A global pandemic, an unprecedented flow of government money, and a weakening of lending controls could create a perfect storm of opportunity for fraudsters.
Regulatory Policy
Posted inRegulatory Policy
SEC’s Clayton stresses importance of coronavirus disclosures
With the close of the first quarter and earnings releases and investor calls around the corner, senior leadership at the SEC is pushing for full disclosure transparency regarding impact of the coronavirus pandemic.
Posted inRegulatory Enforcement
FinCEN, OCC offer BSA compliance relief amid pandemic
Two federal agencies that oversee Bank Secrecy Act requirements have notified financial institutions they will agree to “reasonable delays” in the filing of required reports if institutions can show the delays are necessary due to the coronavirus pandemic.
Posted inRegulatory Enforcement
Regulatory slowdown due to coronavirus makes compliance role critical
The ongoing pandemic is limiting investigations into most types of white-collar crimes as federal enforcement agencies refocus their attention on coronavirus-related matters.
Posted inRegulatory Policy
SEC won’t delay Reg BI amid pandemic
The Securities and Exchange Commission has no plans to delay its controversial Regulation Best Interest rule despite the impact the ongoing coronavirus pandemic has had on U.S. markets.
Posted inRegulatory Policy
Comparing the coronavirus stimulus package to 2008 relief
Unprecedented in scope, Congress’ $2 trillion coronavirus stimulus package significantly dwarfs relief packages passed during the 2008 financial crisis while also reflecting some lessons learned.
Posted inRegulatory Policy
SEC provides new coronavirus disclosure guidance
The SEC’s Division of Corporation Finance published guidance to provide clarity regarding its view on disclosure and other securities law obligations during the escalating coronavirus pandemic.
Posted inInternal Controls
So your company’s CEO has coronavirus. Does the world have to know?
As infections stemming from the coronavirus pandemic continue to mount around the world, publicly traded companies face questions about when and where to disclose that their CEO or other key executives have contracted the virus.
Posted inAccounting & Auditing
Coronavirus begins disrupting public companies’ financial reporting
Companies are reporting ways in which the coronavirus pandemic is hurting their bottom lines, as well as steps they are taking to reduce spending as disruptions ripple through their supply chains and rattle their customer bases.
Posted inAccounting & Auditing
SEC filer definition changes aim to promote going public
The SEC’s revisions to definitions of accelerated and large accelerated filers should provide relief to smaller issuers and reduce costs for certain public companies.
