Notice on Penalty Inflation Adjustments for Civil Monetary Penalties, 1973 [2024-00408]

Download as PDF Federal Register / Vol. 89, No. 8 / Thursday, January 11, 2024 / Notices Trust Shares). The proposed rule change was published for comment in the Federal Register on June 12, 2023.3 On July 25, 2023, pursuant to Section 19(b)(2) of the Act,4 the Commission designated a longer period within which to approve the proposed rule change, disapprove the proposed rule change, or institute proceedings to determine whether to disapprove the proposed rule change.5 On September 6, 2023, the Commission instituted proceedings pursuant to Section 19(b)(2)(B) of the Act 6 to determine whether to approve or disapprove the proposed rule change.7 On September 29, 2023, the Exchange submitted Amendment No. 1 to the proposed rule change, and on October 20, 2023, the Exchange withdrew Amendment No. 1. On November 27, the Commission designated a longer period for Commission action on the proposed rule change.8 The Commission has not received any comment letters on the proposal. On December 26, 2023, the Exchange withdrew the proposed rule change (SR–NYSEARCA–2023–37). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.9 Christina Z. Milnor, Assistant Secretary. [FR Doc. 2024–00384 Filed 1–10–24; 8:45 am] BILLING CODE 8011–01–P SOCIAL SECURITY ADMINISTRATION [Docket No. SSA–2023–0044] Notice on Penalty Inflation Adjustments for Civil Monetary Penalties Social Security Administration. Notice announcing updated penalty inflation adjustments for civil monetary penalties for 2024. AGENCY: ACTION: The Social Security Administration is giving notice of its updated maximum civil monetary penalties. These amounts are effective from January 15, 2024 through January 14, 2025. These figures represent an annual adjustment for inflation. The updated figures and notification are required by the Federal Civil Penalties ddrumheller on DSK120RN23PROD with NOTICES1 SUMMARY: 3 See Securities Exchange Act Release No. 97653 (June 6, 2023), 88 FR 38110. 4 15 U.S.C. 78s(b)(2). 5 See Securities Exchange Act Release No. 97972, 88 FR 49508 (July 31, 2023). 6 15 U.S.C. 78s(b)(2)(B). 7 See Securities Exchange Act Release No. 98302, 88 FR 62608 (September 12, 2023). 8 See Securities Exchange Act Release No. 99019, 88 FR 84007 (December 1, 2023). 9 17 CFR 200.30–3(a)(12). VerDate Sep<11>2014 17:31 Jan 10, 2024 Jkt 262001 Inflation Adjustment Act Improvements Act of 2015. FOR FURTHER INFORMATION CONTACT: Jessica Stubbs Platt, Deputy Counsel to the Inspector General, Room 3–ME–1, 6401 Security Boulevard, Baltimore, MD 21235–6401, (410) 816–4054. For information on eligibility or filing for benefits, call the Social Security Administration’s national toll-free number, 1–800–772–1213 or TTY 1– 800–325–0778, or visit the Social Security Administration’s internet site, Social Security Online, at https:// www.socialsecurity.gov. On June 27, 2016, pursuant to the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015 (the 2015 Act),1 we published an interim final rule to adjust the level of civil monetary penalties (CMPs) under Sections 1129 and 1140 of the Social Security Act, 42 U.S.C. 1320a–8 and 1320b–10, respectively, with an initial ‘‘catch-up’’ adjustment effective August 1, 2016.2 We announced in the interim final rule that for any future adjustments, we would publish a notice in the Federal Register to announce the new amounts. The annual inflation adjustment in subsequent years must be a cost-ofliving adjustment based on any increases in the October Consumer Price Index for All Urban Consumers (CPI–U) (not seasonally adjusted) each year.3 Inflation adjustment increases must be rounded to the nearest multiple of $1.4 We last updated the maximum penalty amounts effective January 15, 2023.5 Based on Office of Management and SUPPLEMENTARY INFORMATION: 1 See https://www.congress.gov/bill/114thcongress/house-bill/1314/text. See also 81 FR 41438, https://www.federalregister.gov/documents/ 2016/06/27/2016-13241/penalty-inflationadjustments-for-civil-money-penalties. 2 See 81 FR 41438, https:// www.federalregister.gov/documents/2016/06/27/ 2016-13241/penalty-inflation-adjustments-for-civilmoney-penalties. 3 See OMB Memorandum, Implementation of the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015, M–16–06, p. 1 (February 24, 2016), https://www.whitehouse.gov/wp-content/ uploads/legacy_drupal_files/omb/memoranda/ 2016/m-16-06.pdf. See also 81 FR 41438, https:// www.federalregister.gov/documents/2016/06/27/ 2016-13241/penalty-inflation-adjustments-for-civilmoney-penalties. 4 OMB Memorandum, Implementation of the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015, M–16–06, p. 3 (February 24, 2016), https://www.whitehouse.gov/wp-content/ uploads/legacy_drupal_files/omb/memoranda/ 2016/m-16-06.pdf. See also 81 FR 41438, https:// www.federalregister.gov/documents/2016/06/27/ 2016-13241/penalty-inflation-adjustments-for-civilmoney-penalties. 5 See 87 FR 80245, https://www.federalregister. gov/documents/2022/12/29/2022-28284/notice-onpenalty-inflation-adjustments-for-civil-monetarypenalties. PO 00000 Frm 00099 Fmt 4703 Sfmt 4703 1973 Budget (OMB) guidance,6 the information below serves as public notice of the new maximum penalty amounts for 2024. The adjustment results in the following new maximum penalties, which will be effective as of January 15, 2024. Section 1129 CMPs (42 U.S.C. 1320a– 8): $9,399.00 (current maximum per violation for fraud facilitators in a position of trust) × 1.03241 (OMB-issued inflationary adjustment multiplier) = $9,703.62. When rounded to the nearest dollar, the new maximum penalty is $9,704. $9,966.00 (current maximum per violation for all other violators) × 1.03241 (OMB-issued inflationary adjustment multiplier) = $10,289.00. When rounded to the nearest dollar, the new maximum penalty is $10,289. Section 1140 CMPs (42 U.S.C. 1320b– 10): $12,397.00 (current maximum per violation for all violations other than broadcast or telecasts) × 1.03241 (OMBissued inflationary adjustment multiplier) = $12,798.79. When rounded to the nearest dollar, the new maximum penalty is $12,799. $61,982.00 (current maximum per violative broadcast or telecast) × 1.03241 (OMB-issued inflationary adjustment multiplier) = $63,990.84. When rounded to the nearest dollar, the new maximum penalty is $63,991. Michelle Murray, Chief Counsel, Office of the Inspector General, Social Security Administration. [FR Doc. 2024–00408 Filed 1–10–24; 8:45 am] BILLING CODE 4191–02–P SOCIAL SECURITY ADMINISTRATION [Docket No. SSA–2023–0005] Finding Regarding Foreign Social Insurance or Pension System of Cambodia Social Security Administration. Notice of finding regarding foreign social insurance or pension system of Cambodia. AGENCY: ACTION: We find that, under the Alien Nonpayment Provision of the Social Security Act (Act), citizens of Cambodia may continue to receive Social Security benefits under title II, after 6 consecutive months of absence from the United States, without regard to length of absence, if they meet certain conditions. This finding is based on our analysis of information and data we SUMMARY: 6 See OMB Memorandum, Implementation of Penalty Inflation Adjustments for 2024, Pursuant to the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015, M–24–07, p. 1 (December 19, 2023), https://www.whitehouse.gov/ wp-content/uploads/2023/12/M-24-07Implementation-of-Penalty-Inflation-Adjustmentsfor-2024.pdf. E:\FR\FM\11JAN1.SGM 11JAN1

