AICPA

AICPA Recognizes Outstanding Contributors to Forensic and Valuation Fields
The AICPA is pleased to honor the contributions of nine CPAs during the 2021 AICPA Forensic and Valuation Services Conference held in Las Vegas.
Accounting & Financial ReportingValuation ServicesFair Value Accounting & Valuation
Nov 14, 2021

CBO

Blog Post
CBO Releases Supplemental Information About the Build Back Better Act
November 23, 2021
CBO releases slides about policies in the Build Back Better Act: expanding subsidized child care and providing universal preschool; offering family and medical leave; expanding certain services in Medicaid; and redesigning Medicare Part D.

Presentation
Economic Effects of Expanding Home- and Community-Based Services in Medicaid
November 23, 2021
The Build Back Better Act includes provisions that would result in new federal spending for home- and community-based services (HCBS) provided by Medicaid. Those provisions would affect states, caregivers, and people who use HCBS.

Presentation
Economic Effects of Expanding Subsidized Child Care and Providing Universal Preschool
November 23, 2021
The Build Back Better Act would expand federal subsidies for child care and provide universal preschool at no cost for eligible children. Those policies would affect child care workers (including teachers) and families with children.

Presentation
Economic Effects of Offering a Federal Paid Family and Medical Leave Program
November 23, 2021
The Build Back Better Act would establish a program whereby the federal government would provide paid family and medical leave for eligible workers. That program would affect workers, employers, and states.

Presentation
Paying for Drugs in Medicare Part D Under Current Law and Under Proposals to Redesign the Program
November 23, 2021
In 2020, about three-fourths of Medicare beneficiaries were enrolled in Part D, the optional prescription drug benefit. They obtain coverage from private insurers, either through a stand-alone drug plan or through a Medicare Advantage plan.

Cost Estimate
S. 2993, CISA Cyber Exercise Act
November 23, 2021
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on November 3, 2021

Cost Estimate
H.R. 5658, DHS Roles and Responsibilities in Cyber Space Act
November 22, 2021
As ordered reported by the House Committee on Homeland Security on October 26, 2021

Presentation

Policy Alternatives for Long-Term Services and Supports
November 19, 2021
Presentation by Alice Burns and Jaeger Nelson, analysts in CBO’s Budget Analysis Division and Macroeconomic Analysis Division, to the National Tax Association.

Cost Estimate
S. 658, National Cybersecurity Preparedness Consortium Act of 2021
November 19, 2021
As ordered reported by the House Committee on Homeland Security on October 26, 2021

Blog Post
CBO to Publish a Complete Cost Estimate for H.R. 5376, the Build Back Better Act, This Afternoon
November 18, 2021
CBO will publish a complete cost estimate for H.R. 5376, the Build Back Better Act, this afternoon. CBO has published 11 estimates for individual titles of the bill and will publish estimates for the remaining two titles this afternoon.

Cost Estimate
Estimated Budgetary Effects of Title III, Committee on Energy and Commerce, H.R. 5376, the Build Back Better Act
November 18, 2021
As Posted on the Website of the House Committee on Rules on November 3, 2021 (Rules Committee Print 117-18), as Amended by Yarmuth Amendment 112

Cost Estimate
Estimated Budgetary Effects of Title VI, Committee on the Judiciary, H.R. 5376, the Build Back Better Act
November 18, 2021
As Posted on the Website of the House Committee on Rules on November 3, 2021 (Rules Committee Print 117-18), as Amended by Yarmuth Amendment 112

Cost Estimate
Estimated Budgetary Effects of Title XIII, Committee on Ways and Means, H.R. 5376, the Build Back Better Act
November 18, 2021
As Posted on the Website of the House Committee on Rules on November 3, 2021 (Rules Committee Print 117-18), as Amended by Yarmuth Amendment 112

Report
Estimated Revenue Effects of Increased Funding for the Internal Revenue Service in H.R. 5376, the Build Back Better Act
November 18, 2021
CBO estimates that the funding for tax enforcement activities provided by H.R. 5376, the Build Back Better Act, would increase outlays by $80 billion and revenues by $207 billion, thus decreasing the deficit by $127 billion, through 2031.

