New regs for Wednesday: Finance rules roll out

A slew of new regulations will be coming out on Wednesday. There will be financial rules, changes to environmental regulations and requirements designed to protect worker safety. Here’s a look:

Finance:

The Federal Deposit Insurance Corporation (FDIC) is looking to write a regulation preventing people or institutions that contributed to a bank’s failure from buying the bank’s assets.

The measure, which was designed as part of the Dodd-Frank Act, would “prohibit individuals or entities who profited or engaged in wrongdoing at the expense of a covered financial company, or seriously mismanaged a covered financial company, from buying assets of any covered financial company from the FDIC,” the agency wrote.

Comments will be accepted from the public for 60 days. 

The Commodity Futures Trading Commission is finalizing rules for swaps dealers, as part of the Dodd-Frank financial reform law.

The Internal revenue Service is also publishing regulations that provide guidance about some aspects of derivative contracts

Housing:

The Department of Housing and Urban Development is giving the public more time to comment on proposed regulations for its housing counseling program.

Environment:

The Environmental Protection Agency (EPA) is raising a number of the penalties it charges for violating various regulations due to inflation.

The price tag for some violations of the Clean Water Act, Safe Drinking Water Act and other laws will go up in 30 days. 

Additionally, the agency is extending the public comment period on its proposal to change reporting and recordkeeping requirements for a greenhouse gas program. 

Energy:

The Nuclear Regulatory Commission is hitting the brakes on proposed changes to its appeals process. The agency is withdrawing the draft changes, which were unveiled in April, because it “does not believe that amendments to the current regulations are warranted at this time.” 

The Interior Department’s surface mining office has received a proposed change to Oklahoma’s mining regulatory program. 

Worker safety:

The Occupational Safety and Health Administration (OSHA) is finalizing a temporary rule that updated standards for industry signs.

OSHA said when it issued the temporary rule in June that it would pull the regulation and go through the normal rulemaking process, which includes a chance to the public to give input, if it received any objections. Since the agency received no negative comments, however, OSHA is finalizing the change. 

Social Security:

The Society Security Administration is extending for one year rules that allow state examiners to make some determinations about disabilities without needing a medical consultant’s approval.

State examiners have had the power since 2010, but their authority was scheduled to run out on Nov. 12 of this year. Now the examiners will have the power to bypass a medical or psychological consultant until Nov. 14, 2014. 

“This rule is consistent with our strategic goal to make fully favorable determinations when we can as quickly as possible,” the agency said.

“The rule will also help us process cases more efficiently because it will allow State agency medical and psychological consultants to spend their time on cases that require their expertise.”

Pesticides:

The EPA is setting a limit for residues of the chemical imazapyr on lentils, rapeseed and sunflower seeds, and issuing a tolerance for the pesticide spirotetramat on corn.

Endangered species:

The Commerce Department has declared that there is “substantial information” indicating that three types of hagfish and three species of sea snakes may be threatened or endangered. As a result, the agency will conduct a thorough review of the creatures’ status to determine if they need species protections. 

Visas:

The State Department is changing its visa rules for diplomats to allow for more exceptions to some restrictions.