Video & Transcript : 'regulatory conformity' :

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FL

Florida 2026 Regular Session

Senate in Session Feb 20th, 2026

Florida Senate Floor Meeting

Transcript Highlights:
  • President, we have a very strong budget for the environmental and regulatory agencies while making sure
  • Members, SB 2512 is the judicial certification conforming bill.
  • SB 2514 makes various changes to education statutes to conform with the proposed budget.
  • This bill makes various changes in the education statutes to conform to the proposed budget.
  • This bill makes various changes in the education statutes to conform to the proposed budget.
Summary: The Senate began with prayer and the Pledge of Allegiance, then moved into floor consideration of the 2026-2027 budget. Appropriations Chair Hooper presented Senate Bill 2500, describing a $115 billion budget that reduces overall spending from the prior year, maintains reserves, and includes a 3% pay raise for state employees and 5% raises for state law enforcement, firefighters, correctional officers, and park rangers. Committee chairs then outlined major spending in their areas, including K-12 education, higher education, health and human services, criminal and civil justice, transportation/tourism/economic development, and environmental and agricultural programs. Highlights included increased funding for school scholarships and safety, workforce and university programs, Medicaid and child welfare, corrections operations, affordable housing, rural communities, Everglades and water quality projects, and infrastructure. Members then asked detailed questions about several budget items. Senators sought clarification on the Emergency Management Trust Fund, arts and cultural grants, Florida Forever land acquisition versus conservation easements, teacher salaries, charter school capital outlay funding, EASE grants, New College funding, DOC inmate counts and reimbursement, lottery staffing, concealed weapons licensing positions, election security funding, iBudget waiver support, ADAP funding, Medicaid hospital rate reductions, and scholarship and enrollment supplements in K-12 education. Chairs explained that some reductions reflected technical shifts or right-sizing, that some funds were being moved below the line for better tracking, and that several items—such as ADAP and corrections operations—would likely remain conference issues with the House. After questions, the Senate substituted House bills for the budget and implementing measures and adopted amendments placing the Senate language onto the House vehicles to prepare for conference. The chamber passed the budget-related bills and several conforming measures, including bills on retirement, fuel taxes, the state agency law enforcement radio system, court trust funds, judgeships, and K-12 and higher education conforming changes. Votes on the major bills were overwhelmingly unanimous or near-unanimous, and the Senate repeatedly voted to accede to the House’s request for conference on the substituted bills.
AZ

Arizona 2026 Regular Session

02/03/2026 - Senate Floor Session

Arizona Senate Floor Meeting

Transcript Highlights:
  • Regulatory Affairs Government efficiency.
  • Regulatory Affairs of Government efficiency. SB 1571, school district budgets, two years.
  • SB 1638, conformity to Internal Revenue Code deductions. Finance.
  • Regulatory Affairs and Government Efficiency at 9 a.m. in the Senate Hearing Room 109.
  • Regulatory Affairs and Government Efficiency, 9 a.m., Senate Hearing Room 109.
Summary: The Senate opened with prayer and the Pledge of Allegiance, confirmed attendance, approved the journal, and welcomed several guests in the gallery, including a veteran and House candidate, a former legislative district chair, and two district guests attending in support of future highway-naming testimony. The chamber also extended well wishes to Senator Farnsworth’s wife, who was reported hospitalized, and announced a temporary committee replacement appointment for Senator Fernandez on the Education Committee. The bulk of the meeting consisted of reading House messages and introducing numerous bills for first reading and committee referral, covering a wide range of topics including transportation, taxation, education, health care, housing, water, public safety, elections, immigration, behavioral health, and appropriations. The Senate also placed many measures on second reading, including bills on school budgets, civics instruction, campaign finance, voter registration, housing, tax deductions, and public safety-related issues. Committee meeting announcements were made for the following day. The chamber then considered a gubernatorial nomination and, on a voice vote, confirmed James McCain to the Arizona Board of Regents for a term ending January 19, 2032. After a recess and return, additional bills were introduced and referred, including measures on corporal punishment in schools, homeless shelter funding, child care waiting lists, community gardens, solar energy requirements, insurance claims assistance, firearms regulation, and crime victim notification funding. The Senate adjourned at the end of the session until Wednesday, February 4, 2026, at 1:15 p.m.
OK