Cost Estimate
Summary of Cost Estimate for H.R. 5376, the Build Back Better Act
November 18, 2021
As Posted on the Website of the House Committee on Rules on November 3, 2021 (Rules Committee Print 117-18), as Amended by Yarmuth Amendment 112

Cost Estimate
Estimated Budgetary Effects of Title II, Committee on Education and Labor, H.R. 5376, the Build Back Better Act
November 17, 2021
As Posted on the Website of the House Committee on Rules on November 3, 2021 (Rules Committee Print 117-18), as Amended by Yarmuth Amendment 112

Cost Estimate
Estimated Budgetary Effects of Title VII, Committee on Natural Resources, H.R. 5376, the Build Back Better Act
November 17, 2021
As Posted on the Website of the House Committee on Rules on November 3, 2021 (Rules Committee Print 117-18), as Amended by Yarmuth Amendment 112

Working Paper
How CBO Estimates the Market Risk of Federal Credit Programs: Working Paper 2021-14
November 16, 2021
This paper describes the methods and data that CBO uses to estimate the cost of market risk for three categories of federal credit programs: housing and real estate loans, student loans and other consumer loans, and commercial loans.

Blog Post
CBO to Release a Complete Cost Estimate for H.R. 5376, the Build Back Better Act, by November 19
November 15, 2021
CBO anticipates publishing a complete cost estimate for H.R. 5376, the Build Back Better Act (Rules Committee Print 117-18 incorporating a manager’s amendment by Congressman Yarmuth), by the end of the day on Friday, November 19.

Cost Estimate
CBO’s Estimate of the Statutory Pay-As-You-Go Effects of H.R. 5603, Protections for Student Veterans Act
November 15, 2021
As Ordered Reported by the House Committee on Veterans’ Affairs on November 4, 2021

Cost Estimate
Estimated Budgetary Effects of Title I, Committee on Agriculture, H.R. 5376, the Build Back Better Act
November 15, 2021
As Posted on the Website of the House Committee on Rules on November 3, 2021 (Rules Committee Print 117-18), as Amended by Yarmuth Amendment 112

Cost Estimate
Estimated Budgetary Effects of Title IV, Committee on Financial Services, H.R. 5376, the Build Back Better Act
November 15, 2021
As Posted on the Website of the House Committee on Rules on November 3, 2021 (Rules Committee Print 117-18), as Amended by Yarmuth Amendment 112

Cost Estimate
H.R. 4133, Caribbean Basin Security Initiative Authorization Act
November 15, 2021
As ordered reported by the House Committee on Foreign Affairs on August 30, 2021

Cost Estimate
Legislation considered under suspension of the Rules of the House of Representatives during the week of November 15, 2021
November 15, 2021
The Majority Leader of the House of Representatives announces bills that will be considered under suspension of the rules in that chamber. CBO estimates the effects of those bills on direct spending and revenues.

FAF

FAF Trustees Reappoint Michael Morrow as FASAC Chair  [11/16/21]
News Release

Financial Accounting Foundation Names Paul Hensley to the Private Company Council  [11/16/21]
News Release

FAF Trustees Reappoint Marsha L. Hunt to the Financial Accounting Standards Board (FASB)  [11/16/21]
News Release

Financial Accounting Foundation Trustees Announce Appointment of Jacqueline Reck and Reappointment of Kristopher Knight to the Governmental Accounting Standards Board (GASB)  [11/16/21]
News Release

Financial Accounting Foundation Names Four New Members to the Board of Trustees  [11/16/21]
News Release

FASB

FASB Proposes Expanded Disclosures and Improved Accounting Related to the Credit Losses Standard  [11/23/21]
Media Advisory|
Exposure Document

Statement of FASB Chair Richard R. Jones Remembering Atsushi Kogasaka, Chair of the Accounting Standards Board of Japan  [11/22/21]
Media Advisory

