Latest Articles

  • Wells Fargo Ethics Hotline Getting a Lot of Use

    By:
    Chris Gaetano
    |
    Jun 20, 2018
    Wells Fargo has reported that more employees are using its ethics hotline, indicating both that people are less afraid to report unethical activity and that unethical activity is still an issue for the bank. 
  • Americans Still Not Saving Enough, Despite Gains in Jobs

    By:
    Chris Gaetano
    |
    Jun 20, 2018
    Federal Reserve Chair Jerome Powell recently said that, given low unemployment, on-pace inflation targets and a "balanced" risk outlook, the economy makes a strong case for continued interest rate hikes. Despite these gains, however, a recent report found that almost a quarter of Americans have no savings at all. 
  • Momentum Against Big Four Builds in UK

    By:
    Chris Gaetano
    |
    Jun 19, 2018
    The United Kingdom's Financial Reporting Council, which regulates the audit profession, has found that Big Four firm KPMG is not performing work to an acceptable standard, exacerbating the already-tense relationship between the government and the Big Four in the wake of several high-profile audit failures. 
  • NY-Based Prometheum Aims to be First SEC-Compliant ICO Trade Platform

    By:
    Chris Gaetano
    |
    Jun 19, 2018
    Seeking to shed the anarchic reputation associated with many cryptocurrencies, the New York-based company Prometheum aims to be the first initial coin offering trading platform done in full compliance with all relevant Securities and Exchange Commission rules. 
  • Regulatory Roundup: June 13-19

    By:
    Chris Gaetano
    |
    Jun 19, 2018
    With so many regulators out there, it can be tough to keep track of all the decisions being made. This is the NYSSCPA’s regular series that collects relevant regulatory ‚Äč‚Äčannouncements from the past week, and puts them in one place to help you stay on top of the issues.      
  • AICPA's Melancon Raises Possibility of Alternate Pathways to Becoming CPA

    By:
    Chris Gaetano
    |
    Jun 18, 2018
    AICPA President and CEO Barry Melancon, in a recent speech, said that as the skills demanded by the industry change, becoming a CPA may involve alternate paths that reflect the increasingly tech-savvy nature of the profession. 
  • Citibank Settles LIBOR Manipulation Dispute for $100 Million

    By:
    Chris Gaetano
    |
    Jun 18, 2018
    Citibank has agreed to a $100 million settlement with the attorneys general of 41 different U.S. jurisdictions over accusations that it manipulated the London Interbank Offered Rate (LIBOR), a key interest rate that informs many other rates, such as those for government and corporate bonds, mortgages, student loans, and credit cards. 
  • SEC Corporate Finance Director Says Bitcoin, Ethereum Are Probably Not Securities

    By:
    Chris Gaetano
    |
    Jun 15, 2018
    William Hinman, the SEC's Director of the Division of Corporate Finance, said in a recent speech that the offers and sales of cryptocurrencies Bitcoin and Ethereum do not fit the definition of a securities transaction. 
  • Poll: Tax Departments Around the World Struggle with Regulation, Talent, Tech, Budgets

    By:
    Chris Gaetano
    |
    Jun 15, 2018
    A poll of 1,722 senior executives from 28 countries found that the corporate tax and finance departments had largely the same challenges: regulation, finding qualified staff, doing more with less and technological disruption. 
  • Fed Lifts Interest Rates by Quarter of a Percent

    By:
    Chris Gaetano
    |
    Jun 14, 2018
    The Federal Reserve on Wednesday raised interest rates by a quarter of a percent, indicating that the central bank is confident about the current state of the economy.