For Release
FTC Approves Final New HISA Oversight Rule
Changes concern non-budget aspects of the Authority’s operations
The Â鶹´«Ã½ Trade Commission has approved publication of a Â鶹´«Ã½ Register notice announcing a final new oversight rule pertaining to non-budget aspects of the operations of the Horseracing Integrity and Safety Authority (Authority).
The new oversight provisions were proposed and published for public comment in the Â鶹´«Ã½ 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.
The Â鶹´«Ã½ Trade Commission works to promote competition, and protect and educate consumers. The FTC will never demand money, make threats, tell you to transfer money, or promise you a prize. You can and report scams, fraud, and bad business practices online at . Follow the FTC on social media, read our blogs and subscribe to press releases for the latest FTC news and resources.