GOOD NEWS !!!!

Extension of Optional Practical Training Visa Time Period

Anticipated that the Department of Homeland Security will publish a rule extending the Optional Practical Training ("OPT") visa time period from 12 months to 29 months. SIFMA has been advocating for this extension as part of a broader visa reform effort seeking to facilitate movement and immigration of highly skilled workers. At this time, it is anticipated that the OPT extension may be limited to those with STEM degrees (Science, Technology, Engineering, and Math) and may also require employers to participate in the government's e-verify program. It is unclear whether the rule proposal will be published for notice and comment or will be an interim final rule, but it is likely that SIFMA will comment if it has the opportunity to do so. Although SIFMA supports extension of the OPT time period, it may comment on two aspects of the anticipated proposal: (1) limiting the category of degree holders will limit the usefulness of the OPT extension for the securities industry; and (2) requiring participation in e-verify program is controversial because it is reportedly not very accurate since it is based on limited information.