FCC Sets Out to Consolidate and Simplify Regulations on Foreign Ownership
WASHINGTON's Latest Move: The Federal Communications Commission (FCC) is shaking things up by unanimously voting to propose new rules aimed at boosting transparency and security surrounding foreign ownership in the U.S. communications sector. Here's the lowdown on this game-changer:
The FCC's New Proposals:
- Defining the Enemy: The FCC plans to label as foreign adversaries any foreign governments or non-government entities deemed by the Secretary of Commerce to pose a significant threat to U.S. national security or safety.
- Certification Mandate: Holders of specific licenses or authorizations will be required to certify whether they are under the control of, or subject to the jurisdiction of, a foreign adversary. This also means disclosing any ownership interests of 5% or greater.
- Disclosing Connections: Entities that admit to foreign adversary control or ownership must reveal all significant ownership interests (foreign and non-foreign) exceeding 5%.
- Keep it Updated: Initial certifications are necessary, along with updates within 30 days of any modifications involving a foreign adversary or new significant ownership interest.
- Swift Penalties: A streamlined process will be established for revoking licenses or authorizations in case of non-compliance with certification and reporting requirements.
- Defining the Scope: The FCC is also working on specifying the entities and licenses subject to these new rules.
The Big Picture:
The FCC's actions are part of a broader initiative aimed at beefing up national security and transparency in the communications sector. This move follows recent efforts to block foreign-controlled "bad labs" from certifying U.S. wireless equipment, reflecting ongoing concerns about foreign influence in U.S. networks.
With these new rules on the table, the FCC is waiting for public comments, with a 30-day window for submissions following publication in the Federal Register.
There you have it! Get ready for a more transparent and secure communications industry. Now let's see what the public has to say about it!
- The new FCC proposals aim to boost transparency and security in the U.S. communications sector by requiring media companies to certify if they are under the control of foreign adversaries, particularly foreign governments or entities deemed a threat to national security or safety.
- Under the new rules, entities without foreign adversary control or ownership must disclose any ownership interests of 5% or greater, while those admitting to such control or ownership must reveal all significant ownership interests exceeding 5%.
- These new rules also require initial certifications and updates within 30 days of any modifications involving a foreign adversary or new significant ownership interest.
- Non-compliance with certification and reporting requirements could lead to swift penalties such as revoking licenses or authorizations.
- The FCC is also working on specifying the entities and licenses subject to these new rules, which is part of a broader initiative to beef up national security and transparency in the communications sector, and reflect ongoing concerns about foreign influence in U.S. networks.
- The public is invited to share their thoughts on these new proposals with a 30-day window for submissions following their publication in the Federal Register, contributing to the ongoing discourse on policy-and-legislation, finance, business, and general-news within the video, media, and broadcast industries.
