Established in 1995, the Interstate Technology & Regulatory Council (ITRC) is a state-led, national
coalition of personnel from the environmental regulatory agencies of some 40 states and the District
of Columbia; three federal agencies; tribes; and public and industry stakeholders. The organization is
devoted to reducing barriers to, and speeding interstate deployment of, better, more cost-effective,
innovative environmental techniques.
Advertising regulation refers to the laws and rules defining the ways in which products can be advertised in a particular region. Rules can define a wide number of different aspects, such as placement, timing, and content. In the United States, false advertising and health-related ads are regulated the most. Many communities have their own rules, particularly for outdoor advertising. Sweden and Norway prohibit domestic advertising that targets children
Renewable fuels standard (RFS) policies are becoming a popular public policy mechanism for developing the market for renewable fuels in the transportation sector. During the past decade, U.S. states and several countries began implementing these more market-based (less command and control) policies to support increased biofuels production and use. This paper presents an overview of current and proposed U.S. state-level policies, as well as selected electric sector policies and international fuel standard policies. Current U.S.
This paper addresses issues in financial sector regulation from two perspectives. First, it reports on the state of implementation of financial regulatory standards across banking, insurance, and securities sectors in a select group of Fund member countries. Second, it raises issues relating to the design of these three sector standards, arising from the implementation experience and the evolving structure of financial systems. In this regard, the paper identifies a few emerging regulatory risks and some cross-sectoral issues that may warrant further guidance by standard setters....
Edited by Rajnish Mehra, this volume focuses on the equity risk premium puzzle, a term coined by Mehra and Prescott in 1985 which encompasses a number of empirical regularities in the prices of capital assets that are at odds with the predictions of standard economic theory.This handbook is indispensable for any serious assessment of the state of the art on the famous equity premium puzzle.
In addition to substantive reforms of the authorities and practices of regulation and
supervision, the proposals contained in this report entail a significant restructuring of our
regulatory system. We propose the creation of a Financial Services Oversight Council,
chaired by Treasury and including the heads of the principal federal financial regulators
as members. We also propose the creation of two new agencies.
Given recent seismic upheavals in the world’s money markets, an updated edition of an
authoritative, reliable textbook on the international law of foreign investment has rarely
been so timely. Sornarajah’s classic text surveys how international law has developed to
protect foreign investments by multinational actors and to control any misconduct on
their part. It analyses treaty-based methods, examining the effectiveness of bilateral and
regional investment treaties.
Earlier in the year, when the affiliate rule was first implemented, the state expected that
the planned expansion of Medicaid to non-elderly adults with incomes under 133% of poverty
under the Affordable Care Act in 2014 would ensure that most of the low-income WHP clients
would become eligible for Medicaid and that additional support might only be needed for those
women with incomes between 138% and 185% of poverty.
Assuming that (1) new information will correct or improve the firm's prior beliefs and
(2) the firm has the technical and regulatory flexibility to alter its decisions, we are ultimately
concerned with the economic value of the changed decision. Given that the firm will "re-
optimize" based on the new, better information, what is the value of that re-optimization?
Assume that Chemical A's cost was found to be grossly underestimated and that the
firm was able to identify a substitute input B whose true cost was substantially lower.
While a significant number of nations have adopted or accepted IFRS, in order
to achieve the true benefits of a uniform set of accounting standards, it is
important that IFRS is adopted by nations in a manner consistent with those
issued by the IASB. In addition, it is equally important that they are applied and
enforced in a consistent manner. Therefore, there must also be a mechanism to
ensure that auditing standards and the practices of auditors facilitate consistent
application of IFRS. Similarly, over time there must be improved coordination
of global regulatory review.
Following the vote of the EU Parliament plenary session of
11 November 2010, and without formally waiting for the entry into force of the Directive expected for mid-2011, work on the implementation phase has started. This work will span more than two years, and will consist of two main pillars: Member States will draft their implementing legislation while the Commission and ESMA (former CESR)6 will work on so-called “Level 2” measures or technical and regulatory guidelines for implementation.
These capital requirements were notable because, for
the first time, regulatory minimum capital requirements could
be based on the output of banks’ internal risk measurement
models. The market risk capital requirements thus stood in
sharp contrast to previous regulatory capital regimes, which
were based on broad, uniform regulatory measures of risk
The Committee evaluated the impact of its regulatory regimes on trade finance for low
income countries. For those countries, confirmed letters of credit are of specific importance.
Confirmed letters of credit provide exporters with additional protection against any losses
incurred from importers’ and issuing banks’ failure to meet their obligations of payments.
In the course of updating the earlier research, the authors reviewed the 12 regulatory categories covered in the original report and
eliminated three of them (restrictions on portraying children, athletic achievement, and intoxication) because of their limited
scope and the difficulty in enforcing them. Two of the earlier placement categories (outdoor ads near children and outdoor ads
near schools, playgrounds, and churches) had substantial overlap and were combined into a single “outdoor ads” category.
Any book written about a subject which is rapidly changing necessarily
represents a ‘snapshot’ in time—the author’s attempts to describe the current
situation, and to predict what might be the state of things when the book is
published. In the case of this book, the speed of change is rapidly increasing as
the European Community (EC) nears 31 December 1992, the target date which
the Single European Act defines as that by which a Single Market in products
should be established.
In most cases, for member jurisdictions that have incorporated the Basel II framework, the
external ratings that can be used for the purpose of determining regulatory capital are limited
to those provided by rating agencies recognised by national supervisors as ECAIs.
Supervisors assess whether these criteria are fulfilled and aim at identifying rating agencies
that issue ratings that are sufficiently sound and robust to warrant using them to determine
the appropriate regulatory capital levels.
Liquidity management: A more centralized (branch) model would allow global banks
with wholesale operations to manage liquidity more efficiently at the group level,
allowing them to transfer liquidity where it is most needed (in normal times, as well as
at times of stress, absent barriers placed on transferring funds across jurisdictions in
excess of the regulatory requirements).
A review of the regulatory framework can also provide some indication of the level of
competition within a country’s banking system. Other things being equal, competition should
be greater when regulatory barriers to entry and exit is low, encouraging new entrants. The
regulatory framework for the EAC region, summarized in Table 1, suggests a relatively open
regime with similar conditions of entry and prudential treatment for all types of banks across
Respondent, the Public Company Accounting Oversight Board, was created as part of a series of accounting reforms in the Sarbanes-Oxley Act of 2002. The Board is composed of five members appointedby the Securities and Exchange Commission. It was modeled on pri-vate self-regulatory organizations in the securities industry—such as the New York Stock Exchange—that investigate and discipline theirown members subject to Commission oversight. Unlike these organi-zations, the Board is a Government-created entity with expansivepowers to govern an entire industry.
This book is a collection of contributions to the conference entitled
‘European Administrative Law – The Move Towards an Integrated
Administration’ held in Luxembourg in February 2007. The editors would
like to thank the Fonds National de la Recherche Luxembourg and the
Centre of European Law at King’s College London for their generous
fi nancial support for the conference and the book project.