Regulatory Roundup - July 18-24
CBO
Cost Estimate
H.R. 5576, Cyber Deterrence and Response Act of 2018
July 23, 2018
Cost Estimate
S. 2497, United States-Israel Security Assistance Authorization Act of 2018
July 23, 2018
Cost Estimate
H.R. 6206, Coast Guard Blue Technology Center of Expertise Act
July 20, 2018
Cost Estimate
H.R. 4824, Rural Broadband Permitting Efficiency Act of 2018
July 20, 2018
Cost Estimate
H.R. 3906, Innovative Stormwater Infrastructure Act of 2018
July 20, 2018
Cost Estimate
H.R. 6142, Reducing Drug Waste Act of 2018
July 20, 2018
Cost Estimate
H.R. 5979, Mill Springs Battlefield National Monument Act
July 20, 2018
Cost Estimate
H.R. 6226, American Space Situational Awareness and Framework for Entity Management Act
July 20, 2018
Cost Estimate
H.R. 6227, National Quantum Initiative Act
July 20, 2018
Cost Estimate
H.R. 4881, Precision Agriculture Connectivity Act of 2018
July 20, 2018
Cost Estimate
H.R. 2345, National Suicide Hotline Improvement Act of 2018
July 20, 2018
Report
CBO’s Estimates of the Effects of Changes in the Manufacturers’ Discount in the Part D Coverage Gap
July 20, 2018
Report
Follow-Up About the Budgetary Treatment of Cost-Sharing Reductions
July 20, 2018
Cost Estimate
H.R. 2409, a bill to allow service members to terminate their cable, satellite television, and Internet access service contracts while deployed
July 19, 2018
Cost Estimate
H.R. 5882, Gold Star Spouses Leasing Relief Act
July 19, 2018
Cost Estimate
H.R. 5877, Main Street Growth Act
July 19, 2018
Cost Estimate
H.R. 6077, National Comedy Center Recognition Act
July 19, 2018
Cost Estimate
H.R. 5613, Quindaro Townsite National Commemorative Site Act
July 19, 2018
Cost Estimate
H.R. 5974, Department of Veterans Affairs Creation of On-Site Treatment Systems Affording Veterans Improvements and Numerous General Safety Enhancements Act
July 19, 2018
Cost Estimate
H.R. 5649, Navy SEAL Chief Petty Officer William ‘Bill’ Mulder (Ret.) Transition Improvement Act of 2018
July 19, 2018
Cost Estimate
H.R. 5693, Long-Term Care Veterans Choice Act
July 19, 2018
Cost Estimate
H.R. 5938, Veterans Serving Veterans Act of 2018
July 18, 2018
Cost Estimate
H.R. 5864, VA Hospitals Establishing Leadership Performance Act
July 18, 2018
Cost Estimate
H.R. 2787, Veterans-Specific Education for Tomorrow’s Health Professionals Act
July 18, 2018
FASB
Registration Opens for CPE Webcast,
In Focus: FASB Update for Accounting Educators
[07/23/18]
News Release
Course Description and Registration
FASB Issues ASU 2018-10—Codification Improvements to Topic 842, Leases [07/18/18]
ASU 2018-10
GAO
Coast Guard Acquisitions:
Actions Needed to Address Longstanding Portfolio Management Challenges
GAO-18-454:Published: Jul 24, 2018. Publicly Released: Jul 24, 2018.
Coast Guard:
Improved Acquisition Portfolio Management Could Help Address Aging Assets and Capability Gaps
GAO-18-629T:Published: Jul 24, 2018. Publicly Released: Jul 24, 2018.
Improvised Threats:
Warfighter Support Maintained, but Clearer Responsibilities and Improved Information Sharing Needed
GAO-18-509:Published: Jul 24, 2018. Publicly Released: Jul 24, 2018.
Strategic Petroleum Reserve:
Observations on the Emergency Stockpile
GAO-18-675T:Published: Jul 24, 2018. Publicly Released: Jul 24, 2018.
VA Disability Benefits:
Some Progress, but Further Steps Needed to Improve Appeals Reform Planning
GAO-18-661T:Published: Jul 24, 2018. Publicly Released: Jul 24, 2018.
Data Act:
Reported Quality of Agencies' Spending Data Reviewed by OIGs Varied Because of Government-wide and Agency Issues
GAO-18-546:Published: Jul 23, 2018. Publicly Released: Jul 23, 2018.
Real Property:
GSA Is Taking Steps to Improve Collection and Reporting of Repair and Alteration Projects' Information
GAO-18-595:Published: Jul 23, 2018. Publicly Released: Jul 23, 2018.
Identity Theft:
IRS Needs to Strengthen Taxpayer Authentication Efforts
GAO-18-418:Published: Jun 22, 2018. Publicly Released: Jul 23, 2018.
Department of Veterans Affairs:
Actions Needed to Address Employee Misconduct Process and Ensure Accountability
GAO-18-137:Published: Jul 19, 2018. Publicly Released: Jul 19, 2018.
Export-Import Bank:
The Bank Needs to Continue to Improve Fraud Risk Management
GAO-18-492:Published: Jul 19, 2018. Publicly Released: Jul 19, 2018.
