How do independent regulatory agencys influence the us government

Share to Twitter Share to Linkedin To be viable as a place to live and do business, the metaverse will need real-world controls to protect users from abuse, fraud and loss. Regulation takes time, and is difficult to apply globally. But the builders of the metaverse can take proactive steps to create their own metacode of conduct. The sci-fi buff in me is drawn to the idea of visiting a futuristic virtual world, where we can experience a new type of reality. But the metaverse is no longer science fiction – and the responsible adult in me can’t help but consider the threats it could pose, both to individual consumers and businesses. If the metaverse is to be truly viable, regulators and the architects of these virtual spaces should be working now to ensure the safety of its users. Transactional risks in the metaverse It takes time for regulation to catch up with technological innovation, which means that currently, there is a lack of supervision over … [Read more...] about Regulating The Metaverse: Can We Govern The Ungovernable?

- A + A BENGALURU (May 20): Crown Resorts Ltd's shareholders approved a US$6.3 billion buyout by Blackstone Inc on Friday, but the deal faces further delays as it awaits nods from the regulators of states where the troubled casino operator ran its businesses. Crown's chairman Ziggy Switkowski said the company would delay a conclusive Federal Court hearing — earlier scheduled for next week — to week starting June 6, as it was unsure of securing regulatory assent before that. In the scheme meeting, 92.1% Crown shareholders voted in favour of the deal, while 99.9% of the votes were in approval. The success of the deal with the US private equity giant could give billionaire James Packer an out from the beleaguered Australian casino firm hit by scandals and regulatory setbacks and draw the curtain on one of Australia's most storied business dynasties. Packer, Crown's biggest shareholder and founder, will cash in his chips, worth about A$3.3 billion (US$2.32 billion), … [Read more...] about Crown shareholders approve Blackstone deal; regulatory nods may pose delay

KUALA LUMPUR: Malaysia's four largest telecommunications firms are seeking a majority stake in a state 5G agency, countering a proposal by the government to offer them minority ownership, according to a letter sent by the firms to the finance ministry. The four dominant providers - Celcom Axiata Bhd, DiGi Telecommunications, Maxis Bhd and U Mobile - also want a review of the pricing model and network access plan offered by the agency, according to the May 9 letter seen by Reuters. ALSO READ: Ensuring the success of 5G Their objections to the government's proposal, which offered up to 70% of the country's sole 5G network operator spread among a wider group of companies, raise the risk of delays as the government aims to wrap up discussions on the stake sales by end-June. "We would not be able to justify a passive minority investment in this venture without being able to exercise influence and control to safeguard our investment," the letter said. Two people with direct … [Read more...] about Malaysia’s biggest telcos seek majority stake in 5G agency

The Intellectual Property Office of the Philippines (IPOPHL) will ask lawmakers for the power to block websites that infringe on intellectual property rights, marking its latest and perhaps most aggressive move yet against piracy. If Congress were to adopt its proposal, the IPOPHL would be able to order internet service providers such as PLDT and Globe to block websites with pirated content. The ISP would then have to block the site “within hours,” according to an IPOPHL statement on Monday. The blocking would still be done through the facilitation of the National Telecommunications Commission (NTC), the agency which has primary regulatory oversight over ISPs. ISPs, on the other hand, have the “ultimate [and] direct control in shutting sites.” However, in IPOPHL’s proposal, the NTC would have to immediately execute IPOPHL’s orders, eliminating the review process that takedown requests go through under current rules. “This site-blocking will enable IPOPHL to craft its own … [Read more...] about Agency seeks power to combat online piracy

It’s not unusual for a business to list risks it faces in a filing with the Securities and Exchange Commission (SEC). It is, however, unusual for that list to cover more than 30 pages. advertisement advertisement Digital World Acquisition, however, has pulled back the curtain on its proposed reverse merger with Trump’s Truth Social app , creating Trump Media and Technology Group (TMTG). And there are plenty of things that could go wrong. In over 31 pages, 5 of which are related specifically to Trump, the company warns potential investors of the dangers the company faces with its reliance on Trump and his popularity. “While TMTG believes there is sufficient demand for a true free speech platform, the image, reputation, popularity, and talent of its Chairman, President Trump will be important factors to its success,” the filing reads. “If President Trump becomes less popular or there are further controversies that damage his … [Read more...] about Digital World’s SEC filings show just how risky a Trump partnership can be

