Regulatory Roundup - Sept. 18-27
CBO
Cost Estimate
H.R. 1297, Air America Act of 2021
September 24, 2021
As ordered reported by the House Committee on Oversight and Reform on May 25, 2021
Cost Estimate
H.R. 2119, Family Violence Prevention and Services Improvement Act of 2021
September 24, 2021
As ordered reported by the House Committee on Education and Labor on July 15, 2021
Cost Estimate
H.R. 4089, Darren Drake Act
September 24, 2021
As reported by the House Committee on Homeland Security on September 14, 2021
Cost Estimate
H.R. 4435, Fight Notario Fraud Act of 2021
September 24, 2021
As ordered reported by the House Committee on the Judiciary on July 21, 2021
Cost Estimate
H.R. 4589, Diversity and Inclusion at the Department of State Act
September 24, 2021
As ordered reported by the House Committee on Foreign Affairs on July 29, 2021
Cost Estimate
H.R. 4682, UAS Act
September 24, 2021
As ordered reported by the House Committee on Homeland Security on July 28, 2021
Cost Estimate
Reconciliation Recommendations of the House Committee on Small Business
September 24, 2021
As ordered reported on September 9, 2021
Cost Estimate
S. 2305, Cybersecurity Opportunity Act
September 24, 2021
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on August 4, 2021
Cost Estimate
S. 2520, State and Local Government Cybersecurity Act of 2021
September 24, 2021
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on August 4, 2021
Cost Estimate
CBO Estimate for H.R. 5305, the Extending Government Funding and Delivering Emergency Assistance Act
September 23, 2021
As Passed by the House of Representatives on September 21, 2021
Presentation
How CBO Adjusts for Underreporting of Means-Tested Transfers in Its Distributional Analyses
September 23, 2021
Presentation by Bilal Habib, an analyst in CBO’s Tax Analysis Division, at the Bureau of Labor Statistics' 2021 Consumption Symposium.
Cost Estimate
H.R. 3372, One Stop Shop Community Reentry Program Act of 2021
September 22, 2021
As ordered reported by the House Committee on the Judiciary on July 21, 2021
Cost Estimate
H.R. 1550, PREVENT HPV Cancers Act of 2021
September 21, 2021
As ordered reported by the House Committee on Energy and Commerce on July 21, 2021
Cost Estimate
H.R. 2355, Opioid Prescription Verification Act of 2021
September 21, 2021
As ordered reported by the House Committee on Energy and Commerce on July 21, 2021
Cost Estimate
H.R. 4686, Cambodia Democracy Act of 2021
September 21, 2021
As ordered reported by the House Committee on Foreign Affairs on July 29, 2021
Cost Estimate
H.R. 550, Immunization Infrastructure Modernization Act of 2021
September 21, 2021
As ordered reported by the House Committee on Energy and Commerce on July 21, 2021
Cost Estimate
H.R. 951, Maternal Vaccination Act
September 21, 2021
As ordered reported by the House Committee on Energy and Commerce on July 21, 2021
Cost Estimate
S. 1995, Sport Fish Restoration and Recreational Boating Safety Act of 2021
September 21, 2021
As ordered reported by the Senate Committee on Commerce, Science, and Transportation on June 16, 2021
Cost Estimate
Legislation considered under suspension of the Rules of the House of Representatives during the week of September 20, 2021
September 20, 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.
