It is easy to take water for granted, but a new report makes the case that it is behind an increasing number of risks businesses face and dealing with them goes beyond the traditional focus on conservation. The “CDP Global Water Report 2013,” released on Thursday, purports that “a misguided approach to water-related risk management […]
Joe Mont
Posted inFrom the Archive
SEC Pays Out $150,000 to Reward Another Whistleblower
It may not be the big money of a $14 million dollar award doled out earlier this month, but the Securities and Exchange Commission has rewarded yet another whistleblower under a bounty program established by the Dodd-Frank Act.This time, the take was $150,000 for tips that helped stop a scheme that was defrauding investors. The […]
Posted inAccounting & Auditing
Bank Regulator Issues New Guidance on Third-Party Risks
The Office of the Comptroller of the Currency on Wednesday updated its risk management guidance for the third-party relationships of national banks and federal savings associations. The use of third parties, contractual or otherwise, does not diminish the responsibility of the board and management to ensure that all activities conform to sound banking practices and […]
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Treasury Department, IRS Release Long-Awaited FATCA Guidance
The Treasury Department and Internal Revenue Service have issued proposed guidance for foreign financial institutions (FFIs) as they prepare for compliance with the withholding tax provisions and reporting demands of the Foreign Account Tax Compliance Act. The guidance, the latest step in FATCA implementation, provides a draft agreement for participating FFIs and provides advance notice […]
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PwC Looks to Bolster Consulting Practice With Booz Merger
PwC, one of the “big four” accounting firms, has announced an agreement to merge with corporate consulting firm Booz & Company. The proposed transaction, made public on Wednesday morning, is conditional on approval by Booz’s partners, required regulatory approvals, and other closing conditions. Until the results of Booz & Company’s partner vote are known it […]
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CFTC Drops Appeal of Court Ruling that Halted Position Limits
The Commodity Futures Trading Commission today waved the white flag and voluntarily dismissed its appeal of a court ruling that put commodity trading limits in limbo. Instead, the CFTC will craft a new version of the rule. The decision preempts oral arguments that were scheduled to begin in November. A public meeting of commissioners to […]
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SEC Finally Moves on Crowdfunding, but Will It Work?
When it comes to crowdfunding—gathering capital from a large number of investors each with a tiny stake—reactions range from unbridled enthusiasm to a resounding “meh.” Now that the SEC has finally issued a long-delayed proposal for how it will regulate equity crowdfunding, a provision of the JOBS Act, critics and proponents of the capital-raising method […]
Posted inAccounting & Auditing
Beyond Basel, Fed Pitches Stricter Bank Liquidity Requirements
Hoping to never relive the liquidity crisis that hampered America’s banks during the financial crisis, the Federal Reserve Board on Thursday proposed a rule that, for the first time, creates a standardized minimum liquidity requirement for large and internationally active banks, as well as non-banks designated as systemically important by the Financial Stability Oversight Council. […]
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SEC Proposal Brings Crowdfunded Securities Closer to Reality
The expanded use of crowdfunding as a capital raising tool by start-ups and small businesses is closer to reality with proposed rules the Securities and Exchange Commission approved and put out for public comment this morning. The proposed framework establishes guidelines for investors and rules for issuers that want to raise up to $1 million […]