Oklahoma 2026 Regular Session

Agriculture and Wildlife Feb 23rd, 2026

Agriculture and Wildlife

Transcript Highlights:
  • By amending the title to conform, submitted by Senator Murdoch. Mr.
  • They've been taking money from chickens on their regulatory fees for food safety.
  • It doesn't allow us regulatory authority over anything else. Follow-up: Thank you.
  • Have you considered maybe expanding this to some other species of regulatory on guides?
  • As we are moving towards this regulatory framework, I was informed that snipe is a real bird.
Summary: The committee first considered Senate Bill 2122, which would give the Oklahoma Department of Agriculture, Food and Forestry more flexibility to allow out-of-state poultry processing when in-state processing is unavailable. Supporters said the bill would help poultry producers who face short processing windows and lack sufficient in-state capacity, while opponents raised questions about food safety and environmental standards. The bill passed 13-0. The committee then took up Senate Bill 330, as amended, to help the Oklahoma State Veterinary School Committee study and support the state’s growing elk herd in western Oklahoma. An amendment updated dates and removed a fiscal section, and the bill passed 11-2. Senate Bill 271 followed, updating dairy regulation authority from milk from cows and goats to milk from all hoofed mammals and increasing the milk production fee from one cent to two cents per hundredweight. The Department of Agriculture said the change was needed to preserve Grade A status, maintain interstate milk shipping, and cover program costs without subsidizing the dairy program from poultry fees. After extensive debate over fees, federal pressure, raw milk safety, and state sovereignty, the bill passed 8-7. Later, the committee approved Senate Bill 2169, which creates a framework for managing invasive woody species and cedar removal on state lands to improve forage, reduce wildfire risk, conserve water, and increase school land revenues; it passed 12-1. Senate Bill 269, addressing baiting in migratory bird hunting and related penalties for guides, also passed 12-1. Senate Bill 2095, setting fees and fines for hunting guides and outfitters, passed 12-1 after questions about misdemeanor versus felony penalties. Finally, Senate Bill 2157, creating a Southeast Scenic Rivers framework, passed 8-5 after testimony that it would protect water resources and avoid federal scenic river designation, while critics argued it could expand government and affect property and agricultural rights.
MN

Minnesota 2025-2026 Regular Session

Committee on Commerce and Consumer Protection - 03/25/25

Commerce and Consumer Protection

Transcript Highlights:
  • The language in this would adhere to what federal conformity on this matter.
  • So with the A2 amendment, if this is adopted, is it compliant with federal conformity?
  • And is there so this would accomplish federal conformity if the A2 is adopted?
  • The actuarial company, Risk and Regulatory Consulting, estimated that Medicare Supplement plans would
  • </c> next piece would be a federal Conformity next piece would be a federal Conformity issue<01:12:08.199
TX

Texas 89th Regular

Land & Resource Management Apr 17th, 2025

Land & Resource Management

Transcript Highlights:
  • Members, this bill removes regulatory barriers to the installation of HUD-code manufactured homes.
  • Members, this bill removes regulatory barriers to the installation of HUD-code manufactured homes.
  • The bill conforms to all aspects of the agreed-upon template for creating these MUDs.
  • has consented to the creation of the district through the adoption of a resolution, and the bill conforms
  • And as we look at Chapter 711, that was where... to make a decision for conformity and unity across the
AZ

Arizona 2026 Regular Session

02/03/2026 - Senate Floor Session

Arizona Senate Floor Meeting

Transcript Highlights:
  • Regulatory Affairs, Government Efficiency. SB 1571, school district budgets, two years. Government.
  • Regulatory Affairs Government efficiency.
  • Regulatory Affairs of Government efficiency. SB 1571, school district budgets, two years.
  • SB 1638, conformity, Internal Revenue Code deductions, Finance.
  • Regulatory Affairs and Government Efficiency will meet at 9:00 a.m. in the S.H.R.
MN

Minnesota 2025-2026 Regular Session

House Workforce, Labor, and Economic Development Finance and Policy Committee 3/12/26

