Regulatory Roundup - Aug. 30 to Sept. 5

By:
Chris Gaetano
Published Date:
Sep 5, 2017

AICPA 

U.S. Business Executives Cite Scarcity of Skilled Personnel as Top Concern, AICPA Survey Finds 
Expectations Rise for Profit and Revenue Growth in Coming Year 
Published August 31, 2017

CBO 

Cost Estimate
H.R. 2316, Cooperative Management of Mineral Rights Act of 2017
September 1, 2017

Cost Estimate
H.R. 3388, SELF DRIVE Act
September 1, 2017

Cost Estimate
H.R. 3115, Superior National Forest Land Exchange Act of 2017
September 1, 2017

Report
The National Flood Insurance Program: Financial Soundness and Affordability
September 1, 2017

Cost Estimate
H.R. 931, Firefighter Cancer Registry Act of 2017
August 31, 2017

FASB

Remarks of FASB Chairman Russell G. Golden at the Private Company Town Hall hosted at the Georgia Society of CPAs 2017 Southeastern Accounting Show in Atlanta, GA  [08/31/17]

GAO

Civil Penalties:
Certain Federal Agencies Need to Improve Efforts to Comply with Inflation Adjustment Requirements
GAO-17-634:Published: Aug 31, 2017. Publicly Released: Aug 31, 2017.

Defense Contracted Services:
DOD Needs to Reassess Key Leadership Roles and Clarify Policies for Requirements Review Boards
GAO-17-482:Published: Aug 31, 2017. Publicly Released: Aug 31, 2017.

IASB

05 September 2017
Summary of the July ASAF meeting now available

05 September 2017
Investors: Issue 4 of the Essentials published

05 September 2017
Basel Committee on Banking Supervision and IFRS Foundation sign Memorandum of Understanding

04 September 2017
Final reminder: Capital Markets Advisory Committee—call for members

04 September 2017
A holistic look at IFRS Standards: the role of Post-implementation Reviews

IRS 

IRS Provides Special Relief to Encourage Leave-Based Donation Programs for Victims of Hurricane Harvey
IR-2017-143, Sept. 5, 2017 — The Internal Revenue Service today announced special relief designed to support leave-based donation programs to aid victims of Hurricane Harvey.

Update: IRS Waives Diesel Fuel Penalty for All of Texas Due to Hurricane Harvey
IR-2017-142, Sept. 3, 2017 — The Internal Revenue Service (IRS), in response to shortages of undyed diesel fuel caused by Hurricane Harvey, will not impose a penalty when dyed diesel fuel is sold for use or used on the highway.

IRS Provides Penalty Relief for Partnerships that Filed Late Returns in 2017
IR-2017-141, Sept. 1, 2017 — The Internal Revenue Service today issued guidance providing penalty relief for certain partnerships that did not file the required returns by the new due date for tax years beginning in 2016.

Summer 2017 Statistics of Income Bulletin Now Available
IR-2017-140, Sept. 1, 2017 — The Internal Revenue Service today announced that the Summer 2017 Statistics of Income Bulletin is available on IRS.gov.

NYC Dept. of Finance 

September 5, 2017
The Department of Finance is proposing rules that will require Real Property Transfer Tax (RPTT) returns to be electronically filed for Staten Island properties.

PCAOB

PCAOB Publishes Staff Inspection Brief Providing Information about 2017 Inspections of Auditors of Public Companies
WASHINGTON, Aug. 30, 2017

SEC

SEC Monitoring Market Impact of Hurricane Harvey
FOR IMMEDIATE RELEASE
2017-150
Washington D.C., Aug. 30, 2017—The Securities and Exchange Commission is closely monitoring the impact of Hurricane Harvey on investors and capital markets. Chairman Jay Clayton has mobilized agency resources to assist affected investors and market participants.

Former Pharma Company Accountant, Three Others Charged With Insider Trading
FOR IMMEDIATE RELEASE
2017-151
Washington D.C., Aug. 31, 2017—The Securities and Exchange Commission today charged an accountant and three others with insider trading on market-moving news about the New Jersey-based pharmaceutical company where the accountant formerly worked.

SEC and NYU to Host Forum on Exchange-Traded Products
FOR IMMEDIATE RELEASE
2017-152
Washington D.C., Aug. 31, 2017—The Securities and Exchange Commission and New York University will host a forum in September to examine the fast growing market for exchange-traded products and its implications for investors.

SEC Names Dalia Blass as Director of the Division of Investment Management
FOR IMMEDIATE RELEASE
2017-153
Washington D.C., Aug. 31, 2017—The Securities and Exchange Commission today announced that Dalia Blass has been named Director of the agency's Division of Investment Management.

SEC Names Jeffrey Harris as Director of the Division of Economic and Risk Analysis
FOR IMMEDIATE RELEASE
2017-154
Washington D.C., Aug. 31, 2017—The Securities and Exchange Commission today announced that Dr. Jeffrey H. Harris has been named Director of the agency's Division of Economic and Risk Analysis (DERA).  He replaces former director Mark Flannery who left the agency to return to teaching.

Chairman Clayton Names Executive Staff
FOR IMMEDIATE RELEASE
2017-155
Washington D.C., Aug. 31, 2017—The Securities and Exchange Commission today announced that John Cook, Jeffrey Dinwoodie, Raquel Fox, Kristina Littman, Alan Cohen, Christopher Carofine, and Shelby Begany Telle have been named to the executive staff of Chairman Jay Clayton. 

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