Jason Velligan Associate Editor Loyola University School of Law, JD 2024 Regulatory and legal professionals who understand and work to influence government agency rulemaking are most likely familiar with the Chevron deference. The statute gives an agency the authority or power to engage in rulemaking by issuing regulations. Rule and regulation are often used interchangeably …
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.
Economist Michael Mandel analogized regulations to pebbles in a stream. If you drop one pebble into a stream, its individual effect is negligible. If you deposit a thousand pebbles into a stream, the flow of the water slows down. On the other hand, if you pour one hundred thousand pebbles into a stream, the stream’s flow can become blocked altogether. Researchers note that the amount of regulation in the U.S., both at the state and federal level, has grown steadily over the years. It is a process known as regulatory accumulation. Whether it involves regulating the fuel efficiency of cars, labels on food products or the number of beds permitted in a hospital, new rules are added every year. Yet, few, if any, regulations are ever taken off the books despite the fact that many become unnecessary or virtually obsolete. Some economists argue that overregulation has the effect of slowing economic growth and ultimately impacting the well-being of society. But the task is a difficult one: how does a government identify which regulations should be cut and who should lead the effort?
Anna Delvey, the alleged scammer who attempted to obtain financial backing of anywhere from $22 million to $40 million in loans, is once again the subject of much debate due to the new Netflix series chronicling her alleged crimes and other actions. The question this article attempts to answer is whether she ever had a chance of realizing her goal of creating an exclusive, members-only, art club much like Soho House. This question hinges on whether she ever had a real chance to secure the funding to make it possible.
On November 5, 2021, Travis Scott performed a concert at the Astroworld Festival in Austin to a crowd of fifty thousand people. In the hour that he performed, eight people were killed in a deadly crowd crush (another concert goer losing their life days after), and hundreds were injured. Multiple lawsuits have been filed against Travis Scott himself, as well as the production companies that organized the show in response to the tragedy. In the wake of the devastating event, regulations concerning crowd control and management must also be considered, as well as whether these regulations were complied with by the organizers of Astroworld.
The recent Pandora Papers leak in October 2021 shined the light on the massive and intricate web of offshore accounting that allows for insurmountable amounts of wealth to be hidden throughout the world. One of the most shocking revelations of these Papers was how heavily the United States was implicated in creating and perpetuating this system. As such, legislators have been pressured to find a way to crackdown on this sort of offshore money. One way that they have proposed addressing the problem is by amending the United States’ current criminal financial legislation, the Bank Secrecy Act.
Following President Biden’s announcement mandating vaccinations for companies with over one hundred employees, major professional sports leagues may be required to ensure compliance with the mandate. This mandate has the potential to have sweeping implications throughout professional sports, from the athletes, to staff and even spectators. The NFL, NBA, and MLB all have high vaccination rates among their players and the staff that works closely with them, since many teams have already mandated that players and those working in “close proximity” to them be vaccinated. However, their back-office staff are less protected, as those employees have yet to be subjected to strict protocols of the rest of the leagues. Despite these high vaccination rates among athletes and certain staff members, the leagues have been reluctant to institute absolute mandates. But that doesn’t mean that athletes don’t still have a responsibility not only to get vaccinated but also encourage others to do so as well.
As the United States continues to grapple with the effects of the coronavirus epidemic, the U.S. Department of Health and Human Services (“HHS”) announced new rules extending compliance dates and timeframes under the Cures Act. The agency’s new rules—most of which take effect on Dec. 4, 2020—are aimed at giving IT developers and health care providers flexibility in responding to the coronavirus pandemic.
The Centers for Medicare & Medicaid Services (“CMS”) Innovation Center (“CMMI”) recently announced a new model for health care providers in rural areas to receive payment from the federal government. The Community Health Access and Rural Transformation (“CHART”) initiative aims to improve rural health care while promoting the Trump Administration’s push to shift health care providers into a more expansive value-based payment model.
The Centers for Medicare & Medicaid Services (“CMS”) released new guidance for skilled nursing facilities (“SNFs”) as part of a larger rulemaking agenda for healthcare institutions in the throes of the current public health emergency with COVID-19. CMS has also detailed the fines for non-compliance with the new COVID-19 requirements for SNFs and other healthcare institutions such as hospitals and laboratories.