Small Business ALERTS, Office of Advocacy, June 22, 2015
Tuesday, June 23, 2015
June 22, 2015
Dear Small Business Stakeholders,
Please see the update from the SBA Office of Advocacy. You can stay up-to-date on our office by reading our comment letters and reviewing our research. As always, we are seeking your input on current regulatory alerts and your participation in our regulatory roundtables. Please be in touch directly with the listed Advocacy contact for any questions or comments on these topics. Feel free to contact me with other questions or concerns.
——Elle Patout Congressional Affairs and Public Relations Manager
OFFICIAL ADVOCACY COMMENTS
6/12/15-Comment Letter to FCC: Expanding the Economic and Innovation Opportunities of Spectrum Through Incentive Auctions
NEW ADVOCACY RELEASES
Small Business Market Update, June 2015
The Leahy-Smith America Invents Act: A Preliminary Examination of Its Impact on Small Business
OPEN COMMENT PERIODS
Fair Pay and Safe Workplaces
On May 28, 2015, the Federal Acquisition Regulation (FAR) Council published a proposed rule to implement the executive order, “Fair Pay and Safe Workplaces.”
The Executive Order (E.O.) requires that:
· for contracts over $500,000 prospective and existing contractors disclose whether under certain labor laws there has been any administrative merits determination, civil judgment, or arbitral award or decision rendered against them during the preceding three-year period.
· agencies include clauses in their contracts that require similar disclosures by certain subcontractors so their prime contractors can also consider labor violations when determining whether there have been any similar violations by prospective or existing subcontractors.
· processes be established to assist contractors and subcontractors to come into compliance with labor laws.
· contractors and subcontractors provide individuals with information each pay period regarding how they are paid and give notice to those workers whom they treat as independent contractors.
· The E.O. also addresses arbitration of employee claims.
Submit Comments here by July 27, 2015.
Advocacy contact: Major Clark at 202.205.6533
DHS and DOL Issue Changes to H-2B Visa Program
The Department of Homeland Security (DHS) and the Department of Labor (DOL) are jointly issuing an interim final rule regarding program changes to the H-2B visa program, which allows employers to hire temporary non-agricultural guest workers.
The rule includes a new employer registration process, increased recruitment and oversight, requirements for guaranteed pay, additional fees and similar payment for corresponding U.S. workers.
These agencies jointly issued this rule due to recent court decisions that found that DOL lacked authority under the Immigration and Nationality Act to independently issue legislative rules governing the H-2B program.
Submit comments here by June 29, 2015.
Advocacy contact: Janis Reyes at 202.205.6533
DOL Issues Proposal Expanding the Types of Retirement Advice Covered by Fiduciary Protections
On April 14, 2015, the Employee Benefits Security Administration (EBSA) of the Department of Labor (DOL) issued a proposed rule intended to protect investors from hidden fees in retirement investment advice. To accomplish this, the proposed rule would expand the scope of the definition regarding when a person providing retirement advice becomes a “fiduciary” under the Employee Retirement Income Security Act (ERISA). The proposed rule would subject more types of retirement advice to the fiduciary requirements of ERISA. The proposal includes several exemptions from the requirements associated with the fiduciary standard that DOL hopes will help streamline compliance.
Submit comments here by July 6, 2015.
Advocacy contact: Dillon Taylor at 202.401.9787
SEC Issues Proposal to Amend Investment Adviser Registration
On June 17, 2015, the Securities and Exchange Commission (SEC) issued a proposed rule that would revise the paperwork requirements for investment advisers who are registering with the SEC and with their state. Specifically, the SEC is proposing amendments to Form ADV that are designed to provide additional information regarding advisers, including information about their separately managed account business. The proposal would also incorporate a method for private fund adviser entities operating a single advisory business to register using a single Form ADV. Additionally, the proposal would make clarifying, technical and other amendments to certain Form ADV items and instructions.
Submit comments here by August 11, 2015.
Advocacy contact: Dillon Taylor at 202.401.9787
Office of Advocacy
U.S. Small Business Administration
Congressional Affairs and Public Relations Manager
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