Investor Advisory Committee  [11/18/21]
November 9, 2021 Meeting Recap

FASB Improves Transparency around Government Grants  [11/17/21]
Media Advisory|
ASU 2021-10

Financial Accounting Foundation Names Four New Members to the Board of Trustees  [11/16/21]
News Release

FAF Trustees Reappoint Michael Morrow as FASAC Chair  [11/16/21]
News Release

Financial Accounting Foundation Names Paul Hensley to the Private Company Council  [11/16/21]
News Release

FAF Trustees Reappoint Marsha L. Hunt to the Financial Accounting Standards Board (FASB)  [11/16/21]
News Release

GAO

K-12 Education
Students' Experiences with Bullying, Hate Speech, Hate Crimes, and Victimization in Schools
GAO-22-104341
Published: Nov 24, 2021.
Publicly Released: Nov 24, 2021.
Each year, millions of K-12 students experience hostile behaviors like bullying, hate speech, hate crimes, or assault. In school year 2018-19, about 1.3 million students, ages 12 to 18, were bullied for their race, religion, national origin, disability, gender, or sexual orientation.

Critical Infrastructure Protection
CISA Should Assess the Effectiveness of its Actions to Support the Communications Sector
GAO-22-104462
Published: Nov 23, 2021.
Publicly Released: Nov 23, 2021.
The communications sector—comprising mostly private broadcast, cable, satellite, wireless, and wired systems and networks—is vital to national security.

Homelessness
HUD Should Help Communities Better Leverage Data to Estimate Homelessness
GAO-22-104445
Published: Nov 22, 2021.
Publicly Released: Nov 22, 2021.
The Department of Housing and Urban Development takes a "point-in-time" count to gauge how many people are experiencing homelessness on a single night. HUD relies on local communities to provide the count.

Digital Services
Considerations for a Federal Academy to Develop a Pipeline of Digital Staff
GAO-22-105388
Published: Nov 19, 2021.
Publicly Released: Nov 19, 2021.
The federal government faces a severe shortage of digital expertise in fields such as artificial intelligence and cybersecurity. A recent report urged establishing a new service academy—similar to the military academies—to train future digital civil servants.

Drug Development
Pathway for Approving Antibacterial and Antifungal Drugs for Patients with Limited Treatment Options is Infrequently Used
GAO-22-105042
Published: Nov 19, 2021.
Publicly Released: Nov 19, 2021.
Antibiotic- and antifungal-resistant infections pose a serious public health issue. Yet there may not be a sufficient number of drugs in development to meet this threat.

Digital Services
Considerations for a Federal Academy to Develop a Pipeline of Digital Staff
GAO-22-105388
Published: Nov 19, 2021.
Publicly Released: Nov 19, 2021.
The federal government faces a severe shortage of digital expertise in fields such as artificial intelligence and cybersecurity. A recent report urged establishing a new service academy—similar to the military academies—to train future digital civil servants.

Bureau of Land Management
Better Workforce Planning and Data Would Help Mitigate the Effects of Recent Staff Vacancies
GAO-22-104247
Published: Nov 16, 2021.
Publicly Released: Nov 18, 2021.
After the Bureau of Land Management announced in July 2019 that it was relocating its headquarters from Washington, D.C., to Grand Junction, Colorado, many headquarters staff left the agency—increasing vacancies by about 169%.

Emergency Watershed Protection
Assistance Program Helps Meet Post-Disaster Needs and Could Be Improved with Additional Guidance
GAO-22-104326
Published: Oct 28, 2021.
Publicly Released: Nov 18, 2021.
Natural disasters such as hurricanes, floods, and wildfires can threaten life and property even after the disaster has passed. There can be increased risk of erosion, flooding, and more.

VA Acquisition Management
Fundamental Challenges Could Hinder Supply Chain Modernization Efforts if Not Addressed
GAO-22-105483
Published: Nov 18, 2021.
Publicly Released: Nov 18, 2021.
We testified about the VA's long-standing problems with acquisition management and efforts to modernize its supply chain. We added VA acquisition management to our High Risk List in 2019.

