Florida’s passage rates for NCLEX among lowest in U.S. 

A recently released Florida Center for Nursing report suggests passage rates for licensure exams are among the lowest in the country. The Capitolist reports that just over 64% of nursing candidates passed the Registered Nursing exam. Further, only 62% passed the Practical Nursing test and only about 59% of those pursuing an Associate’s Degree in Nursing passed the exam. The test scores are all notably lower than the passage rate nationally, according to the report, suggesting fewer qualified individuals could be entering the field.  

For example, those taking the National Council Licensure Examination (NCLEX) in Florida in 2021 had a passage rate nearly 18% lower than the national average. The volume of nursing candidates who pass the NCLEX is widely used to indicate how many new nurses are entering the profession, and the first attempt pass rate of the NCLEX indicates the effectiveness of prelicensure nursing programs. For a preview of upcoming changes to the NCLEX, listen to our recent podcast with David Benton, CEO of the National Council of State Boards of Nursing (NCSBN).  

Most Canadian doctors, nurses plan to leave profession: Report  

Canadian HR Reporter is drawing attention to a recent report that suggests 75% of nurses and 69% of doctors in Canada plan to leave the health care profession within the next year. According to the study conducted by Blu Ivy Group, a Toronto-based employer branding agency, over 15% of doctors would leave their jobs without a plan while nearly 20% of nurses say they would leave the health care profession entirely.

According to one nurse surveyed, members of the public are either “unaware or willfully ignorant” of the problems with the health care system in Canada. Health care professionals decry poor compensation, a lack of funding, poor retention efforts, bad working conditions, poor regulations, and an aging, ailing workforce, according to the report. Read more at Canadian HR Reporter.

Australian Capital Territory considers property developer licensing scheme

Should property developers be penalized for misbehaving, and should they require licenses to operate in the first place? These and other questions are being considered by the Australian Capital Territory (ACT) government, which says it will release licensing laws for developers next year. It says it is designing a system to ensure developers are accountable and liable for defects in building quality that can arise after project completion. 

Key to the current debate surrounding proposed changes is whether the new scheme will be based on positive or negative licensing. A positive licensing scheme would mean every property developer in the jurisdiction would require a license to operate, while a negative licensing approach would ban bad actors following a violation of the rules. Developer licensure gained steam in 2019 when the government committed to introducing new laws, but lost momentum, according to Labor Backbencher Michael Pettersson. A recent poll commissioned by the Construction, Forestry, Maritime, Mining and Energy Union (CFMEU) suggests 77% public support for a developer licensing scheme. Read more at Riotact.  

Australia advances plans to overhaul financial regulation 

The Australian government has released a consultation paper to help finalize a plan to overhaul the country’s financial system. It wants to update and strengthen the country’s payments system, improve financial market infrastructure, lay the groundwork for licensing crypto service providers, and establish a regulatory framework for buy now, pay later (BNPL) services. 

Buy now, pay later (BNPL) has been a growth area in Australia with a few providers dominating the Australian fintech landscape. Citizens with multiple BNPL accounts have been found to be more vulnerable high-risk borrowers, according to a University of Sydney Business School study. The most-used BNPL services in Australia do not face credit product regulation in Australia, something researchers suggest needs to change. 

Next steps include releasing another consultation paper in the new year, one that will suggest which digital assets should be governed by financial services laws. Read more at The Fintech Times.

Coinbase CEO calls for regulation of crypto industry 

In the midst of the drama over FTX, the CEO of Coinbase, a digital currency exchange, released what he describes as a blueprint for regulating cryptocurrency while guarding innovations in decentralization. Brian Armstrong called for the regulation of centralized entities such as exchanges, stablecoin issuers, and crypto custodians, saying it is the area of highest risk for consumer harm and enjoys broad support. 

Coinbase has recommended that stablecoins be regulated under existing financial services laws, allowing organizations that are not banks to issue stablecoins, provided it excludes fractional reserve lending. Financial regulators have faced criticism from crypto stakeholders over a lack of clarity on regulating token classification. The Commodity Futures Trading Commission (CFTC) recently declared that some digital currencies could be classified as commodities. Read more on Cryptoslate. 

More news 

• Grenadan senators intend to present legislation to legalize cannabis for medicinal purposes by December 2023. The country currently considers cannabis a controlled narcotic drug and no one may cultivate or be found in possession of it. 
• Alaska amended money transmission regulations to feature a definition of virtual currency, a move that will require companies dealing with digital currencies to get a money transmission license. 
• Washington’s Department of Financial Institutions adopted regulations that will let licensed companies allow licensed mortgage loan originators to work from home without licensing the residence as a branch. 
• Ireland’s Construction Safety Licensing Bill 2022 will soon allow for a licensing authority to oversee a new licensing approach for activities currently certified under two other acts. 

Also noteworthy  

• Challenging restrictive municipal cannabis regulation: Is weed agriculture? (Lexology) 
• New York’s draft cannabis regulations: 10 key aspects that will impact the market (JDSupra) 
• What kind of marijuana policy will Oklahoma’s legislature consider? Here are a few guesses (The Oklahoman) 
• Developments in interstate telehealth licensing (JDSupra) 
• Top 10 policy and technology priorities for state CIOs in 2023 (wire19) 
• Cybersecurity regulations in 2023 (Open Access Government) 

Disclaimer: The thoughts, opinions, and commentary of the articles we share links to in Week in Brief do not necessarily reflect those of Ascend Magazine or Thentia.