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Small Business ALERTS, Office of Advocacy, July 20, 2015

Monday, July 20, 2015  
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July 20, 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

NEW COMMENT LETTERS

 

Comment letter to Department of Labor- Definition of the Term "Fiduciary"; Conflict of Interest Rule, Retirement Investment Advice

 

NEW ADVOCACY RELEASES

 

Quick-Facts- Department of Labor (DOL) Overtime Proposal: Changes to the Fair Labor Standards Act (FLSA)

 

OPEN COMMENT PERIODS

 

Fair Pay and Safe Workplaces

On May 28, 2015,  the Federal Acquisition Regulation (FAR) Council and Department of Labor published a proposed rule and Guidance 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

 

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

 

Department of Labor Issues Overtime Regulations

The Department of Labor’s Wage and Hour Division (DOL) published its proposed rule that amends the regulations under the Fair Labor Standards Act (FLSA) governing the “white collar” exemption from overtime pay for executive, administrative and professional employees.

The proposed rule from DOL:

·         would double the salary threshold for employees who are eligible to receive overtime pay, from $23,660 to $50,440. This salary threshold will also be updated every year in the Federal Register.

·         does not propose regulatory changes to the duties tests, which require employees to perform certain primary duties to qualify for an overtime exemption.  However, DOL is seeking feedback on whether these duties tests should be revised.

DOL estimates that this rule would:

·         directly affect 4.6 million workers in the U.S, and total direct employer costs for Year 1 are estimated to equal $592.7 million dollars. 

·         cost each small business, on average depending on the number of workers covered by the regulation, $100 to $600 in direct costs and $320 to $2,700 in additional payroll costs to employees in the first year after the promulgation of the proposed rule.

·         cause each small business to spend one hour of time for regulatory familiarization; one hour per each affected worker in adjustment costs; and five minutes per week scheduling and monitoring each worker expected to be classified as overtime eligible as a result of the proposed rule.

Advocacy is seeking feedback on the number and types of small businesses affected by this rulemaking, the compliance costs of this rule to these small businesses, and any significant regulatory alternatives that may minimize the impacts of this rule.

Submit comments here by September 4, 2015.   

Advocacy contact: Janis Reyes at 202-205-6533

 

EPA Proposes Emission Requirements for New Medium- and Heavy-Duty Vehicles

On July 13, 2015, the Environmental Protection Agency (EPA) and the National Highway Transportation Safety Administration (NHTSA) issued a joint proposed rule, “Greenhouse Gas Emissions and Fuel Efficiency Standards for Medium- and Heavy-Duty Engines and Vehicles-Phase 2.”  This proposed rule would further tighten greenhouse gas emission requirements for new Medium-Duty and Heavy-Duty vehicles.  It would also cover new trailers for the first time. The Office of Advocacy will host an Environmental Roundtable on this rule on July 29, 2015.

Submit comments here by September 11, 2015.

Advocacy contact: David Rostker at (202) 205-6966

 

ADVOCACY ROUNDTABLES

 

Roundtable on the FAR Council’s Fair Pay Rule

On Wednesday, July 22, 2015, Advocacy will host a Small Business Roundtable to discuss the FAR Council’s “Fair Pay and Safe Workplaces” regulation and the Department of Labor’s Fair Pay Guidance Document.  On May 28, 2015, the FAR Council and the Department of Labor released a proposed rule and guidance document on Fair Pay. The Office of Advocacy is interested in getting input from small business owners on the impact of this proposed regulation and guidance document. Representatives from the FAR Council and the Department of Labor (DOL) will provide a description of this proposed regulation and proposed policy guidance document.

Location: Washington Marriott at Metro Center, 775 12th Street, NW, Washington, DC 20005

Date & Time: Wednesday, July 22, 2015, 12-2 PM (EST)

RSVP: Major Clark

 

Roundtable on DOL’s Overtime Regulations

On Wednesday, July 22, 2015, Advocacy will host a Small Business Roundtable to discuss the Department of Labor’s Overtime Regulations. Representatives from the Department of Labor (DOL) will provide a brief description of this new regulation and answer questions. After DOL’s presentation, Advocacy will be seeking feedback on the number and types of small businesses likely to be affected by this rulemaking, the compliance costs of this rule to these small businesses, and any significant regulatory alternatives that may minimize the impacts of this rule.

Location: Washington Marriott at Metro Center, 775 12th Street, NW, Washington, DC 20005

Date & Time: Wednesday, July 22, 2015, 2-4 PM (EST)

RSVP: Janis Reyes

 

Small Business Environmental Roundtable

On Wednesday, July 29, 2015, Advocacy will host a Small Business Roundtable to discuss: Greenhouse Gas Emissions and Fuel Efficiency Standards for Medium- and Heavy-Duty Engines and Vehicles; and Significant New Alternative Program Final Rule- Reduction of Use of Hydrofluorocarbons (HFCs). Representatives from EPA, North American Association of Food Equipment Manufactures (NAFEM), and National Marine Manufacturers Association will present on the topics. 

Location: Washington Marriott at Metro Center, 775 12th Street, NW, Washington, DC 20005

Date & Time: Wednesday, July 29, 2015, 10 AM-12 PM (EST)

RSVP: Tabby Waqar

CONTACT

Elle Patout
Office of Advocacy
U.S. Small Business Administration
Congressional Affairs and Public Relations Manager
elle.patout@sba.gov
202-205-6941

LEARN MORE

Visit the Office of Advocacy Website and Small Business Regulatory Alerts

Check out Advocacy’s Blog

Join us on Facebook and Twitter

Subscribe to Advocacy’s Email Lists for:
Advocacy’s News Releases and monthly newsletter, The Small Business Advocate,
Advocacy’s Small Business Research and Statistics and

Advocacy’s Regulatory Communications

 


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