Federal Legislative Developments

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On October 26, 2011, the United States Securities and Exchange Commission (“SEC”) adopted final rules implementing provisions of the Dodd-Frank Act requiring investment advisers that are registered with the SEC that advise one or more private funds and manage at least $150 million in private fund assets to file Form PF with the SEC. …
Read More SEC Issues Final Rules on Form PF Reporting Requirements of Investment Advisors

As we discussed earlier this week (here), the United States Treasury Department (the “Treasury”) announced the appointments of 15 individuals to serve as members of the Federal Advisory Committee on Insurance (the “Committee”).  The Committee serves as an advisory council to the Federal Insurance Office (“FIO”) and is discussed in more detail in our blog post (here). …
Read More NCOIL Believes a State Legislator Should Be Appointed to the Federal Advisory Committee on Insurance

Earlier this week the United States Treasury Department (the “Treasury”) announced the appointments of 15 individuals to serve as members of the Federal Advisory Committee on Insurance (the “Committee”).   The Committee serves as an advisory council to the Federal Insurance Office (“FIO”), which was established as part of the Treasury under the Dodd-Frank Act. …
Read More Appointments Made to the Federal Advisory Committee on Insurance

On October 25, 2011, the House Committee on Financial Services Subcommittee on Insurance, Housing and Community Opportunity held a hearing entitled “Insurance Oversight: Policy Implications for U.S. Consumers, Businesses and Jobs, Part 2.”  Michael T. McRaith, Director of the Federal Insurance Office (“FIO”) testified before the Committee providing a report of the FIO’s progress to date. …
Read More McRaith Testifies Before House Committee Regarding FIO Progress

On October 17, 2011, the Federal Insurance Office (FIO) requested comments on its study on how to modernize and improve the system of insurance regulation in the United States.  FIO is required to submit the study to Congress in January 2012.  Click here for the notice published by FIO in the Federal Register. …
Read More FIO Seeks Comments on Modernization and Improvement of US Insurance Regulation

Earlier this month, the U.S. House and U.S. Senate introduced legislation that would defer tax deductions for insurers that cede large portions of their U.S. premiums to offshore affiliates. …
Read More The House and Senate Introduce Bills Deferring Tax Deductions for Foreign Reinsurers

At its meeting on October 11, 2011, the Financial Stability Oversight Council (FSOC) issued a second notice of proposed rulemaking and proposed interpretive guidance as to the determination of nonbank financial companies that are systemically important financial institutions (SIFIs). …
Read More FSOC Proposes Regulations and Guidance Re SIFIs

HHS ANNOUNCES AWARDS FOR COMMUNITY HEALTH CENTERS

The Department of Health and Human Services (HHS) recently announced that 904 community health centers have been awarded $47 million in grants to enhance the coordination and quality of healthcare nationwide. …
Read More Healthcare Update: HHS Announces Community Health Center Awards; CMS Report Addresses Recovery Audit Contractors; Super Committee Hears from Healthcare Providers

MEDPAC PROPOSES PLAN TO FIX MEDICARE PHYSICIAN PAYMENT FORMULA
The Medicare Payment Advisory Commission (MedPAC) recently unveiled a new approach to overhaul the complicated Medicare physician payment formula. Every year, that formula – known as the sustainable growth rate (SGR) – calculates larger and larger mandated cuts to doctors’ Medicare reimbursements, and each year, Congress acts to temporarily halt the cuts via short-term patches. …
Read More Healthcare Update: MedPAC Proposes Medicare Physician Payment Overhaul; CMS Releases Notice for Using Identifiable Data in Accountable Care Organizations; President Proposes Medicare Changes In Deficit Reduction Package