Feb
27

A free-market agenda Maxine Waters can support

Editor’s Note: See also  Unwarranted Deputization: Increased Delegation of Law Enforcement Duties to Financial Institutions Undermines American Competitiveness.

From: Politico | The Agenda

By DIEGO ZULUAGA

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Next, Waters’ committee should review the 1970 Bank Secrecy Act. The BSA was aimed at curbing money laundering, the process of turning funds earned through illegal activities into legitimate-looking assets such as real estate. Banks are required to file reports on every cash transaction over $10,000 and some above $5,000 — a compliance nightmare for small banks, accounting for nearly a quarter of their regulatory costs.

Feb
13

White House Emphasizes Data Quality, Consensus Standards, OIRA Review in Regulating Artificial Intelligence

Editor’s Note: See also An Updated Look at the Federal Policies Governing How Agencies Use Voluntary Consensus Standards in Regulatory, Procurement, and Science Documents.

From: Lawfare and White House

Document: Executive Order on Artificial Intelligence

By Matthew Kahn

On Monday, President Trump issued the following executive order on artificial intelligence. The White House provided a summary of the order, and the full order is below.

Executive Order on Maintaining American Leadership in Artificial Intelligence

By the authority vested in me as President by the Constitution and the laws of the United States of America, it is hereby ordered as follows:

Feb
12

New Recommendations and Two (!) Separate Statements (ACUS Update)

From: Notice & Comment | A Blog from the Yale Journal on Regulation and the ABA Section of Administrative Law & Regulatory Practice

by Emily Bremer

The Administrative Conference recently published its newest slate of recommendations, which the Assembly adopted at its 70th Plenary session, held in December 2018. Two of the recommendations drew separate statements from members of the Assembly.  As I have previously explained, separate statements are permitted by the Administrative Conference Act (5 U.S.C. 595(a)(1)) and the agency’s bylaws, but they are rare.  For one Plenary to draw two separate statements is unusual indeed!

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Feb
07

Administrative Procedure Act Limitations: Process and Oversight Shortcomings

From: Competitive Enterprise Institute

Clyde Wayne Crews

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Costs of A Regulatory Bell That Tolls for All. While the lucky may dodge direct regulation for a time, every company has business suppliers and business customers, and effects propagate sooner or later. Fixed, difficult-to-change regulations bind all of society—not just the target firm(s) and the market wealth-creating process—to suboptimal conditions. Eventually, given the interconnectedness of business (supply chains, business customer networks) the regulatory bell tolls for all, apart from other indirect effects of specific rules. Airline regulation affects companies other than airlines; pulling strings in one sector can entangle partners and other sectors, sideline entrepreneurship, and impoverish. At unpredictable times, it may become apparent that regulation affecting rivals will eventually boomerang, and that may be the impetus for reform.