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  May 15, 2013, 4:07 pm

White House pans bill that would limit the SEC’s regulatory power

By Ben Goad

But the policy statement stopped short of threatening a veto should Congress approve the bill.

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Archived under: Banking/Financial Institutions, Legislation
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  May 15, 2013, 2:51 pm

House panel approves drug-tracking bill

By Megan R. Wilson

A House panel on Wednesday advanced legislation along party lines to increase the tracking of prescription drugs.

The Safeguarding America's Pharmaceuticals Act of 2013 requires the Food and Drug Administration (FDA) to propose new rules to keep consumers safe from counterfeit prescriptions, but stops short of forcing regulators to finalize those rules.

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Archived under: Medical Devices and Prescription Drug Policy, Legislation
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  May 15, 2013, 2:50 pm

Justice bans additional synthetic pot recipes

By Ben Goad

Three more chemical mixtures of synthetic marijuana will be outlawed as of Thursday, following the latest in a series of actions by the Justice Department to the drug’s use. 

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Archived under: Administration
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  May 15, 2013, 12:55 pm

Beverage group rips 'ludicrous' call from NTSB for lowered blood alcohol limit

By Daniel Strauss

The American Beverage Institute said lowering the limit for drivers to 0.05 would “criminalize perfectly responsible behavior.”

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Archived under: News, Automobiles, Business
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  May 15, 2013, 12:15 pm

Feds ease rules for 'smart pills' that track patients from their stomachs

By Julian Hattem

The Obama administration is taking steps to codify looser regulations on "smart pills" that transmit messages from inside a patient's stomach.

The Food and Drug Administration (FDA) is formally classifying the miniature medical device in a way that relaxes the government's control over the technology. The device can be attached to pills and send time-stamped messages about how drugs are being ingested.

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Archived under: Other, Healthcare
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  May 15, 2013, 11:38 am

Ethics office cracks down on lavish agency junkets

By Ben Goad

The U.S. Office of Government Ethics (OGE) issued new guidance Wednesday designed to cut down on exorbitant spending on annual conferences.

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Archived under: Administration
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  May 15, 2013, 11:12 am

UAE financial firms hit with sanctions for aiding Iranian banks

By Julian Hattem

Two financial services companies based in the United Arab Emirates will be frozen out of the U.S. financial market for helping Iran to evade economic sanctions.

The Treasury Department on Wednesday imposed sanctions on an exchange house and a trading company for ignoring sanctions on Iranian banks and helping them access foreign currency.

According to the department, the financial service companies conducted millions of dollars of transactions with the Iranian banks.

“As Iran’s access to the international banking sector comes under increasing pressure, we have seen it turn increasingly to exchange houses and trading companies in its attempts to evade international sanctions and maintain its access to foreign exchange,” said Under Secretary for Terrorism and Financial Intelligence David Cohen in a statement. 

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Archived under: Finance
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  May 15, 2013, 10:39 am

Thursday's meeting announcements: Coordinating legal services

By Julian Hattem

A whole host of agencies and their advisory boards will hold public meetings in coming weeks. Here are the new announcements:

The board of directors of the Legal Services Corporation, which funds legal aid for low-income Americans, is holding a conference call on May 21 to discuss an upcoming report to Congress. 

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Archived under: Other
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  May 15, 2013, 10:07 am

New regs for Thursday: Brandy labels

By Julian Hattem

A bunch of new regulations and guidances will come out in Thursday's Federal Register, covering everything from liquor to radioactive material. Here are the highlights:

Food and Drugs:
The Treasury Department is issuing standards requiring that only Peru- or Chile-manufactured pisco, a type of brandy, can be labeled as such in the United States. 

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Archived under: Pending Regs
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  May 15, 2013, 7:50 am

News bites: Regs on the rise under Obama

By Ben Goad

A new government-issued report finds hundreds more final rules were published in President Obama’s first term than were issued in George W. Bush’s second, RegWatch reports.

Regulators have seized their 13th bank this year, according to The Washington Post reports. The number represents a huge drop from 2010, when bank failures related to the Great Recession peaked at 157.

Defense Secretary Chuck Hagel is ordering the military to re-train tens of thousands of military recruiters amid widespread reports of sexual assaults, the Post reports.

Sen. Bill Nelson (D-Fla.) is pressing regulators to fix a housing sector quirk that brands some short sales of under water homes as foreclosures, a “kiss of death” for the sellers, according to The Tampa Bay Times.

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Archived under: Administration
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