U.S. International Development Finance Corporation
Actions Needed to Improve Management of Defense Production Act Loan Program
GAO-22-104511
Published: Nov 17, 2021.
Publicly Released: Nov 17, 2021.
An executive order called for a DOD-funded domestic loan program to help increase production of critical COVID-related items. Per the order, the U.S. International Development Finance Corporation—an agency that manages international development investments—runs the program.

Medicare
Information on the Transition to Alternative Payment Models by Providers in Rural, Health Professional Shortage, or Underserved Areas
GAO-22-104618
Published: Nov 17, 2021.
Publicly Released: Nov 17, 2021.
To save money and improve health care quality, Medicare has been trying alternative payment models for reimbursing providers. Some models require providers to use electronic health records or to accept financial risk.

DOD and VA Health Care
Suicide Prevention Efforts and Recommendations for Improvement
GAO-22-105522
Published: Nov 17, 2021.
Publicly Released: Nov 17, 2021.
Suicide is a public health problem facing all populations, and has been a persistent and growing issue for the nation's service members and veterans.

Border Security Metrics
Progress Made, but DHS Should Take Additional Steps to Improve Information Quality
GAO-22-104651
Published: Nov 16, 2021.
Publicly Released: Nov 16, 2021.
The Department of Homeland Security is required by law to report annually on 43 specific measures of border security effectiveness. We regularly assess the quality of its reports. DHS reported on more of the metrics—37 out of the 43—in its 2019 report than it has previously.

Department of Energy
Improvements Needed to Strengthen Strategic Planning for the Acquisition Workforce
GAO-22-103854
Published: Nov 16, 2021.
Publicly Released: Nov 16, 2021.
The Department of Energy primarily relies on contractors to carry out its diverse missions, which range from energy development and scientific research to nuclear security. DOE's contract and project management is a topic on our High Risk List.

Coast Guard
Actions Needed to Better Manage Shore Infrastructure
GAO-22-105513
Published: Nov 16, 2021.
Publicly Released: Nov 16, 2021.
We testified about the challenges the U.S. Coast Guard faces managing its aging shore infrastructure—its piers, boat stations, runways, etc.—almost half of which is beyond its service life.

Vaccine Development
Capabilities and Challenges for Addressing Infectious Diseases
GAO-22-104371
Published: Nov 16, 2021.
Publicly Released: Nov 16, 2021.
The CARES Act requires GAO to look at the government's response to the COVID-19 pandemic, including vaccine development. Vaccines prepare the body to respond quickly to an infection and play a key role in keeping people and global communities healthy.

Federal Lands Snapshot
Hardrock Mining Systems
GAO-22-105438
Published: Nov 16, 2021.
Publicly Released: Nov 16, 2021.
Federal lands are a major source of hardrock minerals such as gold, silver, and copper. These minerals have an important role in the U.S. and global economies, but mining them can create public health, safety, and environmental hazards.

Opportunity Zones
Data on Investment Activity and IRS Challenges Ensuring Taxpayer Compliance
GAO-22-105526
Published: Nov 16, 2021
Publicly Released: Nov 16, 2021.
Congress created the Opportunity Zones incentive to spur investment in distressed communities. Taxpayers who invest in Qualified Opportunity Funds—which invest in zones—can get significant tax benefits.

Financial Audit
Securities and Exchange Commission's FY 2021 and 2020 Financial Statements
GAO-22-104738
Published: Nov 15, 2021
Publicly Released: Nov 15, 2021.
The Securities and Exchange Commission enforces securities laws that protect investors. The SEC collected $2.8 billion in penalties for securities law violations in FY21. Some of that goes to the Investor Protection Fund, which rewards whistleblowers and supports investor education.

