The OIRA Module: Published Research

From: Bloomberg

By Cass R. Sunstein

The Food and Drug Administration has outlawed the only over-the-counter asthma medicine in the U.S. It has also banned a number of other asthma medicines that patients like and that doctors have prescribed for them.

In imposing these prohibitions, the FDA hasn’t denied that the banned asthma medicines are safe and effective for their intended use. (Disclosure: While serving as administrator of the White House Office of Information and Regulatory Affairs during President Barack Obama’s first term, I participated in discussions of some issues examined here.)

From: Reuters

* White says some disclosures are obsolete, redundant

* Says historical share closing price may be unnecessary

* Sees no need for rule mandating cyber-attack disclosures

* Says executive compensation reporting is good, warns of overload

* SEC will undertake broad review of reporting rules

By Sarah N. Lynch

NATIONAL HARBOR, Md. Oct 15 (Reuters) – U.S. securities regulators are reviewing whether public companies overwhelm investors with “information overload” and should instead streamline disclosures about financial data, executive pay and dozens of other issues.

From: Jim Hamilton’s World of Securities Regulation

In an atmosphere of increased congressional scrutiny of the cost and benefits of federal regulations, Howard Shelanski, the new Administrator of the Office of Information and Regulatory Affairs (OIRA), told the House Judiciary Committee regulatory reform subcommittee that the retrospective review of regulations is a crucial way to ensure that the regulatory system is modern, streamlined, and does not impose unnecessary burdens on the public. Even regulations that were well crafted when first promulgated, testified Mr. Shelanski, can become unnecessary or excessively burdensome over time and with changing conditions. The retrospective review of regulations on the books helps to ensure that those regulations are continuing to help promote safety, health, welfare, and well-without imposing unnecessary costs. Agencies filed their most recent retrospective review plans with OIRA in July.