Proposed Amendments

News & Analysis as of

Chevron Deference In California

In mid July, the House of Representatives passed the Separation of Powers Restoration Act of 2016, H.R. 4768 (SOPRA). If enacted, the SOPRA would amend the federal Administrative Procedure Act to require a reviewing court to...more

A Primer on EB-5 and Key Issues in its Renewal

What is the EB-5 Immigrant Investor Visa Program? The EB-5 immigrant investment visa program provides a “fast track” to obtain permanent U.S. residency (a “green card”) to qualified foreign investors who satisfy...more

CFPB Proposes Changes to Mortgage Industry

The Consumer Financial Protection Bureau recently issued a proposed rule regarding integrated disclosure for mortgage transactions and, more recently, published a policy paper regarding loss mitigation programs in housing...more

Recycled Water and New Construction. New Standards Being Considered.

The second a series of stockholder meetings will be held on August 30, 2016 in Sacramento, California to consider proposed amendments to the state building code for the installation of recycled water systems for newly...more

Proposed Amendment to NYC Human Rights Law Would Prohibit Discrimination Against Uniformed Service Members and Veterans

An amendment to the New York City Human Rights Law (NYCHRL) introduced before the City Council this week would add current or prior service in the uniformed services as a protected class under the law. If approved by the...more

CFTC Proposal to Amend CPO Reporting Rules

The Commodity Futures Trading Commission (“CFTC”) on August 5, 2016, issued a proposal to amend its rules governing commodity pool annual reports, which, if adopted, would permit commodity pool operators (“CPOs”) of a pool...more

CFPB Finally Adopts Amendments To Its Mortgage Servicing Rules

On August 4, the Bureau of Consumer Financial Protection (“CFPB”) finally adopted amendments (the “Amendments”) to its 2013 mortgage servicing rules (the “Servicing Rules”). The Servicing Rules implemented provisions in the...more

SEC Proposes Amendments to Smaller Reporting Company Definition

The Securities and Exchange Commission (SEC) recently issued proposed amendments to increase the financial thresholds in the definition of a “smaller reporting company” that, if adopted, will increase the number of issuers...more

European Commission Proposes Amended Rules for Margin for Uncleared Swaps 

The European Commission published regulatory technical standards on margin for uncleared swaps and a letter to the European Supervisory Authorities notifying them of the Commission's intention to endorse (with amendments) the...more

Weekly Update Newsletter - August 2016 #2

GOVERNMENT CONTRACTS - Procurement of Commercial Items DOD is proposing to amend the DFARS to implement sections of the National Defense Authorization Acts for Fiscal Years 2013 and 2016 relating to commercial item...more

State Water Board Cleans Up Its Water Quality Enforcement Policy

On August 4, 2016, the California State Water Resources Board (State Water Board) issued a draft rule amending its 2010 Water Quality Enforcement Policy. The proposed amendments are intended to provide additional clarity,...more

European Banking Authority Amends Technical Standards on Benchmarking of Internal Approaches under CRD IV

The European Banking Authority published an amended version of its implementing technical standards on benchmarking of internal approaches under the Capital Requirements Directive IV. The ITS have been amended to assist...more

CARB Releases Final Proposed Amendments to Cap-and-Trade Regulations; Formal Comment Period Commences

The California Air Resources Board’s (CARB) timeline toward amending California’s cap-and-trade regulations progressed with the release of its final proposed amendments and supporting documentation August 2, 2016. Formal...more

CARB Proposed Amendments to Extend the Cap-and-Trade Program Beyond 2020 Overshadow Significant Revisions to the Program Itself

On August 2nd, the California Air Resources Board (CARB) formally released its Proposed Amendments to the California Cap-and-Trade Program. CARB’s proposed amendments are meant to extend the program through 2030 and ensure...more

CFPB Proposes Multiple Changes to TRID “Know Before You Owe” Rule

The Consumer Financial Protection Bureau (“CFPB”) recently issued 293 pages of proposed changes (the “Amendments”) to the federal mortgage disclosure requirements it propounded in October 2015 commonly known as the TILA/RESPA...more

Weekly Update Newsletter - August 2016

SMALL BUSINESS ADMINISTRATION - Small Business Mentor-Protégé Programs - The SBA is amending its regulations to the HUBZone Program. The amendments: (1) authorize Native Hawaiian Organizations (“NHO”) to own...more

SEC Proposes Amendments to Update and Simplify Disclosure Requirements

Overview - The Securities and Exchange Commission (the “SEC”) recently announced proposed amendments in order to update and simplify its disclosure requirements. The proposed amendments are intended to simplify...more

SEC Proposes Amendments to Update and Simplify Disclosure Requirements

On July 13, 2016, the Securities and Exchange Commission (SEC) proposed amendments to its disclosure requirements to eliminate redundant, overlapping, outdated or superseded provisions that have resulted over time due to...more

Proposed changes to REIT guidelines would introduce uniform “concentration” limit in NTR purchases

The North American Securities Administrators Association, Inc. (NASAA) has requested public comment on proposed amendments to its Statement of Policy Regarding Real Estate Investment Trusts (known as the REIT Guidelines). ...more

SEC Proposes Changing Smaller Reporting Company Definition and Streamlining Disclosure Requirements

The Securities and Exchange Commission (SEC) recently released two separate proposals, one that aims to expand “smaller reporting company” eligibility and another that is designed to streamline disclosure requirements....more

Illinois Authorized Electronic Monitoring in Long-Term Care Facilities Act: Proposed Amendments

Effective January 1, 2016, Illinois now permits residents or families of residents in long-term care facilities to install cameras or other electronic monitoring devices (audio and visual) in resident rooms. Illinois'...more

CFPB Releases Proposed Amendments to Truth In Lending Disclosure Rules

Today, the CFPB released its proposed amendments to disclosure requirements under RESPA and TILA. These disclosure requirements are also known as the “Know Before You Owe” rule (the Rule). The amendments propose several...more

SEC Proposes Change to Definition of Smaller Reporting Company

The U.S. Securities and Exchange Commission (the “SEC”) recently proposed changes to expand the number of U.S. public companies that would qualify as a “smaller reporting company” (a “SRC”) and who therefore would be eligible...more

CFPB Releases Amendments to TRID Rule

The CFPB has issued a proposed rule with request for public comment containing both substantive amendments and technical corrections (collectively, Proposed Amendments) to the final TILA-RESPA Integrated Disclosure (TRID)...more

MTC Annual Meeting Update: Market-Sourcing Regulations Presented to Executive Committee

On July 28, the Multistate Tax Commission (“MTC”) held its Executive Committee Meeting. The Executive Committee voted to accept the Uniformity Committee’s recommendations for a taxpayer’s prospective change in its method of...more

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