Proposed Amendments

News & Analysis as of

Consumer Financial Protection Bureau: The Consumer Financial Protection Bureau's new "Know Before You Owe" Mortgage Disclosure...

The Consumer Financial Protection Bureau (“CFPB”) recently issued or perhaps had to issue a proposed amendment to the “Know Before You Owe mortgage disclosure rule,” also known as the “TILA-RESPA Integrated Disclosure” rule,...more

Changes on the Horizon for EB-5 Immigrant Investor Visa Program

The Obama Administration released a report on July 15 titled “Modernizing & Streamlining our Immigration Legal System for the 21st Century.” The Report, which builds upon the President’s executive action on immigration...more

Cybersecurity is once again a hot topic as Illinois undergoes PIPA update

Cybersecurity is a hot topic at both the state and federal level. Specifically, Illinois is in the process of amending its Personal Information Protection Act (“PIPA”). Illinois SB 1833 will amend PIPA by establishing more...more

Here We Go Again—The Robert C. Byrd Mine Safety Protection Act

For the fourth time since the Upper Big Branch coal mine explosion in April 2010, a Congressional bill proposes to further amend the Federal Mine Safety and Health Act of 1977. The Robert C. Byrd Mine Safety Protection Act...more

DHS Proposes Changes to E-Verify Program: I-9 Revirifications and FNC Formal Reviews

As employers continue to enroll in the E-Verify program at a high rate, the United States Department of Homeland Security (DHS) is considering various changes to this key program. Some of these changes place additional...more

China Proposes Draft Privacy Legislation with Significant Potential Implications

On July 6, 2015, China’s legislature, the National People’s Congress (NPC), circulated for comment two pieces of draft legislation with significant potential implications for data privacy and data security in China. Comments...more

Weekly Update Newsletter - July 2015 #2

GOVERNMENT CONTRACTS - Contractor Past Performance Assessment Report–3rd Quarter Fiscal Year 2015 - The Office of Federal Procurement Policy (OFPP) issued the contractor past performance assessment reporting for the...more

CFPB Postpones “Know Before You Owe” Mortgage Rule Until October 3

On June 24, the Consumer Financial Protection Bureau (CFPB) issued a proposed amendment to the “Know Before You Owe” mortgage disclosure rule, which proposes to move the rule’s effective date to October 3. The rule, also...more

Corporate antitrust compliance systems – changes initiated by FAS Russia

On July 8, 2015, the Presidium of the Federal Antimonopoly Service of Russia (FAS Russia) provisionally approved the idea of changes to the RF Law on Protection of Competition that would introduce the concept of a “system of...more

CFTC Requests Public Comment on Rule Amendment Certification Filing by Ice Futures

The Commodity Futures Trading Commission is requesting public comment on a certification of proposed rule amendments that were filed by ICE Futures U.S. Inc. Under the amendments, ICE Futures would base position limits...more

FINRA Proposes Changes to the Reporting Requirements for TRACE-Eligible Securities

On July 2, the Financial Industry Regulatory Authority proposed to amend FINRA Rule 6730 (Transaction Reporting) to require member firms to report transactions in eligible securities that are subject to dissemination to the...more

FINRA Requests Comment on Revised Discretionary Accounts and Transactions Rule

The Financial Industry Regulatory Authority is requesting comment on a revised proposal to consolidate and clarify certain National Association of Securities Dealers (NASD) and New York Stock Exchange rules into new FINRA...more

IRS Changes Rules on Lump Sum Window Programs

The Internal Revenue Service (IRS) has surprisingly issued a notice of its intention to amend the required minimum distribution (RMD) regulations under the Internal Revenue Code (Code) to limit the use of lump sum payments to...more

House Dems Tun Argument Lost by Senate Republicans into Win at the End

Here’s one way to think of the controversy over how the state should fund an increase in the Earned Income Tax Credit (“tax credit”), a benefit for low-income working families: the Minority Republican Leader of the...more

Changes to the “Two-Midnight Rule” on the Horizon

On July 1, CMS published proposed changes to the so-called “Two-Midnight Rule,” which currently governs when inpatient hospital admissions are entitled to Medicare Part A payment. The proposed changes were announced in a...more

Unfair Contract Terms Regime to Protect Small Business

On 24 June 2015, the Federal Minister for Small Business, the Hon Bruce Billson MP, introduced the Treasury Legislation Amendment (Small Business and Unfair Contract Terms) Bill 2015 (Bill) into Parliament which will extend...more

Australian Tax Alert: Investment Manager Regime (IMR) – Bill To Implement Element 3 Is Now Law

Tax and Superannuation Laws Amendment (2015 Measures No. 1) Bill 2015 (the Bill), containing the third element of the IMR, has been passed by the Australian Parliament and received Royal Assent on Thursday 25 June 2015. This...more

U.S. House Appropriations Committee Approves Amendment to Delay CFPB Arbitration Rule

On June 17, the U.S. House Appropriations Committee approved an amendment that would require the CFPB to conduct a peer-reviewed cost-benefit analysis of the use of arbitration agreements prior to issuing a final rule....more

SEC Proposes Amendments to Form ADV and Investment Advisers Act Rules

On May 20, 2015, the Securities and Exchange Commission (“SEC”) issued a release proposing amendments to Form ADV and to certain rules under the Investment Advisers Act of 1940 (the “Advisers Act”). The proposed amendments...more

Health Canada Pushes Forward with Nutrition Labelling Changes

On June 13, 2015, the Government of Canada published proposed amendments to the Food and Drug Regulations (FDR) that, if adopted, would significantly change key elements of the nutrition labelling of food products. The most...more

Thirteen Years of the Same Rules and Now Big Proposed Changes to the Regulation of Medicaid Managed Care Plans

On May 25, 2015, the Centers for Medicare and Medicaid Services (“CMS”) published a newly proposed rule that would change the way the agency regulates Medicaid managed care plans, the first regulation of its kind since 2002. ...more

FDIC Proposes New Premium Assessment System for Small Banks

On June 16, the Federal Deposit Insurance Corporation (FDIC) released a proposal to amend 12 CFR part 327 to refine the deposit insurance assessment system for small banks that have been federally insured for at least five...more

TSCA Reform: House Scheduled to Vote on TSCA Modernization Act

The House is scheduled to vote late today, June 23, 2015 (around 6:30 p.m. or 7:00 p.m.), on the TSCA Modernization Act of 2015 (H.R. 2576). The House Committee on Energy and Commerce issued a press release on June 22, 2015,...more

Catching-Up On House Judiciary Committee’s Revised Innovation Act

Recently the House Judiciary Committee voted 24-8 to approve a revised version of the Innovation Act. As we previously discussed, the Innovation Act was re-introduced in the House earlier this year in the same form approved...more

FTC Follows in CFPB Footsteps with GLBA Privacy Notices

The Federal Trade Commission (FTC) recently proposed amendments to its Gramm-Leach-Bliley Act (GLBA) rules requiring motor vehicle dealers to send their customers an annual privacy notice. The amendments would allow motor...more

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