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The many compliance lessons of Tesla
One simple tweet from Tesla’s outspoken founder speaks to volumes of compliance and regulatory concerns.
AICPA proposes papers on credit losses interpretations
The AICPA is digging into new rules on credit losses and suggesting some implementation approaches with two draft documents open for public comment.
SOX-related audit costs rise again in 2017, poll says
Half of the largest public companies saw SOX-related audit costs rise in 2017, driven by regulatory pressure, M&A activity, and new accounting rules.
CFPB helps launch international financial innovation coalition
The CFPB, working with foreign financial regulators, has announced an initiative to create the Global Financial Innovation Network, intended to provide a more efficient way for innovative firms to interact with regulators.
Reps launch effort to bar peers from serving on corporate boards
In response to yet another member of Congress charged with insider trading, Reps. Tom Reed and Kathleen Rice will introduce a House resolution to prohibit fellow legislators from serving on corporate boards.
CFPB amends Gramm-Leach-Bliley Act's privacy notice requirement
The CFPB will amend the Gramm-Leach-Bliley Act to allow banks that meet certain requirements to be exempt from sending annual privacy notices to their customers.
New Zealand’s financial regulator to financial services firms: Culture is lacking
New Zealand’s Financial Markets Authority, the government agency responsible for financial regulation, on Aug. 9 set out its work plan for the year ahead, as the conduct and culture of the country's financial services industry comes under increased scrutiny.
State AGs push for a beneficial ownership disclosure law
A bipartisan group of 24 attorneys general is urging Congress to advance legislation improving the transparency of shell corporations by requiring them to disclose who controls and profits from their activities.
Foreign deal making, exports face increased scrutiny
New legislation clarifies and strengthens ability of government agencies to review, and potentially block, cross-border deals in the name of national security.
Reading the tea leaves of the Market Integrity and Consumer Fraud Task Force
Compliance, risk, and legal professionals that are not already familiar with the new Task Force on Market Integrity and Consumer Fraud should get up to speed, and fast.
State regulators adopt single exam for mortgage licensing
The Conference of State Bank Supervisors has announced that all U.S. states can now use a single, common exam to assess mortgage loan originators.
As technology evolves, so do accounting and finance leaders
A new study from Robert Half and the Financial Executives Research Foundation reveals how evolving technology is rapidly enhancing the accounting and finance functions.
Public comments on SEC’s ‘best interest’ rule hit a deadline
The general public, ahead of Tuesday’s deadline for public comment, has offered constructive criticism of the SEC’s Regulation Best Interest.
FASB seeks preparer input on segment reporting ideas
To help figure out what to do to improve segment reporting, FASB is looking for public companies to participate in a study.
SEC urged to boost crowdfunding cap
Crowdfunding evangelists are asking the SEC to consider raising the investment cap under Regulation Crowdfunding from $1 million to $20 million.
Companies shift gears in final push to adopt lease rules
The countdown to new lease accounting is causing some companies to shift gears, concerned they can’t make the deadline following their original adoption plans.
Implementing the FRC’s ‘Guidance on the Strategic Report’
The Financial Reporting Council has published revised guidance addressing strategic reports, aiming to help organizations make such reports more informative and relevant to stakeholders.
SEC plans roundtable on proxy access
The Securities and Exchange Commission will host a roundtable later this year to hear from investors, issuers, and other market participants about whether its proxy rules should be refined.
IRS, Treasury float rules on foreign earnings under tax reform
The IRS and Treasury have issued proposed regulations on how they envision implementing tax reform rules around repatriation of foreign earnings.
Government clears way for FinTech firms to compete with banks
In separate developments announced July 31, the U.S. Department of Treasury and the Office of the Comptroller of the Currency paved the way for FinTech firms and other non-banks to more easily compete with traditional banks. Once again, opponents are threatening legal action.