NL pilot project will help hire out-of-province psychiatric nurses
Newfoundland and Labrador Health Minister Tom Osborne said he’ll be announcing a new pilot project this fall that will allow out-of-province licensed psychiatric nurses to work in the province. The move is intended to improve psychiatric care for Newfoundlanders and Labradorians and help reduce the province’s nursing shortage.
As it stands, the College of Registered Nurses of Newfoundland and Labrador doesn’t have the authority to regulate registered psychiatric nurses, which means that nurses working in other provinces can’t be hired in Newfoundland in Labrador because their credentials aren’t recognized.
The temporary pilot project will give Newfoundland and Labrador Health Services the ability to hire registered psychiatric nurses. Making this change permanent will require a legislative change to allow the nurses’ college to regulate registered psychiatric nurses, which Osborne hopes will happen before the end of 2023.
Osborne said more details, such as how many registered psychiatric nurses will be hired and where they will work, will be released when the pilot project is announced. Read more from CBC News.
Texas, Louisiana enact digital asset licensing legislation
Texas and Louisiana recently became the latest states to enact legislation establishing licensure requirements for digital asset service providers.
Texas enacted HB 1666, which adds practice restrictions to digital asset service providers and requires them to submit an annual report to the Texas Department of Banking verifying that they meet various requirements, including that they are maintaining reserves sufficient to fulfill their obligations to consumers, and ensuring customers are able to withdraw their funds at any time. The Department of Banking will have the authority to suspend and revoke a license if these requirements are not met and may impose penalties for violations.
Louisiana amended its existing laws relating to the regulation and licensure of virtual currency businesses with the passage of SB 185. Virtual currency businesses must now provide a copy of their business plan to regulators prior to obtaining a license, and applicants must also provide audited financial statements, certificates evidencing insurance coverage, and their financial services-related regulatory history, including information concerning money transmission, securities, banking, insurance, and mortgage-related industries. Read more about the new measures in the National Law Review.
Advocacy organization for military spouse professional license reciprocity announces expansion
The Alliance for States Providing Interoperable Reciprocity (ASPIRE) Coalition, which advocates for military spouse professional license reciprocity, recently announced it had expanded to seven members and is launching a new website to make it easier for organizations to join.
The ASPIRE Coalition is dedicated to accelerating the adoption of technologies and processes that simplify professional licensing reciprocity and mutual recognition for military spouses by and between states. Its current members include organizations such as the Association of the United States Army, Blue Star Families, and the National Military Spouse Network.
Expansion will support the coalition’s work as it pushes for legislative and tactical solutions to support license reciprocity for military spouses. In addition to encouraging states to partner with each other and fund legislation, it is also urging them to create digital systems that advance license portability. ASPIRE notes that while 34 U.S. states have reciprocity legislation in place as of March 2023, no substantive action has been taken to implement improved, digital processes. Read more in the press release.
Ireland and Luxembourg step up calls for tougher shadow banking rules
Ireland and Luxembourg have intensified calls for tougher global rules on shadow banks in an effort to mitigate the risk of further financial turmoil after a string of crises originating from the sector.
The shadow banking sector – which includes hedge funds, crypto firms, brokers, lenders, and other intermediaries that are outside the traditional banking industry – is less tightly regulated as firms do not hold retail deposits and were not deemed responsible for the global financial crisis.
However, the sheer size of the sector has many concerned about the risks a future crisis would pose to both regional and global financial stability. Since 2008, the shadow banking sector has more than doubled, with assets rising to $240 trillion, and it now holds about half of all financial system assets.
Ireland and Luxembourg together host shadow banks with about €10 trillion in assets and were at the center of a recent crisis last September. Dublin is calling for a framework for all shadow banks that considers system-wide impacts rather than focusing on risks that individual firms pose. Luxembourg, meanwhile, is pushing for tougher global rules through its membership in groups such as the Financial Stability Board and Iosco. Read more in the Irish Times.
Rhode Island enacts Nurse Licensure Compact
Rhode Island became the 41st jurisdiction to enact the Nurse Licensure Compact after Gov. Daniel McKee signed it into law on June 24. Under the compact, registered nurses and licensed vocational nurses will be permitted to practice in person or via telehealth in Rhode Island as well as other compact states using one multistate license.
Rhode Island State Senator Joshua Miller, who supported the legislation, said that joining the compact is an important way they can make it easier and more appealing for nurses to work in Rhode Island, which will help the state address its severe nursing shortage.
Rhode Island will now have to go through the compact implementation process before it becomes effective, but an implementation date has not yet been set. Read more from HealthLeaders.
More news:
- Legislation championed by Illinois State Senator Omar Aquino to increase the availability of home health services and in-home care was signed into law on June 30. Under the new law, professional licenses for home health, home services, and home nursing agencies will be valid for 240 days instead of 120 days, and agencies will also be allowed to receive a renewal of a provisional license for up to 90 days while they work toward full licensure.
- In response to the state-wide shortage of nurses in Texas, the University of North Texas Health Science Center is starting its own nursing school with a goal of launching in the summer of 2024. The school’s offerings will include post-licensure courses for registered nurses to upgrade their current degree into a bachelor’s or graduate degree.
- The City of Denver is pausing the issuing of food licenses as the Department of Excise and Licenses moves its licensing process online. The Department will not be processing new or renewal applications for 20 days between July 7-27. The city is also making changes that will simplify the food licensing process, such as reducing the number of licensing fee categories and introducing a flat application fee of $150 for all wholesale and retail food licenses.
- China is working on tighter rules to regulate generative AI in an effort to encourage companies to develop new technologies and sustain AI leadership in China while not sacrificing the government’s ability to control and censor content. According to two sources close to Chinese regulators, the country’s powerful internet watchdog, the Cyberspace Administration of China, aims to create a system to force companies to obtain a license before they release generative AI models.
Also noteworthy:
Interesting opinion, commentary, and analysis from the web:
- State workforce trends show ‘mixed bag’ for CIOs as turnover increases (StateScoop)
- As more states legalize pot, their uneven safety rules can pose a risk (Route Fifty)
- Will artificial intelligence reach a tipping point? (GIS Reports)
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.
IN BRIEF
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