Editor’s Note:

Don’t forget to tune in at 12pm Eastern on Thursday, November 17 for the public engagement session with the White House Office of Information and Regulatory Affairs (OIRA). The session will focus on ‘Opening the Federal Regulatory Process to More Voices.’

Before you go, check out this 2019 commentary from the Regulatory Studies Center for a quick primer on engaging with the OIRA team!

OIRA Wants You…To Schedule Meetings Online

Late breaking: Senate Homeland Security and Governmental Affairs Committee votes to approve for full Senate consideration the nomination of Richard Revesz for new OIRA Administrator.

Agency Rulemaking Highlights

Supplemental Proposal to Reduce Methane from Oil and Natural Gas Operations

The Environmental Protection Agency (EPA) is proposing to update, strengthen and expand its November 2021 proposal for reducing methane emissions from new and existing oil and gas operations. This supplemental proposal also includes a new approach to estimating the social cost of carbon (SCC) for a sensitivity case in its regulatory analysis. Comments due February 13, 2023.

Outsourcing by Investment Advisers

The Securities and Exchange Commission (SEC) is proposing a new rule to require registered investment advisers to conduct due diligence prior to outsourcing functions to a service provider. The rule would further require advisers to periodically monitor the performance and reassess the retention of the service provider to reasonably determine that it is appropriate to continue to outsource those services or functions to that service provider. SEC also seeks to collect census-type information about the service providers defined in the proposed rule. Comments due December 27.

Definitions of Broker and Bona Fide Agents

The Federal Motor Carrier Safety Administration (FMCSA) issued interim guidance about its interpretation of the definitions of “broker” and “bona fide agents” as it relates to all brokers of transportation by motor vehicle. FMCSA is taking this action to better define the terms in response to a mandate in the Infrastructure Investment and Jobs Act (IIJA). Effective November 16. 

Federal Acquisition Regulation & Emissions Disclosure

The Department of Defense (DOD), the General Services Administration (GSA), and the National Aeronautics and Space Administration (NASA) are proposing to amend the Federal Acquisition Regulation (FAR) to implement a requirement to ensure certain federal contractors disclose their greenhouse gas emissions and climate-related financial risk and set science-based targets to reduce their greenhouse gas emissions. Comments due January 13, 2023. 

Inspections for Passenger-Carrier Vehicles

The FMCSA confirmed its May 1, 2017 decision to withdraw its April 27, 2016, advance notice of proposed rulemaking (ANPRM) concerning the establishment of requirements for states to implement annual inspection programs for commercial motor vehicles (CMVs) designed or used to transport passengers. Pursuant to the Infrastructure Investment and Jobs Act, FMCSA solicited additional comments on the 2016 ANPRM for 30 days, ending June 9, 2022. After reviewing the additional public comments received, FMCSA has determined there is not enough data and information available to support moving forward with a rulemaking action.

The WSJ Editorial Board: The FTX Crypto Fiasco

Brian Armstrong: Crypto Markets Need Regulation to Avoid More Washouts Like FTX, Says Coinbase CEO

Andrea Tinianow: A Path to Crypto Regulation: New Scholarship Sheds Light During Crypto Winter, Forbes

Ben Baldanza:The FAA Limits Seats On Airplanes — Seat Sizes Don’t Need Regulation

Roger Valdez: Report Affirms More Housing Means Lower Rents And Prices

The WSJ Editorial Board: Freeing EVs From the Dealer Cartel

Governance & Politics

• Biden Agenda Depends on Flood of Regulations If GOP Wins Control, Bloomberg
• The Regulatory Process Needs a Boost in Public Participation, the Biden Administration Says, Government Executive
• White House to Nominate Martin Gruenberg for New Term as FDIC Chairman, Wall Street Journal
• Hillicon Valley — How Expanded GOP Power will Shift Cyber Agenda, The Hill
• Kansas Refuses to Increase Legislature's Power over Agencies, Associated Press
• Committee Sets Vote on White House Regulations Nominee, Politico
• Meet the Newest Member of a Key Council Influencing How your Agency Operates, Federal News Network
• An Update on Doings of a Crucial Federal Agency almost no one Ever Heard of, Federal News Network
• A Federal Employee Group is Again Urging OPM to Ban All Use of Salary History in the Federal Hiring Process, Government Executive
• Nothing’s Decided Yet, But We Might Be Headed to a New Era of Divided Government, Government Executive

Financial Markets & Housing

• FTX Collapse Sets Back Crypto’s Hopes for Light Regulatory Touch, Wall Street Journal
• Fed's Top Financial Regulator Urges 'Guardrails' for Crypto, Washington Post
• Crypto Regulation Sees Plenty of Legislative Activity, Forbes
• Yellen Says FTX Debacle Shows Need for Crypto Regulation, Bloomberg
• US Treasury Secretary Yellen Says the Crypto Market Needs 'Very Careful Regulation' amid FTX's Dramatic Collapse, Markets Insider
• Binance Pledges to Create Crypto Industry Recovery Fund, Calls for Regulation, Reuters
• Fed's Brainard on Rates Path, Crypto Regulation, Ethics, Bloomberg
• Crypto Survey Finds Majority of Investors Welcome Regulation, Bloomberg
• What Happened to FTX? Here’s What to Know., New York Times
• FTX Investigating Possible Hack Hours After Bankruptcy Filing, New York Times
• Fed’s Banking Regulator: Crypto Turmoil Represents Red Flag to Financial System, Wall Street Journal
• Why the FTX Collapse is Turning Up the Heat on Congress, The Hill
• Investors Face Unclear Outcome in Midterms, with Questions over Spending, Regulation, Reuters
• Regulators Look to Lessen Treasury Market Reliance on Big Bank Dealers, Wall Street Journal
• More Mixed Signals on the Housing Economy, Forbes

Energy & Environment

• EPA to Regulate Methane Leaks from Oil and Gas to Fight Climate Change, Washington Post
• Here's What Happened on Friday at the UN's COP27 Climate Talks, NPR
• US, China to Resume Climate Collaboration, The Hill
• Even the Regulated Agree EPA Needs More Help, Real Clear Policy
• US Offshore Wind Energy Industry Faces Blowback from Locals, Washington Post
• EPA Urged to Regulate Plastic Film in Laundry Detergent Pods and Sheets, Forbes
• Fishing Regulator Rejects Lifting Ban on Female Crab Harvest, New York Times

Health & Safety

• FDA 2.0: Initial Upgrade Complete — Federal Legislative Action is Necessary to Regulate Dr. Robot, Reuters
• Opening Pandora's Box: What Rescheduling Cannabis Would Mean for the Industry, Reuters
• What Happens Now that Colorado Voters Decriminalized Magic Mushrooms, Axios

Business & Technology

• Twitter’s Hectic Overhaul Puts World’s Regulators on Alert, Bloomberg
• The Tech CEO Spending Millions to Stop Elon Musk, Washington Post
• German Antitrust Watchdog Widens Amazon Probe Under New Regulation, Reuters
• Privacy Regulations Expand Beyond Ad-Tech Industry — Employers, are You Ready for 2023?, Forbes
• Google Agrees to $392 Million Privacy Settlement With 40 States, New York Times
• What One Importer’s Legal Fight Says About the Power of Cargo Giants, New York Times

Transportation & Infrastructure

• Regulator Accuses Airlines of ‘Extreme’ Delays Refunding Fliers, Fines Six Carriers, Wall Street Journal
• Experts: Dallas Air Show Crash may Lead to More Safety Rules, Associated Press