WASHINGTON, D.C. — The Federal Trade Commission (FTC) recently approved a final oversight rule to enhance transparency and accountability in the Horseracing Integrity and Safety Authority (HISA).
Initially proposed in February 2024, the rule underwent a public comment period, receiving ten submissions from stakeholders. After careful review, the FTC adopted the rule with minor modifications.
Key provisions require HISA to submit annual and mid-year reports to the FTC, ensuring regular updates on operations. HISA must also develop and publish a multi-year strategic plan, detailing long-term goals and strategies. Additionally, the rule mandates risk management to prevent conflicts of interest, waste, fraud, and abuse. These measures aim to uphold ethical standards and operational excellence.
The FTC’s unanimous 5-0 vote is expected to build public trust and ensure the integrity of horseracing operations. The FTC’s decision aims to provide robust regulatory oversight and sets a precedent for other sectors.
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