Administrative Procedure Act (United States)

NCLA Encourages Fifth Circuit to Rein in Renegade SEC’s Unlawful Private Fund Regulation Effort

Retrieved on: 
Thursday, November 9, 2023
National Association, Privatization fund, Security (finance), Investment company, NCLA, Congress, Investment Company Act of 1940, United States Court of Appeals for the Fifth Circuit, Administration, Dodd–Frank Wall Street Reform and Consumer Protection Act, Administrative Procedure Act (United States), Financial adviser

Verret joined NCLA’s brief in the case, which draws from comments some of them filed during SEC’s rulemaking process.

Key Points: 
  • Verret joined NCLA’s brief in the case, which draws from comments some of them filed during SEC’s rulemaking process.
  • But that Dodd-Frank provision was focused entirely on retail customers and not highly sophisticated private investment funds.
  • NCLA joins amici’s call for the Fifth Circuit to scrap this unlawful SEC rule.
  • We are confident that, once again, the courts will rein in the SEC and set aside this new rule.”

Humana Prices $1.35 Billion Debt Offering

Retrieved on: 
Friday, November 3, 2023
Professional Services, Health, Other Professional Services, Insurance, Health Insurance, General Health, Sale, Goldman Sachs, Security (finance), NYSE, FFS, Information, Medicare, Government, Coronavirus, Form, News, Note, Final, Judgement, Growth, Inc., BofA Securities, COVID-19, Prospectus, Risk, Pharmacy, J.P. Morgan & Co., Privacy, Failure, Debt-to-GDP ratio, Administration, Star, CMS, Service, Barclays Capital Inc. v. Theflyonthewall.com, Inc., Administrative Procedure Act (United States), Health insurance, Risk management, Pharmaceutical industry, Financial adviser, Humana

Humana Inc. (the “company”) (NYSE: HUM) announced today that it has priced a public offering of $1.35 billion in aggregate principal amount of senior notes.

Key Points: 
  • Humana Inc. (the “company”) (NYSE: HUM) announced today that it has priced a public offering of $1.35 billion in aggregate principal amount of senior notes.
  • The company expects net proceeds from the Senior Notes Offerings will be approximately $1.324 billion after deducting underwriters’ discounts and estimated offering expenses.
  • This news release includes forward-looking statements regarding Humana within the meaning of the Private Securities Litigation Reform Act of 1995.
  • Downgrades in Humana’s debt ratings, should they occur, may adversely affect its business, results of operations, and financial condition.

NCLA Asks Appeals Court to Block Unlawful Biden Scheme Trying to Cancel Student Loan Debt

Retrieved on: 
Tuesday, October 10, 2023
Congress, Mackinac Center for Public Policy, Joe Biden, Law of the United Kingdom, Public Service Loan Forgiveness, Democracy, Forgiveness, Same-sex marriage in the Sixth Circuit, Education, Cato, Organization, Court, United States Court of Appeals for the Sixth Circuit, Administration, Cato Institute, Bangladesh Technical Education Board, IDR, Greenhouse effect (United States Supreme Court), Constitution, NCLA, Public policy, Supreme court, Administrative Procedure Act (United States), Fiat, Policy, PSLF, Ink

Moving on an accelerated schedule to deter court review, the Department of Education announced the unlawful plan in July before the ink was dry on the Supreme Court opinion striking down its old $430 billion student loan debt cancellation plan.

Key Points: 
  • Moving on an accelerated schedule to deter court review, the Department of Education announced the unlawful plan in July before the ink was dry on the Supreme Court opinion striking down its old $430 billion student loan debt cancellation plan.
  • On October 4, President Biden announced an additional $9 billion in student loan debt cancellation, including $5.2 billion for PSLF borrowers and $2.8 billion for IDR borrowers.
  • NCLA released the following statements:
    “The Supreme Court has declared unlawful the Administration’s $430 billion student loan program to cancel student loan debt by administrative fiat without involving Congress.
  • The Department of Education’s ongoing campaign to cancel billions of dollars of student loans by rewriting statutes is disgraceful and despotic.”

NCLA Asks Appeals Court to Block Unlawful Biden Scheme Trying to Cancel Student Loan Debt

Retrieved on: 
Tuesday, October 10, 2023
Congress, Mackinac Center for Public Policy, Joe Biden, Law of the United Kingdom, Public Service Loan Forgiveness, Democracy, Forgiveness, Same-sex marriage in the Sixth Circuit, Education, Cato, Organization, Court, United States Court of Appeals for the Sixth Circuit, Administration, Cato Institute, Bangladesh Technical Education Board, IDR, Greenhouse effect (United States Supreme Court), Constitution, NCLA, Public policy, Supreme court, Administrative Procedure Act (United States), Fiat, Policy, PSLF, Ink

Moving on an accelerated schedule to deter court review, the Department of Education announced the unlawful plan in July before the ink was dry on the Supreme Court opinion striking down its old $430 billion student loan debt cancellation plan.

