The Regulatory Week in Review: August 21, 2015
- The U.S. Environmental Protection Agency (EPA) proposed what it called “commonsense measures” to curb methane emissions from the natural gas and oil sectors, as part of the Obama administration’s broader strategy to reduce such emissions by 40 to 45 percent by 2025.
- The Federal Transit Administration (FTA) requested comments on a proposed rule that institutes data-based Safety Management Systems (SMS), summarizes the National Public Transportation Safety Plan guidance, and creates procedures for investigations and other actions within the agency’s authority to maintain the safety of public transportation.
- The inspector general for the U.S. Environmental Protection Agency (EPA) reportedly has launched an investigation into what precipitated the spill from Gold King Mine, a defunct Colorado gold mine out of which EPA and contract workers inadvertently released several million gallons of wastewater containing toxic substances.
- The U.S. Securities and Exchange Commission (SEC) issued a final rule regarding the implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which will require that companies disclose, among other figures, the ratio of all employees’ annual total compensation to the annual compensation of the chief executive officer.
- The Board of Governors of the Federal Reserve System issued a final rule that requires risk-based capital surcharges from global systemically important bank holding companies (GSIBs), and outlines the methodologies to determine a bank’s systemic importance and its surcharge level if required.
- In light of the U.S. Securities and Exchange Commission’s (SEC) recent finding that Citigroup Global Markets Inc. and Citigroup Alternative Investments LLC had made misleading and false representations to certain investors, the SEC announced that the two Citigroup affiliates had agreed to pay nearly $180 million to settle the charges.