PublicationsInsights on Current Policy Issues

  • October 10, 2017

    By Frank Vlossak

    On October 10, Environmental Protection Agency (EPA) Administrator Scott Pruitt signed a Notice of Proposed Rulemaking (NPRM) titled “Repeal of Carbon Pollution Emission Guidelines for Existing Stationary Sources: Electric Generating Units”. The NPRM would rescind the Obama Administration’s Clean Power Plan (CPP), a rule that would reduce greenhouse gas (GHG) emissions from existing power generation sector sources, namely coal and natural gas power plants.

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  • 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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W&J Publications

Insights on Current Policy Issues

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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Proponents of the Financial Transactions Tax (FTT) argue that the average investor in individual stocks will not feel the impact of this kind of tax because such a small tax on a securities transaction is almost nothing for an individual investor. Proponents also argue that an FTT tax has the potential to raise billions in revenue, which they say could decrease market volatility by stabilizing market prices and eliminating the adverse effects felt by the market due to high frequency trading. This document was prepared by Tess K. Illos, Eric I. Robins, David E. Franasiak and Joel G. Oswald.

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Presidential transitions in which one party takes over from the other can trigger regulatory activity in both the outgoing and incoming administrations, designed to further each President's policy priorities. New Presidents have few simple options for rescinding regulations that were finalized by outgoing administrations. While the Congressional Review Act allows for review and repeal of regulations, the successful use of this process requires cooperation by the legislative and executive branches, and action must be taken within the statutory deadlines. This document was prepared by Jessica Hoppe and Frank Vlossak.

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On January 25, 2012 the European Commission proposed comprehensive changes to the EU's 1995 data protection rules to strengthen online privacy rights. The proposal is a response to growing technological changes and the fact that the 27 EU Member States all implemented the 1995 data protection rules differently, resulting in divergences in enforcement. This document was prepared by Rebecca L. Konst and David E. Franasiak.

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Financial transaction taxes (FTTs) refers to a group of taxes imposed on taxable financial transactions, such as buying or selling securities or currency, with an objective to discourage excessive speculation. The tax was first initiated in the U.K. as a form of stamp duty on the London Stock Exchange. The tax came to the U.S. in 1936, as a revenue raising mechanism during the Great Depression. During that time, a British economist named John Maynard Keynes, proposed levying a form of this tax on Wall Street transactions, because he believed that the tax would curtail financial traders from continuing to employ excessive speculation and consequently increasing market volatility. Thereafter, James Tobin, an American economist developed the idea of a currency transaction tax, now deemed the "Tobin Tax." A Tobin Tax is a tax on spot conversions and is intended to place a penalty on short term currency exchange transactions.  This document was created by Tess K. Illos with contributions from Joel G. Oswald, Rebecca L. Konst, Eric I. Robins and David E. Franasiak.

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On April 25, 2012, House Financial Services Committee Chairman Spencer Bachus (R-AL) and Representative Carolyn McCarthy (D-NY) introduced the Investment Adviser Oversight Act of 2012 (IAOA). The IAOA (H.R. 4624) is intended to provide for more frequent examinations of retail investment advisers. Joel G. Oswald, Daisy A. Tomaselli, Eric I. Robins and David E. Franasiak assisted in the preparation of this document.

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On April 19, Williams & Jensen Principal David Franasiak gave a presentation on "The American Energy Renaissance". Frank Vlossak assisted in the preparation of this presentation.

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On March 25, Williams & Jensen Principal David Franasiak spoke before the meeting of the International Stock Exchange Executives Emeriti on "The Regulatory Landscape – Current Regulatory Proposals and the Issues Raised". Joel Oswald, Eric Robins and Rebecca Konst assisted in the preparation of this presentation.

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Unlike last year, when the Securities and Exchange Commission ("SEC", "Agency", "Commission") regularly held open meetings as it has moved through rulemakings implementing its requirements under the Dodd-Frank Act, addressed shortcomings that lead to the 2010 Flash Crash, or modernized the securities laws to keep up with the changing marketplace, this year has been different. Well, so far..

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Report on the budget sequestration process triggered by the Joint Select Committee on Deficit Reduction's failure to agree on legislation that would reduce the deficit by the November 23rd deadline, prepared by Denis Dwyer and Michael Kans.

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PublicationsInsights on Current Policy Issues

  • October 10, 2017

    By Frank Vlossak

    On October 10, Environmental Protection Agency (EPA) Administrator Scott Pruitt signed a Notice of Proposed Rulemaking (NPRM) titled “Repeal of Carbon Pollution Emission Guidelines for Existing Stationary Sources: Electric Generating Units”. The NPRM would rescind the Obama Administration’s Clean Power Plan (CPP), a rule that would reduce greenhouse gas (GHG) emissions from existing power generation sector sources, namely coal and natural gas power plants.

    Read...

    Read More
  • 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

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