A recent public rulemaking petition asks the SEC to prohibit guidance that becomes binding and enforceable. A separate petition seeks more detailed revenue breakdowns in banks’ 10-K filings.
Joe Mont
Posted inUncategorized
Trump tweet revives a dilemma: Is quarterly reporting hurting companies?
President Trump has asked the SEC for a plan to “stop quarterly reporting and go to a six-month system.” It revives a longstanding, long-debated argument in the corporate and shareholder communities.
Posted inUncategorized
Senators urge social media giants to block 3-D gun blueprints
A group of Senate Democrats is urging leading technology companies to ensure that the publication of 3-D gun printing materials, which violate their terms of service, is not allowed on their platforms.
Posted inUncategorized
Warren bill pitches overhaul of corporate shareholder responsibilities
Sen. Elizabeth Warren (D-Mass.) has introduced a controversial legislative proposal that requires American corporations with more than $1 billion in annual revenue to obtain a federal charter from a newly formed Office of United States Corporations at the Department of Commerce.
Posted inUncategorized
Senate Democrats demand Military Lending Act assurances from CFPB
All 49 Democrats on the U.S. Senate have written to CFPB Director Mick Mulvaney, urging him to forgo reported plans to end examinations for Military Lending Act compliance.
Posted inAML
What casinos, bitcoin tell us about money laundering
During a pair of recent speeches, the director of the Treasury Department’s Financial Crimes Enforcement Network discussed money laundering issues for—and the need for cooperation from—casinos. Another topic: the regulatory perils of virtual currencies.
Posted inRegulatory Enforcement
Citigroup will pay $10.5 million for internal controls failures
The SEC says Citigroup has agreed to pay $10.5 million in penalties to settle two enforcement actions involving its books and records, internal accounting controls,and trader supervision.
Posted inRegulatory Enforcement
Former Columbia anti-corruption official nabbed for bribery
The former national director of anti-corruption in Colombia pleaded guilty this week in federal court for bribery and his participation in a conspiracy to launder money.
Posted inRegulatory Enforcement
RBS faces $4.9B settlement over mortgage-backed securities
The Justice Department announced a $4.9 billion settlement with The Royal Bank of Scotland Group, resolving federal accusations that it misled investors in the regarding residential mortgage-backed securities.
Posted inUncategorized
Legislation seeks crackdown on bank overdraft fees
The recently filed Stop Overdraft Profiteering Act of 2018 would ban overdraft fees on debit card transactions and ATM withdrawals and limit fees placed for checks and recurring payments.
