Page 52 – Loyola University Chicago School of Law

President Biden’s COVID-19 Data-Driven Executive Order to Promote Health Equity

February 10, 2021HIPAA & Health Information

President Joe Biden has issued a number of Executive Orders, many of which address the ongoing COVID-19 public health emergency. On January 21, 2021, President Biden released another pillar of his Administration’s long-term plan to direct the United States out of the throes of the pandemic. The twelfth Executive Order titled, “Ensuring a Data-Driven Response to COVID-19 and Future High-Consequence Public Health Threats” orders the Department of Health and Human Services (“HHS”) Secretary Alex Azar to conduct a nationwide review of the interoperability of public health data systems in an effort to enhance the collection, sharing, analysis, and collaboration of de-identified patient data.

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Market Regulation Issues Raised by the Gamestop Buying Frenzy

February 9, 2021Finance & Banking, Fraud & Abuse

The regulation of hedge funds has largely been unchecked allowing big Wall Street players to manipulate the market for the benefit and at the detriment of other investors. But forced by an unprecedented movement of retail investors, Wall Street is being forced to reckon with the hypocrisy of their practices.

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CPS’ Covid Priorities: 1) Punish Teachers and 2) Deny Students a FAPE

February 9, 2021Uncategorized

On November 17, 2020, Chicago Public School (“CPS”) announced that in January 2021, CPS would have its first week of in-person learning since March of 2020. Upon the announcement, CPS parents had mixed reactions to the district’s plan to bring some students back, where some expressed excitement about the positive effect of in-person learning on their kids social and mental health, while others like the Grassroots Education Movement voiced concerns that the district had not done enough to make schools COVID-19 safe.

The return to in-person learning has been controversial and filled with conflict between teachers and the Chicago Teachers Union (“CTU”) versus the district. CTU expressed that it does not trust the district to keep the teachers and students safe, and the CTU released a statement that 71 percent of its teachers voted to continue remote learning instruction. Even with these concerns, CPS made the return by teachers mandatory. During its first week in-person, over 150 educators have been AWOL, having not shown up to school. Since then, the teachers’ protest has only become louder. CPS responded by docking the pay and locking teachers out of their remote learning platforms. Intense debate surrounds the topic, but the underlying legal principle remains, CPS cannot deny students a Free Appropriate Public Education (“FAPE”), guaranteed by the Rehabilitation Act of 1973 and the Individuals with Disabilities Education Act (“IDEA”), while CPS engages in a labor dispute with the CTU.

EducationEmployment

How a Failing Video Game Store Exposed the Fragility of the Market

February 9, 2021Uncategorized

Failing video game company, Gamestop has broken the internet this week, but not for anything that they intended to do. Their stock has been the center of controversy after a group of internet investors banded together to outsmart hedge funds at their own game. By causing a hedge fund to short squeeze their investment in Gamestop offerings, they have brought to light the possible need for regulation in the market.

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The Lack of Support the Payment Protection Program Has Given to Restaurants

February 8, 2021Uncategorized

We are now in the heart of winter, and many restaurants have not made it since Covid first shut-down Chicago in March 2020. When dining resumed in June, it came back as outdoor only. However the fear was, what would happen once it cooled down and outdoor dining wasn’t feasible? Chicago, like many other cities, has had to be creative and many restaurants have made it work. From dining igloos and greenhouses, to shutting down streets for more patio space, Chicago has been very creative. For the restaurants that have managed to survive, it has not been an easy path. The restaurant industry has been hit especially hard compared to other businesses, and they are not receiving the same protections and support as other industries. The Paycheck Protection Program (“PPP”) was designed to support small businesses, however restaurants have not been protected as they should have been.

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Politicizing a Pandemic: Emergency Use Authorizations for COVID-19

February 8, 2021Drugs & Devices

The Food and Drug Administration (“FDA”) is one regulatory agency that has been on the forefront of the American fight against COVID-19. Historically, the agency has been highly respected for its success in apolitical operation despite its mission of (1) protecting the public health and (2) innovating in the development of medical products. One of its most important tools in the face of a public health crisis is the once obscure regulatory mechanism called the Emergency Use Authorization (“EUA”). But as public trust in the FDA falters, Americans are surely wondering how effective a protective measure can be when it seems to be used as political ammo.

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Bitcoin, Tesla, and GameStop: Regulatory Challenges Posed by the New Retail Investor

February 2, 2021Finance & Banking

GameStop started 2021 with a stock price below $20 but saw its stock price skyrocket to well above $300 a share towards the end of January. The rally would be hard to explain by solely relying on the company’s financial reports or underlying fundamentals. Instead, the rally has to be explained through a combination of external factors involving a popular fintech company’s app, manic speculation by retail investors, and Reddit. Although at first glance this may seem like a new phenomenon, the same factors have been at play for years with a huge interest in Tesla and Bitcoin – and they pose a risk to the markets that regulators and Wall Street together can’t ignore.

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Vertical Healthcare Companies Merging Compliance Programs

February 1, 2021Uncategorized

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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Federal Relief of Regulatory Oversight Burdens in Medicaid Final Rule

December 2, 2020Uncategorized

he Centers for Medicare & Medicaid Services (“CMS”) refined the Medicaid and Children’s Health Insurance Program (“CHIP”) Managed Care final rules. CMS originally released the final rules in 2016 and another revision in 2018. After several cumulative comments on 2016 and 2018 final rules, CMS attempted to create more flexibility for States with managed care delivery methods. CMS’s third version of the final rules is more of an attempt to clarify and fix technical errors than giving States more flexibility to operate their managed care organizations.

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Investing in Income Sharing: Why Regulators Should Pay Attention to the Innovative Set Up Now

November 28, 2020Finance & Banking

As of November 8, 2020, the student debt crisis reached $1,769,280,155,524. There’s no easy way to address a $1.7 trillion problem and the increasing cost of higher education, coupled with the necessity of a four-year degree, will only exacerbate the issue. From 2000 to 2016, the average annual cost of college more than doubled, from around $15,000 a year to nearly $32,000. The New York Fed most recently identified a phenomenon acknowledging that when you flood the marketplace with subsidies, like grants, loans, etc., it enables higher education to continue to raise prices. For every dollar of new public subsidy, prices for college have risen between 60 and 70 cents. There are a number of proposals as to how to address this crisis – from federal statutes to private intervention – but income sharing agreements (ISAs) have largely been left out of the conversation. ISAs are not without criticism, particularly because of concerns about excessive interest. However, many of the criticisms could and should be addressed by comprehensive regulation, as any other type of lending has been. ISAs will likely be part of the future solutions of financing education and, as a result, regulators need to pay attention.

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