Category: Regulation

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HIGH EXPECTATIONS: WHAT RESCHEDULING MARIJUANA COULD MEAN FOR THE CANNABIS INDUSTRY

A Note by Elsie Layman

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On January 12, 2024, the U.S. Department of Health and Human Services (HHS) released a review addressed to the U.S. Department of Justice’s Drug Enforcement Administration (DEA) that recommended marijuana (Cannabis sativa L.) be rescheduled from Schedule I to Schedule III of the Controlled Substance Act.[1] The unredacted recommendation was released as a result of the effort of Matthew Zorn, who filed a Freedom of Information Act complaint against HHS in September 2023.[2] Zorn announced the recommendation would be released on January 11, 2024 on his blog, writing: “I win . . .  Impossible just takes a few weeks.”[3] The release of this recommendation is a win not only for Zorn and people who enjoy the drug recreationally, but for the U.S. cannabis market, which was valued at $13.2 billion in 2022.[4]

[1]… Read the rest

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A BITTER PILL TO SWALLOW: AMERICA’S UNREGULATED SUPPLEMENT INDUSTRY AND THE COST TO CONSUMERS

A Note by Jessica Bury

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In 2021, the global dietary supplement market was worth USD 149 billion, and was projected to grow to USD 240 billion by 2028.[1] The U.S. alone was responsible for approximately thirty-two percent of the market.[2] This growth is attributable to a variety of societal changes including increased concerns over healthcare costs, skin health, shifts in lifestyle choices, celebrity endorsements, fears about immune system health resulting from COVID-19, greater self-care awareness, and sports and fitness trends.[3] Although supplement use within American society is rampant, with 57.6% of adults aged twenty and over consuming at least one dietary supplement within the past month, few people understand how they are produced, manufactured, and regulated.[4] A 2019 survey indicated that a majority of Americans overestimate the FDA’s role in regulating supplements, assuming that the FDA tests supplements before sale … Read the rest

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FROM GUIDELINES TO GRIDLOCK: THE CHALLENGES FACING DOJ AND FTC’S NEW MERGER GUIDELINES AND THE PATH FORWARD

A Note by James Zhang

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The year of 2023 has seen the lowest level of M&A activity in over a decade, since the period after the 2008 global financial crisis.[1] Inflation, rising interest rates and fear of a recession halved Global M&A deal values to $2.5 trillion USD from their peak of more than five trillion dollars in 2021.[2] In the midst of such difficult situations, increasing regulation scrutiny has cast yet another shadow over the flickering future of the M&A market.

On December 18, 2023, the U.S. Department of Justice (DOJ) and the Federal Trade Commission (FTC) released the 2023 Merger Guidelines.[3] This is the final version after gathering public feedback from the draft version released in July 2023.[4] This guideline marks another step forward of the Biden administration’s aggressive and interventionalist antitrust policy.[5] It not only lowers … Read the rest

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TELEMENTAL HEALTH TAKES CENTER STAGE: HOW PANDEMIC-ERA WAIVERS OPENED THE DOOR TO BETTER MENTAL HEALTH CARE

A Note by Jabari Turner

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Millions of Americans were stuck in their houses during the COVID-19 pandemic.[1] The rising death tolls, financial insecurity, and growing uncertainty increased anxiety, depression, and a surge in emergency department visits for mental health conditions.[2] Federal and state-level licensing alongside permit waivers allowed many Americans needing mental health care, access to telemental health services.[3] As a result, Americans had more options in and out-of-state that were unavailable before the pandemic.[4] During the pandemic, federal agencies waived previous telehealth restrictions.[5] Moreover, in most states, through executive orders, out-of-state mental health providers in good standing were permitted to provide telemental services to patients.[6]

Telehealth gives patients and providers better access, options, and overall healthcare treatment and management without needing to be physically present.[7] In addition, it gives providers more continuity of care, and better … Read the rest

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BRINGING ACCOUNTING STANDARDS INTO THE MODERN ERA: ANALYZING THE FINANCIAL ACCOUNTING STANDARDS BOARD’S PROPOSED DISCLOSURE REQUIREMENTS FOR DIGITAL ASSETS