Agencies

Social Security Administration

[Federal Register Volume 89, Number 8 (Thursday, January 11, 2024)]
[Notices]
[Page 1973]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-00408]


=======================================================================
-----------------------------------------------------------------------

SOCIAL SECURITY ADMINISTRATION

[Docket No. SSA-2023-0044]


Notice on Penalty Inflation Adjustments for Civil Monetary 
Penalties

AGENCY: Social Security Administration.

ACTION: Notice announcing updated penalty inflation adjustments for 
civil monetary penalties for 2024.

-----------------------------------------------------------------------

SUMMARY: The Social Security Administration is giving notice of its 
updated maximum civil monetary penalties. These amounts are effective 
from January 15, 2024 through January 14, 2025. These figures represent 
an annual adjustment for inflation. The updated figures and 
notification are required by the Federal Civil Penalties Inflation 
Adjustment Act Improvements Act of 2015.

FOR FURTHER INFORMATION CONTACT: Jessica Stubbs Platt, Deputy Counsel 
to the Inspector General, Room 3-ME-1, 6401 Security Boulevard, 
Baltimore, MD 21235-6401, (410) 816-4054. For information on 
eligibility or filing for benefits, call the Social Security 
Administration's national toll-free number, 1-800-772-1213 or TTY 1-
800-325-0778, or visit the Social Security Administration's internet 
site, Social Security Online, at https://www.socialsecurity.gov.