Workforce, Labor, and Economic Development Finance and Policy

Transcript Highlights:
  • So on the legislative priorities here, um, you talk about taxes and the conforming to the pro-growth
  • And so when regulatory climate here.
  • regulatory and tax environment<00:53:13.040><c> does</c><00:53:13.200><c> have</c><00:53:13.359><c>
  • </c><00:54:37.119><c> to</c> about taxes and the the conforming to about taxes and the the conforming
  • He guessed Chair Pinto remembered the conversation about the regulatory environment in Minnesota.
KY
Transcript Highlights:
  • discharge its regulatory duties relating to<00:39:29.480><c> applications</c><00:39:30.320><c> for</
  • to how the the KLEP dollars were conform to how the the KLEP dollars were spent<00:56:19.320><c> in<
  • </c><00:56:26.480><c> to</c><00:56:26.600><c> each</c> listed in the language conforms to each listed
  • in the language conforms to each chamber's<00:56:27.200><c> policy</c><00:56:27.640><c> decisions.
  • </c> part two, and this language conforms part two, and this language conforms with<01:15:31.200><c>
Summary: The Free Conference Committee on the 2026 General Assembly budget met to reconcile differences between the House and Senate versions of House Bill 500. Leaders opened by thanking the other chamber’s work, asking members to turn microphones on and off to avoid feedback, and stressing the need to clearly note decision points so both chambers record the same actions. Staff then walked through the bill page by page, explaining that the committee was comparing only House and Senate differences, not the governor’s proposed budget. The discussion covered a wide range of appropriations and language items, including next generation non-911 services, school safety reporting tools, restored funding for brain injury, epilepsy, veteran service, homeless veterans, and rocket docket programs, debt service changes, rural infrastructure, disaster aid caps, Attorney General and Medicaid fraud funding, agriculture and county fair grants, auditor and pension-related appropriations, school facilities and SEEK funding, and numerous education programs. Members also discussed charter-related funding such as Star Academy, Dolly Parton Imagination Library, school resource officers, school-based mental health providers, AP/IB exams, Governor’s Scholars and Entrepreneurs, and several pilot or initiative programs in economic development, energy, and labor. Several items were described as technical corrections or restorations of language and funding, while others reflected differences in amounts or how funds would be distributed. There were several questions and comments from members about wording such as “implement and carry out,” the absence of the governor’s budget from the comparison document, and whether SEEK funding should be tied to teacher raises. The chair and other members emphasized that the committee’s role was to reconcile the two chambers’ budgets, not to adopt the governor’s proposal. Members also raised concerns about opioid settlement funds and the Dolly Parton Imagination Library match rate, with one senator urging restoration of the House language. No final vote or formal action was taken in the portion provided; the meeting primarily consisted of explanation, questions, and discussion of proposed budget differences.
MN

Minnesota 2025-2026 Regular Session

House Health Finance and Policy Committee 4/8/26

Health Finance and Policy

Transcript Highlights:
  • The first item regards the health plan regulatory alignment.
  • The first item regards the health plan regulatory alignment.
  • Uh as you may plan regulatory alignment.
  • </c><01:36:18.800><c> to</c> the our proposal does is it conforms to the our proposal does is it conforms
  • ><c> to</c><01:37:06.639><c> these</c> conforms state law to these conforms state law to these requirements
Bills: HF4609 , HF4401
NM

New Mexico 2025 Regular Session

IC - Revenue Stabilization and Tax Policy Aug 14th, 2025

Revenue Stabilization & Tax Policy Committee

Transcript Highlights:
  • We use the term conformity, and that's important because where we conform and how we conform is what
  • If you conform automatically, then you have to back out or change the things that you don't want to conform
  • But that was an example where even though we're a conforming state, we didn't conform in those cases.
  • So if you're looking for how does this conform?
  • So we're still conforming; we're just specifically conforming to these things.
FL

