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Expert Analysis

Perez V. MBA Shines A Light On 'Shadow Regulations'

Law360, New York (March 16, 2015, 10:15 AM EDT) -- Over the last three decades, federal agencies have increasingly used "interpretations" to "explain" what a formal regulation means, rather than to go through the more expensive, complicated and slow process of changing the regulation itself. Many of those interpretations actually impose new requirements on the regulated community and can be quite controversial, especially when the agency later changes the interpretation that has been relied on. There is no area of federal agency activity that does not involve this practice....

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