Cost Estimate
H.R. 1224, Merit Systems Protection Board Empowerment Act of 2021
September 17, 2021
As ordered reported by the House Committee on Oversight and Reform on June 29, 2021
Cost Estimate
H.R. 4035, Real Justice for Our Veterans Act of 2021
September 17, 2021
As ordered reported by the House Committee on the Judiciary on July 21, 2021
Cost Estimate
Reconciliation Recommendations of the House Committee on Homeland Security
September 17, 2021
As ordered reported on September 14, 2021
Cost Estimate
Reconciliation Recommendations of the House Committee on Oversight and Reform
September 17, 2021
As ordered reported on September 2, 2021
Cost Estimate
Reconciliation Recommendations of the House Committee on Veterans’ Affairs
September 17, 2021
As ordered reported on September 13, 2021
Cost Estimate
S. 2123, Pray Safe Act
September 17, 2021
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on July 14, 202
FASB
Not-for-Profit Advisory Committee [09/21/21]
September 14, 2021 Meeting Recap
GAO
Medicare Physician Services Payment Rates, Utilization, and Expenditures of Selected Services in Alaska, Hawaii, and the U.S. Territories National Credit Union Administration Additional Actions Needed to Strengthen Oversight Health Care Capsule Racial and Ethnic Health Disparities U.S. Postal Service Primer Answers to Key Questions about Reform Issues Federal Rulemaking Selected Agencies Should Fully Describe Public Comment Data and Their Limitations Commercial Spent Nuclear Fuel Congressional Action Needed to Break Impasse and Develop a Permanent Disposal Solution IT Modernization USDA Needs to Improve Oversight of Farm Production and Conservation Mission Area COVID-19 Defense-Wide Working Capital Fund Cash Management and Defense Logistics Agency Pandemic Response Missile Warning Satellites Comprehensive Cost and Schedule Information Would Enhance Congressional Oversight Climate Resilience Options to Enhance the Resilience of Federally Funded Roads and Reduce Fiscal Exposure Supplemental Security Income SSA Faces Ongoing Challenges with Work Incentives and Improper Payments Paycheck Protection Program Program Changes Increased Lending to the Smallest Businesses and in Underserved Locations Workforce Diversity Analysis of Federal Data Shows Hispanics Are Underrepresented in the Media Industry Coast Guard A More Systematic Process to Resolve Recommended Actions Could Enhance Future Surge Operations DOD Fraud Risk Management Actions Needed to Enhance Department-Wide Approach, Focusing on Procurement Fraud Risks Higher Education Office of Federal Student Aid Is Beginning to Identify and Address Its Workforce Needs Other Written Product Electricity Grid Resilience Electronic Health Records DOD Has Made Progress in Implementing a New System, but Challenges Persist U.S. Citizenship and Immigration Services Actions Needed to Address Pending CaseloadGASB
Fact Sheet Careers IFRS
IASB Chair inaugural speech: Impressions, intentions and intangibles September 2021 IASB Update available 24 September 2021
Update September 2021 IFRIC Update available 23 September 2021
Update
Investor Perspectives: Disclosures in financial statements to better reflect investor needs
21 September 2021
Feature IRS
Starting Oct. 28, new $67 user fee applies to estate tax closing letters; IRS reminds executors of free transcript option IRS: Drought-stricken farmers and ranchers have more time to replace livestock IRS launches new webpage to assist taxpayers with refunds subject to Joint Committee on Taxation review IRS: New contracts awarded to private collection agencies; taxpayers may be contacted by one of three groups
NYC
Department of Finance Launches the Fine and Interest Reduction Enabling Recovery (FAIRER) Program
September 20, 2021
NYS
Governor Hochul and Mayor De Blasio Announce $27 Million Available to Provide Hurricane Ida Relief to Undocumented New Yorkers
September 27, 2001
Acting Superintendent of Financial Services Adrienne A. Harris Announces New Consumer Protections in New York’s Public Adjusters Regulation
September 24, 2001
PCAOB
At September 28 Open Meeting, PCAOB to Consider Request for Additional Comment on Proposed New Requirements for the Lead Auditor’s Use of Other Auditors PCAOB Announces 2021 Forum for Auditors of Small Businesses and Broker-Dealers
SEC
SEC Charges Florida Payday Lender and CEO with Affinity Fraud Targeting the Venezuelan-American Community
SEC Charges Two Individuals for Wash Trading Scheme Involving Options of "Meme Stocks" SEC Delivers Report to Congress with Recommendations from the 40th Annual Small Business Forum Office of the Advocate for Small Business Capital Formation report 40th Annual Small Business Forum
SEC Charges Two Companies and Their Principals with Misleading Investors in More Than a Dozen Oil and Gas Securities Offerings
2021-193, Sept. 24, 2021 — The Securities and Exchange Commission today charged Thomas Powell and Stefan Toth, and their entities, Resolute Capital Partners LTD LLC and Homebound Resources LLC, with making material misrepresentations and omissions in connection with more than a dozen unregistered oil and gas securities offerings. Powell and Toth were also charged with acting as unregistered brokers. All respondents have agreed to settle the SEC action.