Florida 2025 Regular Session

Banking and Insurance Mar 25th, 2025

Banking and Insurance

Transcript Highlights:
  • We are a regulatory agency.
  • I know you're the treasurer, not the regulator, but any regulatory issues that you're aware of that Utah
  • If we created another regulatory scheme that perhaps licenses custodians or other market participants
  • And I would suggest the LBMA standards are what the commercial version that you may be using conforms
  • It conforms to the LBMA standards, which are a statement on the purity, the location, where it's been
Summary: The committee first took up SB 794, as amended by a late-filed strike-all, which would require a human being to make insurance claim denial decisions and prohibit artificial intelligence from being the sole basis for a denial. The sponsor said the bill was intended to preserve human oversight while allowing innovation in claims processing. Public testimony included support from the Florida Insurance Consumer Advocate and the Florida Medical Association, along with one speaker urging additional protections for homeowners. The committee adopted the strike-all and reported SB 794 favorably with committee substitutes. Members then heard SB 134, which removes the $500 threshold on the sales tax exemption for bullion, making sales of gold, silver, and platinum bullion fully exempt and eliminating certain dealer documentation requirements. Supporters argued the change would reduce a regressive tax and help consumers preserve savings; the sponsor estimated a revenue impact of about $300,000. The bill was reported favorably. The committee also adopted a strike-all on SB 888, which directs the Office of Insurance Regulation to create a more consumer-friendly homeowners insurance website with premium comparison information, market data, rate filing access, and educational resources. The sponsor and Leader Boyd said the goal was to improve transparency and help consumers navigate a stabilizing market. SB 888 was reported favorably with committee substitutes. The final bill heard was SB 1578, covering mammograms and supplemental breast cancer screenings. The sponsor said it would expand coverage requirements in ACA plans and private insurance policies, including annual mammograms for women ages 40 to 50 and supplemental screening coverage, while noting Medicaid already provides these services. The Florida Insurance Consumer Advocate waived in support, and the bill was reported favorably. After the bills, the committee held a lengthy panel discussion on gold and silver as legal tender and transactional money, with testimony from officials from Utah and Florida, industry representatives, and advocacy groups. Panelists discussed constitutional authority, consumer protections, depository oversight, taxation issues, and possible transactional platforms for precious metals. No further action was taken after the discussion, and the committee adjourned.
PA

Pennsylvania 2025-2026 Regular Session

Senate Session (Jun 22 2026)