Financial Audit
Federal Housing Finance Agency's FY 2021 and FY 2020 Financial Statements
GAO-22-105109
Published: Nov 15, 2021.
Publicly Released: Nov 15, 2021.
The Federal Housing Finance Agency's goal is to keep the housing finance system healthy by supervising and regulating Fannie Mae, Freddie Mac, and the Federal Home Loan Bank System. The agency spent $317.6 million in FY 2021 to do its work.

Financial Audit
Federal Housing Finance Agency's FY 2021 and FY 2020 Financial Statements
GAO-22-105109
Published: Nov 15, 2021.
Publicly Released: Nov 15, 2021.
The Federal Housing Finance Agency's goal is to keep the housing finance system healthy by supervising and regulating Fannie Mae, Freddie Mac, and the Federal Home Loan Bank System. The agency spent $317.6 million in FY 2021 to do its work.

Financial Audit
Consumer Financial Protection Bureau's FY 2021 and FY 2020 Financial Statements
GAO-22-105067
Published: Nov 15, 2021.
Publicly Released: Nov 15, 2021.
The Consumer Financial Protection Bureau (CFPB) works to enhance citizens' financial education and ensure that banks, lenders, and other financial companies treat people fairly. The agency spent $711.8 million in FY 2021 to do its work.

IASB

November 2021 IFRS Taxonomy Consultative Group meeting papers now available
29 November 2021

IFRS Foundation appoints Jorge Familiar and Keiko Tashiro as new Trustees
29 November 2021

IASB proposes disclosure requirements to enhance the transparency of supplier finance arrangements
26 November 2021

Reminder call for papers on corporate disclosures
24 November 2021

November 2021 Islamic Finance Consultative Group meeting papers available now
23 November 2021

IASB proposes narrow-scope amendments to IAS 1 to improve information about long-term debt with covenants
19 November 2021

IFRS - IASB Update November 2021

December 2021 Accounting Standards Advisory Forum meeting papers available

November 2021 IFRS Interpretations Committee agenda and meeting papers available

September 2021 IFRS Taxonomy Consultative Group meeting summary available
16 September 2021

IRS

Taxpayer alert as holidays, tax season approach: Watch out for scams, protect financial information; National Tax Security Awareness Week, Day 1 highlights important tips
IR-2021-236, November 29, 2021 — Kicking off a special week, the Internal Revenue Service and the Security Summit partners today warned taxpayers and tax professionals to beware of a dangerous combination of events that can increase their exposure to tax scams or identity theft.

Child Tax Credit payments: IRS online portal now available in Spanish; Nov. 29 is last day for families to opt out or make other changes
IR-2021-235, November 23, 2021 — The Internal Revenue Service this week launched a new Spanish-language version of the Child Tax Credit Update Portal (CTC-UP).

Interest rates remain the same for the first quarter of 2022 
IR-2021-234, November 23, 2021 — The Internal Revenue Service today announced that interest rates will remain the same for the calendar quarter beginning January 1, 2022.

Scam risks remain during pandemic; Security Summit focuses special week on taxpayer, tax professional protection against identity theft
IR-2021-233, November 19, 2021 — With the 2022 tax season and the holidays rapidly approaching, the Internal Revenue Service, state tax agencies and the nation's tax industry today announced a special week focusing attention on taxpayers protecting sensitive financial information against identity thieves.

IRS Criminal Investigation releases annual report highlighting 2,500+ investigations, law enforcement partnerships
IR-2021-232, November 18, 2021 — Over 2,500 criminal investigations, the identification of more than $10 billion from tax fraud and financial crimes, and a nearly 90% conviction rate are just a few highlights from the IRS-Criminal Investigation (IRS-CI) Fiscal Year 2021 Annual Report. 

IRS provides answers to states and local governments on taxability and reporting of payments from Coronavirus State and Local Fiscal Recovery Funds
IR-2021-231, November 17, 2021 — IRS provides answers to states and local governments on taxability and reporting of payments from Coronavirus State and Local Fiscal Recovery Funds.