A Note by Zack Stutler

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Technology’s growth over the past decade has permeated all aspects of life.[1] Financial markets have not been isolated from this increasing digitization.[2] More specifically, the introduction of digital assets (crypto-currency, non-fungible tokens, etc.) has taken the world by storm.[3] With the introduction of new assets comes the need for new regulations. While consumer regulations are important, so too are regulations on companies and how they report their ownership of digital assets.[4]

Regulations on companies are important because they increase the transparency of companies as well as look out for the interest of investors and the general public.[5] Without government intervention and regulations, corporations would logically operate in profit-maximizing ways that are self-serving.[6] This self-serving nature often lacks an eye for public interest and may promote a lack of disclosure which is not optimal … Read the rest

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IS STARBUCKS A BANK? HOW THE BILLIONS CONSUMERS UPLOAD ONTO STARBUCKS CARDS SHOULD BE REGULATED

A Note by Mackenzie Morgan

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As technology has continued to advance, so have company reward programs. In 2021, Starbucks customers loaded $11 billion onto mobile Starbucks Cards,[1] accounting for almost half of all Starbucks sales.[2] The amount of money consumers have loaded onto their mobile applications to prepay for their coffee orders has allowed Starbucks to overtake most banks in terms of assets.[3] “85% of US banks have less than $1 billion total in assets, illustrating the major player Starbucks has become in this space.”[4] Should the billions of dollars that consumers have uploaded onto Starbucks Cards be regulated by the federal government?

… Read the rest
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ROBOTS DON’T TAKE BATHROOM BREAKS: ANALYZING THE APPLICABILITY OF CALIFORNIA’S A.B. 701 LEGISLATION IN ILLINOIS

A Note by Kevin Estes

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On September 22, 2021, California Governor Gavin Newsom signed into law A.B. 701[1] intending to further protect the health and safety of warehouse workers in the state of California.[2] Authored by California Assemblywoman Lorena Gonzalez, A.B. 701“strengthen[s] warehouse workers’ rights against arbitrary and abusive work quota systems by requiring companies to disclose work quotas to employees and state agencies, and establish statewide standards to minimize on-the-job injuries for employees working under strict quotas.”[3] Although the bill places restrictions on all single warehouse distribution center with 100 or more employees or 1,000 or more employees at one or more warehouse distribution centers in the state,[4] the bill specifically targets Amazon Inc. and their “extreme high-churn model, continually replacing workers in order to sustain dangerous and grueling work pace demands.”[5] To achieve its purpose, A.B. 701 … Read the rest

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Net Neutrality: Individual Privacy at Risk

By Jason Shultz

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Internet Service Providers (ISPs) have gained power to limit people’s access to the internet. In March 2017, Congress reversed regulations imposed on ISPs under the Obama Administration. These regulations protected internet consumers from having their access to the internet restricted by ISPs. This note examines the history of net neutrality and why removing regulations on ISPs is dangerous for internet consumers. People are now at risk of having their data sold and being limited in which websites are available through their ISP.… Read the rest

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Cosmetics Regulations: Loopholes in the FDA

By Claire Chung

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Cosmetic products in U.S. are very loosely regulated primarily because of the lack of enforcement mechanisms of the regulatory agency. This Note highlights the loopholes in FDA regulation and compares the regulatory scheme in U.S. and EC. There have been efforts both on the federal and state legislation such as introducing Personal Care Products Safety Act Proposal, enacting the California Safe Cosmetics Act of 2005 and Voluntary Cosmetic Registration Program. This Note proposes that the U.S. should pass the Personal Care Products Safety Act to enhance the current regulatory scheme in the U.S., which will make it more aligned with EC policies in cosmetics safety.… Read the rest

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Driving Solo: Solutions to the Current Patchwork of Legislation Concerning Automated Vehicles

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By Bryan Boccelli

This Note argues that states across the nation should expand upon and in some cases begin to introduce legislation in regards to self-driving vehicles. Although there are currently a handful of states that already have some form of regulation in effect regarding self-driving vehicles, the current patchwork of legislation is not very conducive for companies and entrepreneurs that wish to enter this market. This Note looks at a gradient system of automation as the basis for legislation that could potentially lead to greater investment from car manufactures in this area of technology. If adopted, a gradient system would mean that the automated vehicle would be subject to specific regulations based on a car’s level of automation. The more autonomous the car is, the more highly regulated it will become.… Read the rest