New York State
Assembly Passes Bill to Increase Oversight of Public Authorities
The state’s public authorities will get stricter oversight than ever under a measure that the state Assembly approved yesterday.
The measure would require greater disclosure at approximately 700 state authorities, which, despite their enormous role in government, have been relatively free to operate without the scrutiny that other state agencies receive, notes the New York Times.
The Senate is expected to pass the measure as early as Thursday, and Gov. David A. Paterson has reportedly pledged to sign it.
Jury Finds Former Bear Stearns Fund Managers Not Guilty of Fraud
A jury in a Brooklyn Federal District Court on Tuesday found two former Bear Stearns hedge fund managers not guilty of fraud charges, according to the New York Times.
Bruno Corruption Trial Kicks Off
The corruption trial of former State Senate Majority Leader Joseph L. Bruno kicked off this week, with both sides making opening statements that "presented vastly differing views" of his conduct, the New York Times reported.
2009 Election Roundup
The Republican Party in New Jersey and Virginia won handily over their Democratic opponents in last night’s elections while losing a House seat in a surprise upset. In New York City, meanwhile, Mayor Michael Bloomberg retained control of the city in a hard fought election battle, winning by a margin far slimmer than had been anticipated by the media.
New York State’s 23rd District
N.J. Woos Depository Trust from NYC
NEW JERSEY: it's New York's less-successful neighbor (all those folks with money over there work in New York City) and the only state without a state song. And still, somehow, it has convinced a Wall Street company to move 1,600 high-paying jobs to Jersey City.
Oh, I see: it's in exchange for more than $90 million in state and local tax incentives, state and company officials told NewJersey.com. I guess if there's $90 million on the table, Jersey, the birthplace of Salt Water Taffy, begins to seem (a bit) more appealing.
The Depository Trust and Clearing Corp. will move many of its employees from its New York City offices to the Newport Office Center on the Jersey City waterfront, the company told NewJersey.com. The firm plans to move the employees in 2013 into the 415,000-square-foot space.
Charlie Rangel Defeats GOP Bid to Strip Committee Chairmanship
Rep. Charles B. Rangel's (D-N.Y.) Democratic colleagues blocked a GOP bid to strip him of chairmanship of the House Ways and Means Committee earlier today.
DiNapoli Writes in Support of SEC Pay-to-Play Ban
Most of the comment letters the Securities and Exchange Commission (SEC) is receiving about its proposal to prohibit the use of placement agents in pension fund deals -- a practice that's come to be commonly known as "pay-to-play" -- may be against the ban, but it has a sure fan in state Comptroller Thomas P. DiNapoli.
DiNapoli penned a letter to SEC Secretary Elizabeth M. Murphey in which he notes that New York state has also banned the practice and asserts that the Common Retirement Fund has not suffered any losses of funds as a result of the ban.
DiNapoli Bans Campaign Contributors From Pension Deals
New York State Comptroller Thomas P.
Paterson to Appear on 'Meet the Press'
From the "Making Lemonade From Lemons" file:
Perhaps being told by the president of the United States to ditch your run for governor isn't all bad. Especially if it gets you a spot on the weekly Sunday news show, Meet the Press.
State Tax Department Posts Info on Tax Return Preparer Registration
The New York State Department of Taxation and Finance has finally posted information on its Web site about its new tax return preparer registration requirements.
There is not much new information available except that the department will have an online registration page available in November.
New York-licensed CPAs are exempt from this law. You can see a list of who else is exempt here.