IRS: All of Mississippi now qualifies for expanded Hurricane Ida relief; Sept. 15, Oct. 15 deadlines, other dates extended to Jan. 3 
IR-2021-230, November 17, 2021 — Victims of Hurricane Ida throughout Mississippi now have additional time – until January 3, 2022 – to file various individual and business tax returns and make tax payments, the Internal Revenue Service announced today.

IRS offers how-to videos to help taxpayers apply for Offers in Compromise and avoid scams
IR-2021-229, November 17, 2021 — The Internal Revenue Service today unveiled a new how-to video series enabling taxpayers to avoid potential scams by considering and applying for an Offer in Compromise (OIC) themselves and avoid paying excessive fees to companies advertising outlandish claims.

IRS unveils new online identity verification process for accessing self-help tools
IR-2021-228, November 17, 2021 — The IRS today announced the launch of an improved identity verification and sign-in process that enables more people to securely access and use IRS online tools and applications.

IRS Advisory Council issues 2021 Annual Report
IR-2021-227, November 17, 2021 — The Internal Revenue Service Advisory Council (IRSAC) today issued its annual report for 2021, including recommendations to the IRS on new and continuing issues in tax administration.

Tax professionals can now order more transcripts from the IRS
IR-2021-226, November 16, 2021 — The Internal Revenue Service today announced that, effective Nov. 15, 2021, tax professionals are able to order up to 30 Transcript Delivery System (TDS) transcripts per client through the Practitioner Priority Service® line.

IRS provides guidance on per diem rates and the temporary 100% deduction for food or beverages from restaurants
IR-2021-225, November 16, 2021 — The Internal Revenue Service today issued Notice 2021-63 to make clear how the temporary 100% business deduction for food or beverages from restaurants applies to taxpayers properly applying the rules of Revenue Procedure 2019-48 for using per diem rates. 

More California wildfire relief from IRS: Sept. 15, Oct. 15 deadlines, other dates further extended to Jan. 3 for certain areas
IR-2021-224, November 15, 2021 — Wildfire victims in parts of California now have until January 3, 2022, to file various individual and business tax returns and make tax payments, the Internal Revenue Service announced today.

IRS announces new online tool to help U.S. withholding agents validate their 1042-S data prior to filing
IR-2021-223, November 15, 2021 — The Internal Revenue Service today launched a new online tool designed to help U.S. withholding agents comply with their reporting and withholding responsibilities with respect to IRS Form 1042-S, Foreign Person’s U.S. Source Income Subject to Withholding.

NYS

Acting Superintendent Adrienne A. Harris Announces DFS Proposed Regulation to Protect Consumers Who Relied on Incorrect Healthcare Provider Network Information
November 24, 2022

Attorney General James Announces Guilty Pleas of Bronx Nonprofit and Executive Director for Stealing Millions of Dollars Intended for Homeless New Yorkers
November 22, 2021

PCAOB

The PCAOB approved its fiscal year 2022 budget at an open meeting.
Nov. 23, 2021

Kara M. Stein sworn in as a PCAOB Board member.
Nov 18, 2021

PCAOB will hold an open meeting on Nov. 23 at 10:00 a.m. ET to consider the adoption of the PCAOB budget for the 2022 fiscal year.
Nov. 17, 2021

SEC Investor Advisory Committee to Meet Remotely on Dec. 2
2021-245, Nov. 24, 2021 —The Securities and Exchange Commission's Investor Advisory Committee will hold a public meeting on Dec. 2 by remote means. The meeting will begin at 10 a.m. ET, is open to the public via live webcast, and will be archived on the committee's website for later viewing.

SEC Charges Oilfield Services Company and Former CEO With Failing to Disclose Executive Perks and Stock Pledges
2021-244, Nov. 22, 2021 — The Securities and Exchange Commission today announced that Texas-based oilfield services company ProPetro Holding Corp. and its founder and former CEO Dale Redman have agreed to settle charges that they failed to properly disclose some of Redman’s executive perks and two stock pledges.

SEC Issues Whistleblower Awards Totaling Approximately $10.4 Million
2021-243, Nov. 22, 2021 —The Securities and Exchange Commission today announced awards totaling approximately $10.4 million to several whistleblowers who provided information and assistance in three separate covered actions.