SEC Awards Approximately $36 Million to Whistleblower
2021-192, Sept. 24, 2021 —The Securities and Exchange Commission today announced an award of approximately $36 million to a whistleblower whose information and assistance significantly contributed to the success of an SEC enforcement action as well as actions by another federal agency.
SEC Charges World's Largest Advertising Group with FCPA Violations
2021-191, Sept. 24, 2021 — The Securities and Exchange Commission today announced that London-based WPP plc, the world's largest advertising group, has agreed to pay more than $19 million to resolve charges that it violated the anti-bribery, books and records, and internal accounting controls provisions of the Foreign Corrupt Practices Act (FCPA).
SEC Issues Agenda for Sept. 27 Meeting of the Asset Management Advisory Committee
2021-190, Sept. 23, 2021 — The Securities and Exchange Commission today released the agenda for the Sept. 27 meeting of the Asset Management Advisory Committee (AMAC).
SEC Charges Principals of Subprime Automobile Finance Company with Fraud
2021-189, Sept. 23, 2021 — The Securities and Exchange Commission today announced fraud charges against two former executives of a subprime automobile finance company for misleading investors about the subprime automobile loans that backed its $100 million offering.
SEC Charges Firm and Two Principals in First-Ever Actions Enforcing Rule on Duties of Municipal Advisors
2021-188, Sept. 23, 2021 — The Securities and Exchange Commission today charged a Texas- and Colorado-based municipal advisor, Choice Advisors LLC, and its two principals, Matthias O'Meara and Paula Permenter, with violating their duties, engaging in unregistered municipal advisory activities, and related misconduct with respect to Choice's charter school clients. The actions are the first-ever SEC cases enforcing Municipal Securities Rulemaking Board Rule G-42 on the duties of non-solicitor municipal advisors.
SEC Charges U.K.-Based Father and Son, and Two Others in Transatlantic Microcap Fraud Scheme
2021-187, Sept. 23, 2021 —The Securities and Exchange Commission today filed two complaints in the United States District Court for the Eastern District of New York charging four individuals and five entities for their roles in an allegedly fraudulent microcap scheme that generated more than $10 million in unlawful stock sales. The SEC also is seeking an order to freeze the assets of seven of the defendants and one relief defendant.
SEC Charges Quant Analyst in Multimillion Dollar Front-Running Scheme
2021-18., Sept. 23, 2021 — The Securities and Exchange Commission today announced charges against Sergei Polevikov, who worked as a quantitative analyst at two prominent asset management firms, for perpetrating a years-long front-running scheme that generated illicit profits of at least $8.5 million.
SEC Charges Puerto Rican Company and Managing Members with Fraud
2021-185, Sept. 21, 2021 — The Securities and Exchange Commission today announced charges against Puerto Rico-based Back to Green Mining LLC and its two managing members, José Jiménez Cruz and Manuel Portalatin, for their participation in a fraudulent and unregistered offering in a purported "green" mining venture.
Changing Dynamics Pre-IPO and Going Public on the Agenda for the SEC’s Small Business Capital Formation Advisory Committee
2021-184, Sept. 21, 2021 — The Securities and Exchange Commission's Small Business Capital Formation Advisory Committee will meet virtually on Monday, Sept. 27 to explore the changing dynamics for pre-IPO companies raising capital and the pathways those companies take to becoming public.
