Joel Wood, The Council’s senior vice president of government affairs, gives a report on the state of play for Trumpcare and the House’s repeal and replace efforts.
Today, the White House issued two releases of import to the financial services community: a memorandum to the Department of Labor directing it to re-examine the fiduciary rule, and an executive order on financial services regulation. Both actions are discussed in more detail below.
The New York Department of Financial Services (NYDFS) published a revised version of its proposed cyber rule late yesterday that purportedly responds to many of the criticisms that had been lodged against the initial proposed rule.
The Treasury Department recently issued regulatory items related to the Terrorism Risk Insurance Program (“TRIP” or “Program”)
According to widely circulating reports, next week the New York Department of Financial Services intends to issue a re-proposed rule for its proposed cyber regulation, “Cybersecurity Requirements for Financial Services Companies” (Proposed 23 NYCRR 500) and to allow a 30-day comment period on the re-proposed rule.
Today, Congress passed, in an overwhelming 94-5 vote, the 21st Century Cures Act, which contains a provision that dramatically alters the way certain small employer health reimbursement arrangements (HRAs) are treated under the Affordable Care Act.
On Friday, the IRS extended the due date for certain 2016 ACA information-reporting requirements for insurers, self-insuring employers and certain other providers of minimum essential coverage by issuing Notice 2016-70.
This week, The Council is hosting its annual Insurance Leadership Forum in the state of Colorado, and the topic of Amendment 69 on the Colorado ballot has been top of mind. If passed, this amendment would establish a single-payer health insurance system in the state, wiping out private healthcare and workers’ compensation policies.
With the election only 5 weeks away, all eyes are on Colorado and the ballot initiative – Amendment 69 – that would amend Colorado’s Constitution, gut the state’s current healthcare system, and replace it with “ColoradoCare” – an ambiguous framework of a state-run health insurer.
The Council applauded today the introduction of H.R.6159. The legislation is a critical step to clarifying that property/casualty insurance premiums are irrelevant to tax evasion and should not be included as part of the Foreign Account Tax Compliance Act (FATCA). If signed into law, the bill would ease a projected $500 million compliance burden that does nothing to further FATCA’s goals to combat tax evasion.
