Proposed UIGEA regulations to come out within a week

[TheEngineer]

I hear the proposed UIGEA regs will be released for public comment within a week. My understanding is that there will be a 90 day comment period, followed by a four-month period for evaluation and incorporation of the comments.

[HelloandGoodby90]

Let's do all we can, to render these regulations useless. It would be wonderful to see some sort of campaign against them.

[TheEngineer]

[ QUOTE ]
Let's do all we can, to render these regulations useless. It would be wonderful to see some sort of campaign against them.

[/ QUOTE ]

We've been campaigning in an organized fashion against the regs for months now. I hope we had some success. We won't know until the proposal is available for review.

The next step will be for us to go to the comment website and make statements for the public record. Hopefully we'll all participate.

[JPFisher55]

I'll believe these rumors when I see the regs. The regs will hurt DOJ in the iMEGA case and lead to more litigation.

[craig1120]

Hi I've been following these discussions sparingly but was this announcement expected or is this pretty bad news for us?

[TheEngineer]

[ QUOTE ]
I'll believe these rumors when I see the regs. The regs will hurt DOJ in the iMEGA case and lead to more litigation.

[/ QUOTE ]

If it were a rumor, I'd have posted "I heard a rumor that...."

[TheEngineer]

[ QUOTE ]
Hi I've been following these discussions sparingly but was this announcement expected or is this pretty bad news for us?

[/ QUOTE ]

It was expected. Actually, the regs are significantly behind schedule.

[Legislurker]

I wonder if the judge is going to take them into consideration, or extend the case for them, or what.

[TheEngineer]

[ QUOTE ]
The regs will hurt DOJ in the iMEGA case and lead to more litigation.


[/ QUOTE ]

It's not like the DOJ will never issue the regs out of fear of iMEGA. After all, iMEGA would be able to refile the case whenever the regs finally came out.

[HelloandGoodby90]

TE, do you have any specifics on how the comment period works?

[TheEngineer]

[ QUOTE ]
I wonder if the judge is going to take them into consideration, or extend the case for them, or what.

[/ QUOTE ]

It could take around twelve months to issue the official regs, so it may be far enough off to not be an issue in the case. I guess we'll see how iMEGA reacts to the proposed version submitted for comment.

[TheEngineer]

Also, iMEGA has hired PR firm Ogilvy Public Relations Worldwide to help with public outreach.

www.prweek.com/us/news/article/740668/Online-gambling-lobby-hires-Ogilvy-comms (http://www.prweek.com/us/news/article/740668/Online-gambling-lobby-hires-Ogilvy-comms)

[TheEngineer]

[ QUOTE ]
TE, do you have any specifics on how the comment period works?

[/ QUOTE ]

Sure. There will be a window of 90 days to post comments on this proposed rule. It will likely be posted at the Federal Reserve site. To see how it works, check out the following link for the Truth in Lending proposed rules:

www.federalreserve.gov/generalinfo/foia/ElectronicCommentForm.cfm?doc_id=R-1286&doc_ver=1&name=Regulation%20Z%20-%20Truth%20in%20Lending&date=20070523a (http://www.federalreserve.gov/generalinfo/foia/ElectronicCommentForm.cfm?doc_id=R-1286&doc_ver=1&name=Regulation%20Z%20-%20Truth%20in%20Lending&date=20070523a)

It is also possible to email comments. The reg proposal will contain instructions for that.

[Berge20]

Do we really need two threads for this?

Other thread (http://forumserver.twoplustwo.com/showflat.php?Cat=0&Board=law&Number=12257081&page= 0&fpart=1)