Pennsylvania Senate Floor Meeting

Transcript Highlights:
  • In conformity with law, I have the honor... The chair lays before the Senate.
  • In conformity with law, I have the honor... These will be referred to the Committee on Rules.
  • In keeping with the aim of lowering regulatory burdens to providers, I offer this legislation allowing
  • partnered on legislation that was signed into law as Act 66, which made the first dent in the complex regulatory
Summary: The Senate convened with prayer by Senator Anthony H. Williams and the Pledge of Allegiance, then received gubernatorial communications and a long list of newly referred Senate and House bills and resolutions. The chamber approved the April 22, 2026 journal by a 49-0 vote. Senators also introduced guests, including a high school senior advisory council visiting with Senator Malone and a young guest welcomed by Senator Costa. On the floor, several bills were taken up and either set aside or advanced. Senate Bill 1377 and Senate Bill 482 were re-referred to Appropriations, Senate Bill 906 was re-referred to Rules and Executive Nominations, and Senate Bills 1133, 1334, and 1368 were also sent to Appropriations. Senator Dush requested a conflict-of-interest ruling on an amendment to Senate Bill 469; the chair ruled no conflict existed and required him to vote, and the amendment was adopted. The Senate also took Senate Bill 127 from the table and placed it on the calendar. The Senate then considered Supplemental Calendar Number One. Senate Bill 362 received a technical amendment and was advanced; Senate Bill 1183 passed 50-0; Senate Bill 1352, which would allow qualifying substance use disorder treatment providers to receive two-year licenses, passed 45-5 after supportive remarks from Senators Brooks, Tartaglione, and Street; and House Bill 1877, codifying the Pennsylvania seal of biliteracy, passed 50-0 after Senator Lindsey Williams described its student-led origins. The session ended with committee announcements for the next day and Senator Tartaglione’s petition urging a floor vote on the House-passed minimum wage bill, House Bill 2189.
CA
Transcript Highlights:
  • They are shifting toward establishing clear, predictable regulatory frameworks.
  • But these systems are protection and an ever-evolving regulatory landscape.
  • There's been regulatory uncertainty.
  • On the regulatory side, DFAL, AB 39, takes effect July 2026.
  • Licensed custodians would be evaluated on security, key management, and regulatory compliance.
Summary: The Assembly Banking and Finance Committee held an informational hearing on digital asset innovation, with opening remarks framing cryptocurrencies, blockchain, stablecoins, tokenization, and decentralized finance as a growing part of the financial system. Dennis Porter of Satoshi Action Fund presented on the market size, institutional adoption, use cases such as remittances and small-business payments, and policy developments at the federal and state levels. He also discussed risks including volatility, cybersecurity, and illicit use, while arguing that clear regulation can support innovation and consumer protection. State Controller Malia Cohen then updated the committee on implementation of SB 822, California’s unclaimed digital asset law. She explained that the law applies to custodial accounts, not self-custodied wallets, and requires holders to conduct outreach before dormant digital assets are transferred to the state in native form. Committee discussion focused on how abandonment is determined, what counts as account activity, the expected timeline for notices and custodian procurement, and the administrative costs and staffing needed to run the program. Controller staff said the state is still building procedures, working with Oregon, and expects a significant increase in claims once the program is operational. Porter returned with a proposal for a California digital asset reserve fund built on unclaimed digital assets under SB 822. He argued the fund could be cost-neutral, use only high-quality digital assets, and include guardrails such as an advisory board, audits, and public reporting. Committee members expressed interest in diversification and consumer protection, but also raised concerns about volatility, documentation, and market downturns. The hearing ended after public comment from industry and advocacy representatives, including support from the California Blockchain Advocacy Coalition, the Crypto Council for Innovation, and Coinbase, all urging clear, technology-neutral policy to keep innovation and jobs in California.
MN
Transcript Highlights:
  • supplemental nursing Services Conformity supplemental nursing Services Agency<00:04:19.639><c> updates
  • They also make conforming technical changes, and that concludes the walkthrough for Article 3.
  • </c> hearing and review and makes conforming hearing and review and makes conforming technical<00:08:
  • Conforming changes made necessary by the recodification in Article 6.
  • It also makes conforming changes throughout statutes where appropriate.
CA
Transcript Highlights:
  • Second, high regulatory cost of compliance.
  • Second, direct regulatory costs.
  • In other words, these SCS plans hold no housing regulatory power.
  • In other words, these SCS plans hold no housing regulatory power.
  • It's often because a lender or financing requires our regulatory review.
Summary: The Assembly Select Committee on Regulatory Authority held its first hearing to examine how California’s regulatory framework affects housing availability and affordability. Chair Pacheco and Assembly Member Haney framed the discussion around the state’s housing shortage, rising costs, and the need to reduce unnecessary delays and burdens while still protecting public health, safety, and environmental goals. The first panel included housing policy experts and industry representatives, who argued that overlapping state and regional rules, complex code requirements, utility delays, and lengthy review processes add substantial cost to new housing. Bill Fulton described California’s land use system as a “big Rubik’s Cube” of competing goals, while CBIA’s Chris Ochoa and Bob Raymer urged more attention to affordability impacts in code adoption and state agency rulemaking. The Bay Area Council’s Louis Marante called for a statewide cost target for housing and stronger accountability for state agencies, citing project review delays, regulatory costs, and indirect impacts from water, stormwater, and transportation policies. State agency witnesses generally defended their roles as balancing housing with other statutory mandates. HCD said its enforcement of housing element law, streamlining statutes, and technical assistance has helped increase production, reduce entitlement times, and approve tens of thousands of homes that might otherwise have faced discretionary review. CARB said SB 375 does not regulate local land use or reduce housing supply, and that sustainable community strategies are planning tools that could support housing if fully implemented. The Coastal Commission said it has worked with local governments to streamline coastal housing approvals, approve density bonus and ADU ordinances, and support legislation to exempt some affordable housing from coastal permits, while still protecting coastal resources and sea-level-rise hazards. The Energy Commission said its building energy standards are required by statute to be cost-effective and save consumers money over time, though they can add some design complexity and upfront cost. Other agencies emphasized collaboration and early engagement as the best way to reduce delays. Fish and Wildlife said its mission is to protect California’s natural diversity and that better early coordination with developers can improve outcomes. DTSC said brownfield cleanup and vapor intrusion review are necessary to protect public health, but that early engagement, workshops, and site-specific approaches can help projects move forward; it also noted grant funding supporting affordable housing on contaminated sites. The Water Board said it uses general orders and basin planning to streamline permitting while meeting federal and state water-quality obligations, and that its infrastructure grants and loans support housing affordability. In response to Assembly Member Haney’s questions, several agencies said they already coordinate across departments, but he pressed for more cross-agency clarity and less siloed decision-making. No votes or formal actions were taken at the hearing.
MN

