Proposed Regulation

News & Analysis as of

Just In Time for the Holidays: More Security Requirements From NIST

National Institute of Standards and Technology (NIST) has published draft recommendations aimed at securing the confidentiality of sensitive federal information located within non-federal entities’ information technology...more

The Myth of the Regulatory Gap: BLM’s Proposed Hydraulic Fracturing Rule Compared to Existing State Law

For the better part of the last decade, oil and natural gas production from domestic wells has increased steadily. Technical advancements in identifying promising sources of oil and gas and extracting hydrocarbons from...more

Financial Services Weekly News Roundup - November 2014 #3

FINRA Requests Comment on Proposed “Pay-to-Play” Rule - FINRA issued Regulatory Notice 14-50 requesting comment on proposed “pay-to-play” and related rules that would regulate in a manner similar to Rule 206(4)-5 under...more

CFPB Proposes to Treat Prepaid Cards Like Checking Accounts and Credit Cards

The CFPB yesterday proposed a new rule that would regulate prepaid accounts. The rule, which is 870 pages long, would apply not only to plastic prepaid cards, but also to some mobile and electronic prepaid accounts not...more

CFPB Issues Broader Than Expected Prepaid Card Proposal and Model Forms

On November 13, the Consumer Financial Protection Bureau (CFPB) issued its long-awaited proposal with respect to prepaid cards. This proposal, which consisted of 870 pages, covers traditional prepaid cards as well as mobile...more

HRSA Abandons Plans for “Mega-Rule” for 340B Drug Pricing Program

Based on a notice posted on its Office of Pharmacy Affairs (OPA) website, the Health Resources and Services Administration (HRSA) intends to issue in 2015 proposed guidance addressing key policy issues raised by the various...more

The 340B Mega-Reg is Dead

With all due credit to the Coroner from the Wizard of Oz, like the Wicked Witch of the East crushed by Dorothy’s house, the 340B Drug Discount Program mega-reg is “not only merely dead, it’s really most sincerely dead.” And...more

HHS Withdraws Proposed 340B Drug Pricing Program "Mega Regs": Further Guidance Forthcoming

The Department of Health and Human Services (HHS) has withdrawn its greatly anticipated 340B Drug Pricing Program (340B Program) proposed regulations. The proposed regulations, nicknamed the 340B Program “Mega-Regs,” had been...more

Proposed Mega Rule Abandoned Under the 340B program

In very broad terms, the 340B program allows some safety-net health care providers to provide qualifying patients with affordable prescription drugs. In January, the Office of Pharmacy Affairs (OPA) of the Health Resources...more

Non-Direct Auto Lending: Is the CFPB Asserting Jurisdiction over the Capital Markets?

The capital markets should look closely at the proposed rule of the Consumer Financial Protection Bureau (the “CFPB”) to supervise certain larger non-bank automobile finance companies because of the CFPB’s assertion of broad...more

Prudential Regulators and CFTC Re-Propose Margin Requirement Rules for Uncleared Swaps

The Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Farm Credit Administration, and the Federal Housing Finance Agency...more

Pierce Atwood Environmental Regulatory Compliance Calendar (RCC)

NEW REGULATORY DEVELOPMENTS - Federal - - Definition of “Waters of the United States” Under the Clean Water Act, 33 C.F.R. Part 328 - - In connection with its proposed rule regarding the definition of...more

Sweeping Prepaid Card Proposal Issued by CFPB

Today, the Consumer Financial Protection Bureau (“CFPB”) issued its long-awaited proposed rule to further regulate prepaid card products (the “Proposed Rule”). The Proposed Rule was the topic of discussion at a field hearing...more

CFPB Proposes Sweeping Changes for Prepaid Cards

The Consumer Financial Protection Bureau has issued an 870-page proposal for prepaid cards (including 156 pages of actual proposed rules) that mandates new disclosures, error resolution procedures, consumer liability limits...more

CFPB Proposed Prepaid Account Rule

On November 13, 2014 the Consumer Financial Protection Bureau issued its long-awaited proposed rule on prepaid products. The rules would apply broadly to any “prepaid account,” whether in the form of a card, code or other...more

CFTC Proposes to Amend Recordkeeping Requirements

The Commodity Futures Trading Commission has proposed to amend the recordkeeping requirements set forth in CFTC Regulation 1.35(a). The proposed amendments to CFTC Regulation 1.35(a) would clarify that records must be...more

Bridging the Week - November 2014 #2

CFTC Proposes a Cornucopia of Measures to Avoid Unintended Consequences - At a public hearing on November 3, the Commodity Futures Trading Commission proposed three measures intended to avoid unintended consequences...more

CFPB Proposes Policy on No-Action Letters

On October 16th the CFPB published for comment in the Federal Register a proposed new policy to formalize a process for issuing “no-action” letters for innovative financial products and services. The new process would allow...more

Questions about EPA regulation of power plant carbon emissions

This week the U.S. Environmental Protection Agency issued a public notice relating to its Clean Power Plan, the agency's proposed rule to reduce carbon emissions from the nation's existing power plants. The notice reiterates...more

Science Advisory Board Finally Weighs In on Waters of the U.S.

The Science Advisory Board has at last released its peer review of EPA’s draft report on Connectivity of Streams and Wetlands to Downstream Waters: A Review and Synthesis, the technical support for the proposed rule on...more

Orrick's Derivatives in Review - October 2014

Prudential Regulators and CFTC Re-Propose Rules for Uncleared Swap Margin - Both the Commodity Futures Trading Commission and the prudential regulators re-proposed their April 2011 proposed rules imposing initial and...more

Financial Services Weekly News Roundup - October 2014 #5

In this issue: - In preliminarily denying two exemption requests, the SEC takes a stand for market transparency in ETFs and upholds the arbitrage mechanism that allows market prices to closely track NAVs. -...more

Texas Adopts Intrastate Crowdfunding Exemption

On October 22, 2014, the Texas State Securities Board (the "TSSB") voted to formally adopt its proposed Rule 139.25, which provides an exemption from registration for intrastate securities offerings employing a limited...more

CMS Withdraws Medicare Secondary Payer Proposed Rule

The Office of Management and Budget (OMB) has withdrawn an Advanced Notice of Proposed Rulemaking (ANPRM) in which CMS planned to address how Medicare’s interest should be protected in situations where future medical costs...more

FINRA Proposes Rule Strengthening Background Checks

Last month, the Financial Industry Regulatory Authority (FINRA) issued a proposed rule requiring member firms to strengthen their background investigations of applicants seeking registration. The proposed rule adopts,...more

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