Regulatory Roundup: Nov. 7-13
AICPA
Press Release
AICPA Comments on Treasury and IRS Guidance Regarding Executive Compensation
The AICPA asked for safe harbors and clarification of definitions in its letter.
November 7, 2018
CBO
Report
The Distribution of Household Income, 2015
November 8, 2018
Cost Estimate
S. 2599, Leech Lake Band of Ojibwe Reservation Restoration Act
November 7, 2018
Cost Estimate
S. 2249, Rio Puerco Watershed Management Program Reauthorization Act
November 7, 2018
Cost Estimate
S. 2290, Wildfire Management Technology Advancement Act of 2018
November 7, 2018
Cost Estimate
S. 685, Clean Water for Rural Communities Act
November 7, 2018
Cost Estimate
H.R. 132, Arbuckle Project Maintenance Complex and District Office Conveyance Act of 2017
November 7, 2018
Cost Estimate
H.R. 3608, Endangered Species Transparency and Reasonableness Act
November 7, 2018
Cost Estimate
H.R. 3279, Helium Extraction Act of 2017
November 7, 2018
Cost Estimate
H.R. 6365, Treaty of Guadalupe-Hidalgo Land Claims Act of 2018
November 7, 2018
Cost Estimate
H.R. 2075, Crooked River Ranch Fire Protection Act
November 7, 2018
Report
Monthly Budget Review: Summary for Fiscal Year 2018
November 7, 2018
FASB
FASB Proposes Improvements to Accounting for Episodic Television Series [11/07/18]
Media Advisory
Exposure Document
GAO
Financial Audit:
IRS's Fiscal Years 2018 and 2017 Financial Statements
GAO-19-150:Published: Nov 9, 2018. Publicly Released: Nov 9, 2018.
Financial Audit:
Office of Financial Stability (Troubled Asset Relief Program) Fiscal Years 2018 and 2017 Financial Statements
GAO-19-152R:Published: Nov 9, 2018. Publicly Released: Nov 9, 2018.
Agreed-Upon Procedures:
Fiscal Year 2018 Excise Tax Distributions to the Airport and Airway and Highway Trust Funds
GAO-19-151R:Published: Nov 8, 2018. Publicly Released: Nov 8, 2018.
Arctic Planning:
Navy Report to Congress Aligns with Current Assessments of Arctic Threat Levels and Capabilities Required to Execute DOD's Strategy
GAO-19-42:Published: Nov 8, 2018. Publicly Released: Nov 8, 2018.
Defense Management:
DOD Should Take Additional Actions to Enhance Corrosion Prevention and Mitigation Efforts
GAO-19-39:Published: Nov 8, 2018. Publicly Released: Nov 8, 2018.
Financial Audit:
Bureau of the Fiscal Service's Fiscal Years 2018 and 2017 Schedules of Federal Debt
GAO-19-113:Published: Nov 8, 2018. Publicly Released: Nov 8, 2018.
Grade-Crossing Safety:
DOT Should Evaluate Whether Program Provides States Flexibility to Address Ongoing Challenges
GAO-19-80:Published: Nov 8, 2018. Publicly Released: Nov 8, 2018.
VA Disability Exams:
Improved Performance Analysis and Training Oversight Needed for Contracted Exams
GAO-19-13:Published: Oct 12, 2018. Publicly Released: Nov 8, 2018.
Global Development Lab:
USAID Leverages External Contributions but Needs to Ensure Timely Data and Transparent Reporting
GAO-19-46:Published: Nov 7, 2018. Publicly Released: Nov 7, 2018.
Inland Waterways:
Actions Needed to Increase Budget Transparency and Contracting Efficiency
GAO-19-20:Published: Nov 7, 2018. Publicly Released: Nov 7, 2018.
