The Commission recently adopted the Second Report and Order on Foreign Ownership (“Order”) to overhaul and streamline the way it reviews foreign ownership of U.S. wireless companies under sections 310(b)(3) and (b)(4) of the Communications Act. These reforms will dramatically reduce the number of hours applicants spend to prepare required filings, as well as lower, by up to 70%, the number of such filings annually.;
This Order is the latest in a series of regulatory reform and data innovation efforts we in the International Bureau have taken under the leadership of Chairman Genachowski. I’d like to take this occasion to highlight these reform accomplishments and to thank the excellent staff in the Bureau and the Commission for their efforts to streamline and improve the way we interact with industry and the public.
A guiding principle of our regulatory reform efforts has been to achieve flexible, common sense, market-based, data-driven and targeted regulatory frameworks that are informed by our experience and made in consultation with a broad set of stakeholders, including industry, commenters, and relevant Executive Branch agencies. They also demonstrate that there are several approaches to regulatory reform, including identifying and eliminating unnecessary rules, streamlining required rules, and refocusing existing rules to meet technological and market sector changes.
In addition to the foreign ownership streamlining action, here are just a few of the significant reform efforts we have taken over the last four years:
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