Key Points: 
  • Moving on an accelerated schedule to deter court review, the Department of Education announced the unlawful plan in July before the ink was dry on the Supreme Court opinion striking down its old $430 billion student loan debt cancellation plan.
  • On October 4, President Biden announced an additional $9 billion in student loan debt cancellation, including $5.2 billion for PSLF borrowers and $2.8 billion for IDR borrowers.
  • NCLA released the following statements:
    “The Supreme Court has declared unlawful the Administration’s $430 billion student loan program to cancel student loan debt by administrative fiat without involving Congress.
  • The Department of Education’s ongoing campaign to cancel billions of dollars of student loans by rewriting statutes is disgraceful and despotic.”

AWWA, NRWA renew call for collaborative approach after EPA withdraws cybersecurity rule

Retrieved on: 
Thursday, October 12, 2023
Congress, Islamic State affiliated terrorist attacks in France, National Rural Water Association, Drinking water, Public, House Committee, Lafrance, American Water Works Association, NIST, Administrative Procedure Act, Member of Congress, National Cyber Security Awareness Month, Computer security, United States Court of Appeals for the Eighth Circuit, AWWA, Safe, EPA, Sanitation, Environment, Safe Drinking Water Act, United States Congress, Administrative Procedure Act (United States), National Institute of Standards and Technology, NRWA, NIST Cybersecurity Framework, Quality of life, Water, State, Medical device

DENVER, Oct. 12, 2023 /PRNewswire-PRWeb/ -- The U.S. Environmental Protection Agency (EPA) today announced it is withdrawing its March 2023 Cybersecurity Rule. The American Water Works Association (AWWA) and National Rural Water Association (NRWA) are pleased with the decision and have renewed their call for a collaborative approach to cybersecurity measures in the water sector.

Key Points: 
  • The American Water Works Association (AWWA) and National Rural Water Association (NRWA) are pleased with the decision and have renewed their call for a collaborative approach to cybersecurity measures in the water sector.
  • DENVER, Oct. 12, 2023 /PRNewswire-PRWeb/ -- The U.S. Environmental Protection Agency (EPA) today announced it is withdrawing its March 2023 Cybersecurity Rule.
  • The American Water Works Association (AWWA) and National Rural Water Association (NRWA) are pleased with the decision and have renewed their call for a collaborative approach to cybersecurity measures in the water sector.
  • Finally, the rule would have required cybersecurity reviews by state regulatory agencies that lack expertise and resources for cybersecurity oversight.

National Association of Private Fund Managers Statement on Litigation Related to SEC's Private Fund Adviser Rules

Retrieved on: 
Friday, September 1, 2023
Administrative Procedure Act (United States), National Association, Administration, Financial adviser

FORT WORTH, Texas, Sept. 1, 2023 /PRNewswire/ -- The National Association of Private Fund Managers ("NAPFM") today issued the following statement regarding its participation in the litigation brought against the United States Securities and Exchange Commission ("SEC") related to the recently approved Private Fund Adviser rules:

Key Points: 
  • FORT WORTH, Texas, Sept. 1, 2023 /PRNewswire/ -- The National Association of Private Fund Managers ("NAPFM") today issued the following statement regarding its participation in the litigation brought against the United States Securities and Exchange Commission ("SEC") related to the recently approved Private Fund Adviser rules:
    "NAPFM believes it is important to join this litigation challenging the SEC's newly-adopted Private Fund Adviser rules.
  • These rules will lead to higher costs and fewer choices for fund investors, ultimately limiting the ability of pension funds, endowments, and other institutions to obtain investment returns for their beneficiaries.
  • We believe the rules are a blatant overreach of the SEC's statutory authority and violate the Administrative Procedure Act, and we are committed to pursuing this case to prevent these unnecessary and damaging rules from taking effect."

NCLA Suit for Cato and Mackinac Center Contests Biden’s New Student Loan Debt Canceling Scheme

Retrieved on: 
Friday, August 4, 2023
Bangladesh Technical Education Board, IDR, Cato, Office of Inspector General, U.S. Department of Health and Human Services, Public policy, Mackinac Center for Public Policy, Administrative Procedure Act (United States), Nonsense, Public Service Loan Forgiveness, Cato Institute, Ink, Organization, Treasury, Congress, District court, O'Hara, U.S. Treasury, Administration, Complaint, Supreme court, Law of the United Kingdom, NCLA, Forgiveness, PSLF, Douglas v. U.S. District Court ex rel Talk America, Constitution, Security (finance), Lease

The plan would cancel even more debt prematurely at taxpayer expense for another 2.8 million IDR borrowers in the future.