Force Structure:
F-22 Organization and Utilization Changes Could Improve Aircraft Availability and Pilot Training
GAO-18-190:Published: Jul 19, 2018. Publicly Released: Jul 19, 2018.
Highway and Transit Projects:
Better Data Needed to Assess Changes in the Duration of Environmental Reviews
GAO-18-536:Published: Jul 19, 2018. Publicly Released: Jul 19, 2018.
Puget Sound Restoration:
Additional Actions Could Improve Assessments of Progress
GAO-18-453:Published: Jul 19, 2018. Publicly Released: Jul 19, 2018.
Civil Penalties:
Certain Federal Agencies Need to Improve Inflation Adjustment Reporting
GAO-18-519:Published: Jul 18, 2018. Publicly Released: Jul 18, 2018.
DNA Evidence:
Preliminary Observations on DOJ's DNA Capacity Enhancement and Backlog Reduction Grant Program
GAO-18-651T:Published: Jul 18, 2018. Publicly Released: Jul 18, 2018.
Reverse Auctions:
Additional Guidance Could Help Increase Benefits and Reduce Fees
GAO-18-446:Published: Jul 18, 2018. Publicly Released: Jul 18, 2018.
Securities Regulation:
SEC Inspections of Financial Industry Regulatory Authority's Governance Were Consistent with Internal Guidance
GAO-18-522:Published: Jul 18, 2018. Publicly Released: Jul 18, 2018.
Drug Discount Program:
Characteristics of Hospitals Participating and Not Participating in the 340B Program
GAO-18-521R:Published: Jun 18, 2018. Publicly Released: Jul 18, 2018.
IASB
20 July 2018
July IASB Update published and work plan updated
19 July 2018
Webcast: IASB’s preferred approach to classification of financial instruments—FICE Discussion Paper
18 July 2018
Erkki Liikanen appointed as Chair of the IFRS Foundation Trustees
IRS
Tax Security 101: Tax professionals must use strong passwords, encryption to protect taxpayer data
IR-2018-151, July 24, 2018 – The Internal Revenue Service and its Security Summit partners today urged all tax professionals to use strong passwords to protect accounts from cyberthieves and to consider encryption for all sensitive data.
NYS Dept. of Taxation and Finance
Tax Preparer Arrested For Fraudulent Scheme To Steal Over $1 Million From His Clients
SEC
SEC Detects Silicon Valley Executive’s Insider Trading
Washington D.C., July 24, 2018—The Securities and Exchange Commission today announced that a senior executive at a Silicon Valley fiber optics company has agreed to settle charges that he made nearly $200,000 in illicit profits by trading on inside information in advance of three disappointing earnings announcements by the company.
SEC Charges Failed Fyre Festival Founder and Others With $27.4 Million Offering Fraud
Washington D.C., July 24, 2018—The Securities and Exchange Commission today announced that New York entrepreneur William Z. (Billy) McFarland, two companies he founded, a former senior executive, and a former contractor agreed to settle charges arising out of an extensive, multi-year offering fraud that raised at least $27.4 million from over 100 investors.
SEC Charges Mizuho Securities for Failure to Safeguard Customer Information
Washington D.C., July 23, 2018 —The Securities and Exchange Commission today charged Mizuho Securities USA LLC for its failure to safeguard information pertaining to stock buybacks by its issuer customers. Mizuho failed to maintain and enforce policies and procedures aimed at preventing the misuse of material nonpublic information, including maintaining effective information barriers between different trading desks and requiring employees to keep client information confidential. Mizuho agreed to settle the charges and will pay a $1.25 million penalty.
Julie Lutz, Regional Director of the Denver Regional Office, to Leave SEC After More Than 40 Years Serving Investors
Washington D.C., July 23, 2018 —The Securities and Exchange Commission today announced that Julie K. Lutz, the Regional Director of the SEC’s Denver Regional Office, will leave the agency at the end of this month after more than 40 years of service. Ms. Lutz has served at the helm of the SEC’s Denver office since November 2013, overseeing the agency’s enforcement and examinations in a seven-state region. Before her appointment to regional director, Ms. Lutz supervised the enforcement program in the Denver office as an associate director, and managed the Denver trial unit as regional trial counsel. She joined the SEC staff in 1977 and worked in San Francisco and Washington D.C. before moving to the Denver office in 1996.
Deutsche Bank to Pay Nearly $75 Million for Improper Handling of ADRs
Washington D.C., July 20, 2018 —The Securities and Exchange Commission today announced that two U.S.-based subsidiaries of Deutsche Bank AG will pay nearly $75 million to settle charges of improper handling of “pre-released” American Depositary Receipts (ADRs).
SEC Charges Investment Adviser and CEO With Misleading Retail Investors
Washington D.C., July 18, 2018 —The Securities and Exchange Commission today charged a Connecticut-based investment advisory firm and its chief executive officer with putting $19 million of investor money, including elderly investors’ retirement savings and pension plans, in risky investments and secretly pocketing hefty commissions from those investments.
SEC Adopts Rules to Enhance Transparency and Oversight of Alternative Trading Systems
Washington D.C., July 18, 2018—The Securities and Exchange Commission today announced it has voted to adopt amendments to Regulation ATS to enhance operational transparency and regulatory oversight of alternative trading systems (ATSs) that trade stocks listed on a national securities exchange.