Share to Twitter Share to Linkedin Topline The University of Oxford has paused its trial of the Oxford-AstraZeneca coronavirus vaccine in children and teenagers amid concerns about a rare blood clotting syndrome that’s caused several countries to halt inoculation for certain age groups, the university confirmed with Forbes on Tuesday. Key Facts First reported by The Wall Street Journal , Oxford said in a statement to Forbes that it has not seen any safety issues from the trial itself, but decided to halt the test because of concerns about rare blood clotting problems reported in multiple countries. Oxford said it is waiting for more information from the U.K.’s Medicines and Healthcare products Regulatory Agency (MHRA), which is currently undergoing a “serious and detailed review” of the shot. The Oxford trial involves 200 young people between the ages of 6 and 17, and has been going on since mid-February, according to the WSJ . … [Read more...] about Oxford Pauses Trial Of AstraZeneca Vaccine In Children, Teens Amid Blood Clot Concerns

The Energy Regulatory Commission (ERC) is on track to issue the final pricing for the upcoming green energy auction scheduled for next month, its top official said. “We’re on track. We just have, of course, issues submitted to us—legal issues. But we’re on track,” said ERC chair Agnes Devanadera. She told reporters the regulatory agency has concluded the public consultations and taken into account all the comments submitted to them on the proposed prices under the green energy auction program or the competitive process of procuring renewable supply. The government is planning to bid out 2,000 megawatts (MW) of renewable energy capacity as part of efforts to promote the use of nonconventional sources of energy in the country.The Department of Energy (DOE) earlier said it intends to hold the green energy auction electronically on or before June 17. A prebid conference is slated no later than June 1. Meanwhile, the notice of award is targeted on June 24. Renewable capacities up … [Read more...] about ERC to unveil ‘green’ energy auction prices

In addition to Federal laws regulating reverse mortgage loans, 24 states plus the District of Columbia have their own regulations in the form of laws that govern how these loans are handled within that state. Many state-level regulations mirror those of the Federal government for federally backed home equity conversion mortgages (HECMs) . Others may apply to non-federal reverse mortgage loans such as single-purpose reverse mortgages and proprietary reverse mortgages . In other cases, state law expands on or goes beyond Federal law. Where state-level reverse mortgage rules appear in state law codes varies. Sometimes they are listed as part of banking laws. Other times they appear among real estate or mortgage rules. The state of Texas uniquely codified reverse mortgage law as an amendment to the state constitution in 1997. Key Takeaways State-level laws provide additional guidance regarding reverse mortgage loans and are found in 24 states, plus the District of … [Read more...] about Reverse Mortgage Rules by State

Share to Twitter Share to Linkedin Every U.S. Tax Court opinion in an IRC section 482 case dutifully recites some variation of the necessary incantation: The IRS has broad discretion in applying section 482 , and its determinations must be upheld unless the taxpayer can establish that the IRS abused its discretion by making adjustments that are “arbitrary, capricious, or unreasonable.” However, a substantive discussion of how that vague formulation should be applied in transfer pricing cases is much harder to find, and the Tax Court’s decades of manifest refusal to defer to the IRS’s section 482 interpretations compounds the mystery and confusion. Before the Tax Court issued its opinion in Coca-Cola Co. v. Commissioner , 155 T.C. 145 (2020), the most substantive guidance on the matter arguably came from a 1935 case that predates section 482 and the Tax Court itself. In Asiatic Petroleum Co. v. Commissioner , 31 B.T.A. 1152, 1157 (1935), aff’d … [Read more...] about Reviewing Standard Of Review After Tax Court’s Coca-Cola Opinion

Elon Musk Elon Musk's decision to accept some foreign investors as part of his $44 billion buyout of Twitter Inc runs the risk of inviting the kind of regulatory scrutiny over U.S. national security that social media peer TikTok faced, legal experts say. Musk disclosed on Thursday that Saudi Arabia's Prince Alwaleed bin Talal, Qatar's sovereign wealth fund and Binance, the world's biggest cryptocurrency exchange founded by Chinese native Changpeng Zhao, were part of a group of investors that will help him fund the acquisition of Twitter. This could give the Committee on Foreign Investment in the United States (CFIUS) an opening to scrutinize the deal for potential national security risks, six regulatory lawyers not involved in the transaction and interviewed by Reuters said. CFIUS is a panel of government agencies and departments that reviews mergers and acquisitions for potential threats to U.S. security. "To the extent that Musk's proposed acquisition of Twitter … [Read more...] about Elon Musk’s new Twitter funding could draw TikTok-like US scrutiny