PublicationsInsights on Current Policy Issues

  • May 16, 2017

    By Frank Vlossak

    On May 8, 2017, the Office of Management and Budget (OMB) issued a memorandum titled “Guidance for Section 2 of Executive Order 13783, titled ‘Promoting Energy Independence and Economic Growth’”. E.O. 13783 directs federal agencies to review, and potentially suspend, revise or repeal, existing regulations that “burden domestic energy production.”

     

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  • April 19, 2017

    By Frank Vlossak

    On April 13, the Environmental Protection Agency (EPA) published a notice in the Federal Register soliciting public comments “on regulations that may be appropriate for repeal, replacement, or modification.” The notice is part of the EPA’s efforts to implement the Executive Order titled “Enforcing the Regulatory Reform Agenda” (E.O. 13777), which was signed by President Trump on February 24, 2017. The deadline for submitting public comments is May 15, 2017. EPA offices will also be conducting public forums on regulatory reform over the next four weeks. The Executive Order establishes mechanisms intended to reduce regulations, including by implementing the President’s January 30, 2017 Executive Order (E.O. 13771) which calls for agencies to eliminate two regulations for each new regulation they promulgate.

     

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  • April 12, 2017

    By Frank Vlossak

    Congress enacted the “Congressional Review Act” (CRA) as part of the “Contract with America Advancement Act” (P.L. 104-121) in 1996 and it is codified at 5 U.S.C. 801-808. The CRA established an expedited process for Congress to repeal recently promulgated regulations through passage of joint resolutions signed into law by the President. As of April 7, the President has signed eleven CRA resolutions into law. The House and Senate have passed two more, which the President is expected to sign. Activity on CRA resolutions will begin to wind down as the statutory cut-off for action on resolutions to repeal final rules issued during the 114th Congress is expected to occur no later than early May.

     

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W&J Publications

Insights on Current Policy Issues

Historically, state and local governmental pension plans did not attract much attention in our nation's capital. Certainly, they did in the 50 state capitals, but for Washington, D.C., the issues were few and far between. We liked it that way. Today, state and local pension plans are of increasing interest to federal policymakers, both in Congress and the Executive Branch. This is so much the case that I have to use a disclaimer right now – the overview and list of issues discussed in this article are not exhaustive. The issues break generally into two categories – regulatory and legislative – with some overlap. On the regulatory front, I will talk about conversions to Roth accounts, normal retirement age, the definitions of governmental plan and municipal advisor, and the pick up rules. By Tony Roda.

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Since 2008, an industry group called "NetCoalition", which is a collection of internet companies and other companies such as Bloomberg and trade groups such as the Securities Industry and Financial Markets Association (SIFMA), have challenged the Securities and Exchange Commission's (SEC) policy on market data fees in court over policies that institutionalize market data as an exchange product. This coalition received a favorable outcome from the D.C. Circuit Court of Appeals in 2010. In an April 2013 decision on this issue, the D.C. Circuit Court of Appeals directed the SEC to consider fee complaints under a "denial of access" process. As such, SIFMA filed two such petitions with the SEC in May 2013. These challenges over market data fees are far from over. With $400 million in market data fees at stake, the issue is closely being watched by industry in view of its impact on market structure issues. By David E. Franasiak, Joel Oswald and Eric Robins.

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The EPA has extended the deadline for submissions on its study on hydraulic fracturing and drinking water resources. House and Senate committees will focus on natural gas issues in May. By Frank Vlossak.

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The Regulatory Landscape - Recent Regulatory Actions and Proposals Affecting the Exchanges and Capital Markets and the Issues Raised. This document was prepared by David E. Franasiak.

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On March 4, President Obama nominated Ernest Moniz to be Secretary of Energy and Gina McCarthy to be Administrator of the Environmental Protection Agency (EPA).

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On February 12, the Obama Administration released its long anticipated cybersecurity Executive Order (EO) along with a Presidential Policy Directive (PPD.) This memorandum will sketch the scope, timing, and unknowns of the EO and PPD as they relate to the financial services industry writ large.  David E. Franasiak, Joel G. Oswald and Michael D. Kans assisted in the preparation of this memorandum.

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The Department of Interior has announced that it will redraft proposed regulations addressing hydraulic fracturing on public lands, while the Environmental Protection Agency (EPA) submitted a court filing that indicates it could adjust its 2012 Clean Air Act regulations targeting the oil and gas sector.

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In 2006, 23 Republican Senators joined one Independent and 38 Democrats in voting to approve sweeping immigration reform legislation that would have included a pathway to citizenship for the 11-12 million illegal immigrants living in the United States. Republican President George W. Bush issued a statement praising the Senate for its action. Ultimately, however, the legislative effort faltered when the House took no further action on the issueOn Friday, December 21, the Environmental Protection Agency (EPA) released a "Progress Report" on its study of the impact of hydraulic fracturing on drinking water resources. Congress, through the conference report for the "Department of the Interior, Environment and Related Agencies Appropriations Act, 2010" (H.Rept. 111-316, P.L. 111-88) requested that the EPA conduct a study on hydraulic fracturing.

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On Friday, December 21, the Environmental Protection Agency (EPA) released a "Progress Report" on its study of the impact of hydraulic fracturing on drinking water resources. Congress, through the conference report for the "Department of the Interior, Environment and Related Agencies Appropriations Act, 2010" (H.Rept. 111-316, P.L. 111-88) requested that the EPA conduct a study on hydraulic fracturing.

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Following the November elections, attention is returning to a series of pending federal regulatory initiatives targeting hydraulic fracturing and oil and natural gas drilling and production.

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PublicationsInsights on Current Policy Issues

  • May 16, 2017

    By Frank Vlossak

    On May 8, 2017, the Office of Management and Budget (OMB) issued a memorandum titled “Guidance for Section 2 of Executive Order 13783, titled ‘Promoting Energy Independence and Economic Growth’”. E.O. 13783 directs federal agencies to review, and potentially suspend, revise or repeal, existing regulations that “burden domestic energy production.”

     

    Read...

    Read More
  • April 19, 2017

    By Frank Vlossak

    On April 13, the Environmental Protection Agency (EPA) published a notice in the Federal Register soliciting public comments “on regulations that may be appropriate for repeal, replacement, or modification.” The notice is part of the EPA’s efforts to implement the Executive Order titled “Enforcing the Regulatory Reform Agenda” (E.O. 13777), which was signed by President Trump on February 24, 2017. The deadline for submitting public comments is May 15, 2017. EPA offices will also be conducting public forums on regulatory reform over the next four weeks. The Executive Order establishes mechanisms intended to reduce regulations, including by implementing the President’s January 30, 2017 Executive Order (E.O. 13771) which calls for agencies to eliminate two regulations for each new regulation they promulgate.

     

    Read...

    Read More
  • April 12, 2017

    By Frank Vlossak

    Congress enacted the “Congressional Review Act” (CRA) as part of the “Contract with America Advancement Act” (P.L. 104-121) in 1996 and it is codified at 5 U.S.C. 801-808. The CRA established an expedited process for Congress to repeal recently promulgated regulations through passage of joint resolutions signed into law by the President. As of April 7, the President has signed eleven CRA resolutions into law. The House and Senate have passed two more, which the President is expected to sign. Activity on CRA resolutions will begin to wind down as the statutory cut-off for action on resolutions to repeal final rules issued during the 114th Congress is expected to occur no later than early May.

     

    Read...

    Read More

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