SEC Appoints Haoxiang Zhu Director of Division of Trading and Markets
2021-242, Nov. 19, 2021 —The Securities and Exchange Commission today announced the appointment of Haoxiang Zhu, a professor of finance at the Massachusetts Institute of Technology, as Director of the agency’s Division of Trading and Markets, effective Dec. 10, 2021. David Saltiel, who has served as Acting Director of the Division for the past several months, has been appointed as one of the Division’s Deputy Directors and also will continue to lead the Office of Analytics and Research.

McKinsey Affiliate to Pay $18 Million for Compliance Failures in Handling of Nonpublic Information
2021-241, Nov. 19, 2021 —The Securities and Exchange Commission today announced that an affiliate of McKinsey & Company that offers investment options exclusively to current and former McKinsey partners and employees has agreed to pay an $18 million penalty for compliance failures. The SEC’s investigation found that the affiliate maintained inadequate policies and procedures to prevent McKinsey partners from misusing material nonpublic information they obtained as consultants to public companies and other McKinsey clients while they were simultaneously overseeing the affiliate’s investment decisions.

SEC Proposes Updates to Electronic Recordkeeping Requirements
2021-240, Nov. 18, 2021 —The Securities and Exchange Commission today published proposed amendments to the electronic recordkeeping and prompt production of records requirements applicable to broker-dealers, security-based swap dealers (SBSDs), and major security-based swap participants (MSBSPs).

SEC Proposes Rule to Provide Transparency in the Securities Lending Market
2021-239, Nov. 18, 2021 —The Securities and Exchange Commission today published proposed Exchange Act Rule 10c-1, which would require lenders of securities to provide the material terms of securities lending transactions to a registered national securities association, such as the Financial Industry Regulatory Authority. The registered national securities association would then make the material terms of the securities lending transaction available to the public.

SEC Announces Enforcement Results for FY 2021
2021-238, Nov. 18, 2021 —The Securities and Exchange Commission today announced that it filed 434 new enforcement actions in fiscal year 2021, representing a 7 percent increase over the prior year. Seventy percent of these new or "stand-alone" actions involved at least one individual defendant or respondent. The new actions spanned the entire securities waterfront, including against emerging threats in the crypto and SPAC spaces. For example, the SEC charged a company for operating an unregistered online digital asset exchange, charged a crypto lending platform and top executives alleging a $2 billion fraud, and brought an action against a special purpose acquisition company, its merger target, top executives, and others for alleged misconduct in a SPAC transaction. The SEC’s whistleblower program was critical to these efforts and had a record-breaking year.

SEC Charges Promoter with Conducting Cryptocurrency Investment Scams
2021-237, Nov. 18, 2021 —The Securities and Exchange Commission today announced that it charged Ryan Ginster of Corona, California with conducting two unregistered and fraudulent securities offerings that raised over $3.6 million in cryptocurrency from retail investors.

SEC Proposes Rule Amendments to Proxy Rules Governing Proxy Voting Advice
2021-236., Nov. 17, 2021 —The Securities and Exchange Commission today voted to propose amendments to its rules governing proxy voting advice.  The proposed amendments aim to address concerns expressed by investors and others that the current rules may impede and impair the timeliness and independence of proxy voting advice and subject proxy voting advice businesses to undue litigation risks and compliance costs

SEC Adopts New Rules for Universal Proxy Cards in Contested Director Elections
2021-235, Nov. 17, 2021 — The Securities and Exchange Commission today voted to adopt final rules requiring parties in a contested election to use universal proxy cards that include all director nominees presented for election at a shareholder meeting. The rule changes will give shareholders the ability to vote by proxy for their preferred combination of board candidates, similar to voting in person

Daniel R. Gregus Named Director of Chicago Office
2021-234, Nov. 15, 2021 — The Securities and Exchange Commission today announced that Daniel R. Gregus has been named Director of the Chicago Regional Office, where he has served as acting co-director since June.