Not sure what you mean by "tracking devices". Virtually all commercial aircraft are required to carry emergency locator transmitters (ELTs) and radar transponders. In fact, the US is behind many other countries in that it does not mandate 406 MHz ELTs which can be received by satellites. It is assumed that no ELT transmission was received from MH370 because the aircraft's ELTs are underwater. MH370's transponders were not transmitting once contact was lost with the aircraft.
The ADS-B collision avoidance system, which transmits aircraft position to other aircraft is not required for aircraft operating in the US.
What is not required by either the FAA or ICAO is a system that constantly transmits position and other telemetry to ground stations via satellite. Such a system, had it been installed and operating aboard MH370, would have eliminated the guesswork of locating where the aircraft went down and might even have eliminated the need to recover the aircraft's "black boxes". The need for such a system has been discussed since the crash of Air France flight 447 in 2009. The FAA and ICAO have been historically reluctant to mandate expensive upgrades to the aviation industry, which is why they're still just talking about it five years later.
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