Minnesota 2025-2026 Regular Session

Committee on Higher Education - 03/17/26

Higher Education

Transcript Highlights:
  • Uh, and that's outside of the regulatory authority that we do have.
  • Uh, and that's outside of the regulatory authority that we do have.
  • Um, to do some conform the changes at the federal level um and provide flexibility and clarification
  • Um, to do some conform the changes at the federal level um and provide flexibility and clarification
  • Um, to do some conform the changes at the federal level um and provide flexibility and clarification
CA
Transcript Highlights:
  • regulations that were enacted by the State Fire Marshal because they ruled that they did not properly conform
  • The court stated that the State Fire Marshal could reintroduce those items through the regulatory process
  • But when we add up all the good intentions and the regulatory costs, it ends up breaking the back...
  • Regulatory costs, it ends up breaking the back of working families.
  • Model rocketry has its own regulatory regime under state law.
Summary: The Committee on Emergency Management heard several bills related to public safety, wildfire preparedness, and fireworks regulation. SB 1299, by Senator Arreguín, would place in statute a certification and training framework for fire sprinkler fitters and apprentices after a court decision disrupted prior State Fire Marshal regulations. Supporters said the bill would protect life safety by ensuring qualified installation and maintenance of fire suppression systems, while opponents raised concerns about added costs, housing affordability, and labor-related effects. The committee passed the bill as amended to the Committee on Labor and Employment on a roll call vote, with DeMaio and Hadwick voting no. SB 1153, by Senator Caballero, would require urban retail water suppliers to incorporate wildfire-specific procedures into emergency plans and clarify that water systems are not designed to serve as wildfire defense systems. Supporters from water agencies and fire organizations said the bill would improve coordination, planning, and ratepayer protection while acknowledging infrastructure limits. Members discussed transparency, backup generators, and whether the bill should require more public disclosure; the author said he would continue working on possible amendments. The committee passed the bill as amended to the Committee on Environmental Safety and Toxic Materials. SB 828, by Senator Cabaldon, responds to the Esparto fireworks warehouse explosion by requiring fireworks licensees to disclose storage locations, verify local permits, and meet other compliance conditions. The author said the bill was developed with the State Fire Marshal and local public safety partners to close information gaps and improve enforcement. An opposition witness argued the permit-verification requirements could not be met in all jurisdictions, especially for hobby rocketry and small-scale uses, prompting discussion about clarifying different rocket categories and administrative implementation. The committee passed SB 828 as amended to the Committee on Local Government, and the meeting then adjourned after all bills were reported out.
US
Transcript Highlights:
  • For far too long the absence of regulatory of a regulatory framework has left consumers vulnerable and
  • Innovative blockchain companies that want regulatory certainty and a vibrant and innovative marketplace
  • Treasury demand, the benefits of a clear regulatory framework for stablecoin are immense.
  • So this amendment just invites regulatory overreach, in my opinion, and it doesn't increase consumer
  • We are here to advance a first-of-its-kind regulatory framework that advances the standing of the U.S
Bills: SB875
Summary: This meeting focused on the markup of the Genius Act and the FIRM Act, two significant pieces of legislation addressing stablecoin regulation and the financial industry's regulatory framework. The Chairman noted the importance of providing clarity to the digital asset community and protecting American consumers, while also promoting innovation and competition within the financial sector. Members of both parties expressed varying viewpoints, with some highlighting concerns related to national security and the potential risks associated with stablecoins.
NV
Transcript Highlights:
  • Other sections of the bill really have some conforming language or cleanup language, just making extremely
  • Other sections of the bill really have some conforming language or cleanup language, just making extremely
  • It supports Nevada's vibrant and growing craft beer industry while maintaining regulatory oversight,
  • AB 404 is a smart, balanced approach that supports local economic development while preserving regulatory
MN

Minnesota 2025-2026 Regular Session

Committee on Agriculture, Veterans, Broadband and Rural Development - 03/24/25

Agriculture, Veterans, Broadband, and Rural Development

Transcript Highlights:
  • Makes some technical conforming changes.
  • Again, more technical conforming changes throughout the bill.
  • </c> and makes some conforming changes. and makes some conforming changes.
  • ><c> and</c> Section two makes conforming and Section two makes conforming and technical<01:09:15.839
  • </c> maintaining the current regulatory maintaining the current regulatory framework.<01:48:56.639><c