IASB
13 November 2018
Event reminder: 'Debt or equity? That is the question.'—Brussels, 26 November 2018
12 November 2018
Research Forum: academia's input to the IASB's work
07 November 2018
Summary of October 2018 ASAF meeting available
IRS
For Tax Year 2017, e-file closes on Nov. 17; After that, disaster victims, others need to file on paper
IR-2018-218, Nov. 9, 2018 —The IRS today reminded people, including those in disaster areas, who want to file a 2017 tax return electronically to do so by Saturday, Nov. 17, 2018.
Get Ready for Taxes: Here’s how the new tax law revised family tax credits
IR-2018-217, Nov. 7, 2018 ― More families will be able to get more money under the newly-revised Child Tax Credit, according to the IRS.
IRS issues final regulations, expanding paid preparer due diligence requirement to head of household filers
IR-2018-216, November 7, 2018 — The Treasury Department and the Internal Revenue Service today issued final regulations expanding the long-standing paid preparer due diligence requirement to include individual income tax returns claiming the head of household filing status.
NYS Dept. of Taxation and Finance
Valuable Tax Credits and Exemptions for Veterans
November 09, 2018
PCAOB
Torrie Miller Matous Named PCAOB Director of Newly Formed Office of External Affairs (Nov. 12)
PCAOB Announces Agenda for Nov. 29 Standing Advisory Group Meeting (Nov. 9)
PCAOB to Consider 2019 Budget and Five-Year Strategic Plan at Open Meeting (Nov. 7)
SEC
SEC Announces Agenda, Panelists for Staff Roundtable on the Proxy Process
Washington D.C., Nov. 8, 2018 —The Securities and Exchange Commission today announced the agenda and panelists for the staff roundtable on the proxy process on November 15, 2018. The roundtable, announced in September, will begin at 9:30 a.m. in the auditorium at the SEC headquarters at 100 F Street, N.E., Washington, D.C. and will be open to the public. The event also will be webcast live on the SEC website and archived for later viewing. Members of the public who wish to provide their views on the proxy process and related SEC rules, either in advance of or after the roundtable, may submit comments electronically or on paper.
Stock Research Firm and Co-Founders Charged With Deceiving Investors in Supposedly Unbiased Reports
Washington D.C., Nov. 8, 2018 —The Securities and Exchange Commission today charged a stock research firm and its co-founders with defrauding investors by issuing reports purportedly based on “unbiased” and “not paid for” research when in reality they received thousands of dollars from issuers as a condition to providing each report.
SEC Charges EtherDelta Founder With Operating an Unregistered Exchange
Washington D.C., Nov. 8, 2018 —The Securities and Exchange Commission today announced settled charges against Zachary Coburn, the founder of EtherDelta, a digital "token" trading platform. This is the SEC's first enforcement action based on findings that such a platform operated as an unregistered national securities exchange. According to the SEC's order, EtherDelta is an online platform for secondary market trading of ERC20 tokens, a type of blockchain-based token commonly issued in Initial Coin Offerings (ICOs). The order found that Coburn caused EtherDelta to operate as an unregistered national securities exchange.
Investor Testing of the Proposed Relationship Summary for Investment Advisers and Broker-Dealers
Washington D.C., Nov. 7, 2018 —In connection with our ongoing efforts to help address investor confusion about the nature of their relationships with investment advisers and broker-dealers, the SEC’s Office of the Investor Advocate today made available a report on investor testing conducted by the RAND Corporation. The investor testing gathered feedback on a sample Relationship Summary issued in April 2018 as part of a package of proposed rulemakings and interpretations designed to enhance the quality and transparency of investors’ relationships with investment advisers and broker-dealers. The report is available for review and comment on the SEC’s website.
Citibank to Pay More Than $38 Million for Improper Handling of ADRs
Washington D.C., Nov. 7, 2018 —The Securities and Exchange Commission today announced that Citibank N.A. has agreed to pay $38.7 million to settle charges of improper handling of “pre-released” American Depositary Receipts (ADRs).