SUPPLEMENTARY INFORMATION: On June 27, 2016, pursuant to the Federal 
Civil Penalties Inflation Adjustment Act Improvements Act of 2015 (the 
2015 Act),\1\ we published an interim final rule to adjust the level of 
civil monetary penalties (CMPs) under Sections 1129 and 1140 of the 
Social Security Act, 42 U.S.C. 1320a-8 and 1320b-10, respectively, with 
an initial ``catch-up'' adjustment effective August 1, 2016.\2\ We 
announced in the interim final rule that for any future adjustments, we 
would publish a notice in the Federal Register to announce the new 
amounts. The annual inflation adjustment in subsequent years must be a 
cost-of-living adjustment based on any increases in the October 
Consumer Price Index for All Urban Consumers (CPI-U) (not seasonally 
adjusted) each year.\3\ Inflation adjustment increases must be rounded 
to the nearest multiple of $1.\4\ We last updated the maximum penalty 
amounts effective January 15, 2023.\5\ Based on Office of Management 
and Budget (OMB) guidance,\6\ the information below serves as public 
notice of the new maximum penalty amounts for 2024. The adjustment 
results in the following new maximum penalties, which will be effective 
as of January 15, 2024.
---------------------------------------------------------------------------

    \1\ See https://www.congress.gov/bill/114th-congress/house-bill/1314/text. See also 81 FR 41438, https://www.federalregister.gov/documents/2016/06/27/2016-13241/penalty-inflation-adjustments-for-civil-money-penalties.
    \2\ See 81 FR 41438, https://www.federalregister.gov/documents/2016/06/27/2016-13241/penalty-inflation-adjustments-for-civil-money-penalties.
    \3\ See OMB Memorandum, Implementation of the Federal Civil 
Penalties Inflation Adjustment Act Improvements Act of 2015, M-16-
06, p. 1 (February 24, 2016), https://www.whitehouse.gov/wp-content/uploads/legacy_drupal_files/omb/memoranda/2016/m-16-06.pdf. See also 
81 FR 41438, https://www.federalregister.gov/documents/2016/06/27/2016-13241/penalty-inflation-adjustments-for-civil-money-penalties.
    \4\ OMB Memorandum, Implementation of the Federal Civil 
Penalties Inflation Adjustment Act Improvements Act of 2015, M-16-
06, p. 3 (February 24, 2016), https://www.whitehouse.gov/wp-content/uploads/legacy_drupal_files/omb/memoranda/2016/m-16-06.pdf. See also 
81 FR 41438, https://www.federalregister.gov/documents/2016/06/27/2016-13241/penalty-inflation-adjustments-for-civil-money-penalties.
    \5\ See 87 FR 80245, https://www.federalregister.gov/documents/2022/12/29/2022-28284/notice-on-penalty-inflation-adjustments-for-civil-monetary-penalties.
    \6\ See OMB Memorandum, Implementation of Penalty Inflation 
Adjustments for 2024, Pursuant to the Federal Civil Penalties 
Inflation Adjustment Act Improvements Act of 2015, M-24-07, p. 1 
(December 19, 2023), https://www.whitehouse.gov/wp-content/uploads/2023/12/M-24-07-Implementation-of-Penalty-Inflation-Adjustments-for-2024.pdf.
---------------------------------------------------------------------------

    Section 1129 CMPs (42 U.S.C. 1320a-8):

    $9,399.00 (current maximum per violation for fraud facilitators 
in a position of trust) x 1.03241 (OMB-issued inflationary 
adjustment multiplier) = $9,703.62. When rounded to the nearest 
dollar, the new maximum penalty is $9,704.
    $9,966.00 (current maximum per violation for all other 
violators) x 1.03241 (OMB-issued inflationary adjustment multiplier) 
= $10,289.00. When rounded to the nearest dollar, the new maximum 
penalty is $10,289.

    Section 1140 CMPs (42 U.S.C. 1320b-10):

    $12,397.00 (current maximum per violation for all violations 
other than broadcast or telecasts) x 1.03241 (OMB-issued 
inflationary adjustment multiplier) = $12,798.79. When rounded to 
the nearest dollar, the new maximum penalty is $12,799.
    $61,982.00 (current maximum per violative broadcast or telecast) 
x 1.03241 (OMB-issued inflationary adjustment multiplier) = 
$63,990.84. When rounded to the nearest dollar, the new maximum 
penalty is $63,991.

Michelle Murray,
Chief Counsel, Office of the Inspector General, Social Security 
Administration.
[FR Doc. 2024-00408 Filed 1-10-24; 8:45 am]
BILLING CODE 4191-02-P

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.