Key Points: 
  • The plan would cancel even more debt prematurely at taxpayer expense for another 2.8 million IDR borrowers in the future.
  • The plan thus directly harms non-profit organizations that benefit from PSLF like Cato and the Mackinac Center and undermines Congress’ goals in enacting the PSLF program.
  • NCLA made similar standing arguments in its successful Biden v. Nebraska amicus curiae brief , in a now-closed federal lawsuit with the Cato Institute against the previous student loan debt cancellation plan, and in a continuing Mackinac Center suit challenging the Department of Education’s repeated student loan payment suspensions.
  • No amount of nonsense changes the essential fact Congress required debtors to make payments before receiving debt relief.”

In NCLA Amicus Win, Fifth Circuit Blocks CFTC’s Abusive Policy Reversal Against PredictIt Market

Retrieved on: 
Monday, July 24, 2023
CFTC, Commodity Exchange Act, Policy, Administrative Procedure Act (United States), Court, Fifth, District court, United States Court of Appeals for the Fifth Circuit, Administration, NCLA, Letter, Douglas v. U.S. District Court ex rel Talk America, Contract management

NCLA celebrates this ruling, having filed an amicus curiae brief asking the Fifth Circuit to stop CFTC’s unjust treatment of PredictIt.

Key Points: 
  • NCLA celebrates this ruling, having filed an amicus curiae brief asking the Fifth Circuit to stop CFTC’s unjust treatment of PredictIt.
  • PredictIt provides a platform for investors to trade contracts predicting the likely outcomes of major political events like elections.
  • However, eight years later, in August 2022, CFTC abruptly rescinded its no-action letter permitting this arrangement for PredictIt.
  • NCLA is deeply gratified by the Fifth Circuit’s confirmation that agencies not only must explicitly consider reliance interests before reversing prior policy positions, but also must articulate a reasoned explanation for overriding those interests or not reasonably accommodating them.”

NCLA Challenges SEC’s ‘Hotel California’ Administrative Adjudication Regime

Retrieved on: 
Monday, April 24, 2023
Supreme, Commission, Alje Vennema, Administrative Procedure Act (United States), Due Process Clause, ALJ, Lucia v. Securities and Exchange Commission, Hotel California, Fifth, Congress, United States Court of Appeals for the Fifth Circuit, Administration, Supreme court, Seventh Amendment, NCLA, Fifth Amendment, Financial adviser

Under SEC’s own rules, agency commissioners had to decide our clients’ appeal no later than October 2020.

Key Points: 
  • Under SEC’s own rules, agency commissioners had to decide our clients’ appeal no later than October 2020.
  • SEC’s prolonged and willful refusal to decide our clients’ case is depriving them of their right to a fair and timely adjudication under the Due Process Clause of the Fifth Amendment and under the Administrative Procedure Act.
  • As a Texas resident, Ms. Young and her company would benefit from the Fifth Circuit’s decision in Jarkesy v. SEC.
  • SEC’s willful disregard for our clients’ constitutional rights, particularly their rights to a fair and impartial tribunal and to a jury trial, is inexcusable.”

Public Interest Groups, Including Consumer Watchdog, Take On Newsom Administration Over Backtracking On Cleanup Of Radioactivity At Santa Susana Site, Case To Be Heard On Monday

Retrieved on: 
Thursday, April 13, 2023
LLP, Cold War, Climate change litigation and the California Environmental Quality Act, California Department of Toxic Substances Control, Reuters, Radiation, Radioactive decay, Santa Susana Field Laboratory, Rhabdomyosarcoma, Public, DTSC, APA, Radioactive waste, Cancer, CEQA, Administrative Procedure Act (United States), Environmental health, Web browser, Recycling, Massachusetts Department of Public Health, Gap, Committee, Administration, Plant, Public health, Florida Third District Court of Appeal, Soil, DPH, Hearing, Comment, SSFL, United States Court of Appeals for the Armed Forces, Groundwater, Consumer Watchdog, Government, Ewing sarcoma, Social, Leukemia, Appellate court, Void coefficient, Hazardous waste, Rare-earth element, Uranium mining, Publishing, Boeing, Physician, Simi Hills

The case was brought by Physicians for Social Responsibility-Los Angeles, the Southern California Federation of Scientists, Committee to Bridge the Gap, and Consumer Watchdog.

Key Points: 
  • The case was brought by Physicians for Social Responsibility-Los Angeles, the Southern California Federation of Scientists, Committee to Bridge the Gap, and Consumer Watchdog.
  • "The Newsom Administration has back-tracked on its duty to the public and promise of an expedited, safe and complete radioactive cleanup of the Boeing site," said Consumer Watchdog senior staff attorney Pam Pressley.
  • More than 700,000 people live within ten miles of one of the most contaminated and dangerous sites in the state.
  • The final brief of consumer and environmental groups replying to the government agencies was filed in October.