The Coast Guard and Maritime Transportation Act of 2004 (Aug. 9, 2004), established new authorities for towing vessels. Out of that came a proposed regulatory scheme requiring towing vessels to become inspected vessels and obtain a Certificate of Inspection (COI). The proposed Subchapter M for title 46, U.S.C., covering Certification, Vessel Compliance, Towing Safety Management System (TSMS), Third-Party Organizations, Operations, Life-Saving, Fire Protection, Machinery and Electrical Systems and Equipment, and Construction and Management of towing vessels is now in draft form. Looking ahead, the Coast Guard refuses to speculate about rulemaking timelines but the Assistant Commandant for Prevention Policy, Rear Admiral Joseph A.