The new oversight provisions were proposed and published for public comment in the Federal Register on February 8, 2024.
After careful review and consideration of the entire record, including 10 comments submitted by interested parties, the Commission has adopted, with a few modifications, the proposed new oversight rule to promote transparency and accountability in the Authority’s operations.
Among other things, the new rule provisions require the Authority to: 1) submit annual and mid-year reports to the FTC; 2) develop and publish a multi-year strategic plan; 3) manage risks to prevent conflicts of interest, waste, fraud, embezzlement, and abuse; and 4) follow other best practices specified in the new rule.
The Commission voted 5-0 to approve the final new rule.