SEC Charges Crowdfunding Portal, Issuer, and Related Individuals for Fraudulent Offerings: Case is SEC’s First Involving Regulation Crowdfunding
2021-182, Sept. 20, 2021 — The Securities and Exchange Commission today charged three individuals and one issuer with conducting a fraudulent scheme to sell nearly $2 million of unregistered securities through two crowdfunding offerings. The SEC also charged the registered funding portal and its CEO, who placed the offerings on the portal’s platform.
SEC, MSRB, FINRA to Hold Compliance Outreach Program for Municipal Advisors
2021-183, Sept. 20, 2021 — The Securities and Exchange Commission's Division of Examinations and Office of Municipal Securities (OMS), the Municipal Securities Rulemaking Board (MSRB), and the Financial Industry Regulatory Authority (FINRA) today announced the opening of registration for the 2021 Compliance Outreach Program for Municipal Advisors. The virtual program will be held Thursday, Oct. 7, 2021, from 10 a.m. to 5 p.m. ET. Additional information and program materials, including the agenda are available on the SEC website.
SEC Charges Former Pharmaceutical Global IT Manager in $8 Million Insider Trading Scheme
2021-181, Sept. 17, 2021 — The Securities and Exchange Commission today announced insider trading charges against Dayakar R. Mallu, of Orlando, Florida, who generated gains and avoided losses totaling over $8 million by trading in the securities of his former employer, Mylan N.V., ahead of four public announcements between Oct. 3, 2017, and July 29, 2019.
TIGTA
Addressing Complex and Inconsistent Earned Income Tax Credit and Additional Child Tax Credit Rules May Reduce Unintentional Errors and Increase Participation
Report Date: 09/23/2021
Audit Report: PDF
Fiscal Year 2021 Statutory Review of Compliance With Notice of Federal Tax Lien Filing Due Process Procedures
Report Date: 09/23/2021
Audit Report: PDF
Improvements Are Needed to Identify Potentially Fraudulent Individual International Tax Returns During Processing
Report Date: 09/22/2021
Audit Report: PDF
Fiscal Year 2021 Statutory Review of Potential Fair Tax Collection Practices Violations
Report Date: 09/22/2021
Audit Report: PDF
Laptop and Desktop Sanitization Practices Need Improvement
Report Date: 09/20/2021
Audit Report: PDF
Enhanced Controls Are Needed to Ensure Compliance With Federal Travel Regulations and IRS Travel Policy
Report Date: 09/20/2021
Audit Report: PDF
As ordered reported by the House Committee on Oversight and Reform on June 29, 2021
As ordered reported by the House Committee on Transportation and Infrastructure on July 28, 2021
As ordered reported by the House Committee on the Judiciary on
July 21, 2021
As ordered reported on September 14, 2021
As ordered reported on September 2, 2021
As ordered reported on September 13, 2021
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on July 14, 2021
As ordered reported by the House Committee on Oversight and Reform on June 29, 2021
As ordered reported by the House Committee on Transportation and Infrastructure on July 28, 2021
As ordered reported by the House Committee on the Judiciary on
July 21, 2021
As ordered reported on September 14, 2021
As ordered reported on September 2, 2021
As ordered reported on September 13, 2021
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on July 14, 2021
As ordered reported by the House Committee on Oversight and Reform on June 29, 2021
As ordered reported by the House Committee on Transportation and Infrastructure on July 28, 2021
As ordered reported by the House Committee on the Judiciary on
July 21, 2021
As ordered reported on September 14, 2021
As ordered reported on September 2, 2021
As ordered reported on September 13, 2021
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on July 14, 2021
As ordered reported by the House Committee on Oversight and Reform on June 29, 2021
As ordered reported by the House Committee on Transportation and Infrastructure on July 28, 2021
As ordered reported by the House Committee on the Judiciary on
July 21, 2021
As ordered reported on September 14, 2021
As ordered reported on September 2, 2021
As ordered reported on September 13, 2021
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on July 14, 2021
- September 17, 2021Cost Estimate
As ordered reported on September 2, 2021
- September 17, 2021Cost Estimate
As ordered reported on September 13, 2021
- September 17, 2021Cost Estimate
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on July 14, 2021