Regulatory Roundup - Aug. 17-23

Chris Gaetano
Published Date:
Aug 23, 2021


Priority Open Recommendations
Department of Homeland Security
Published: Aug 13, 2021.
 Publicly Released: Aug 23, 2021.
What GAO Found In April 2020, GAO identified 29 priority recommendations for the Department of Homeland Security (DHS). Since then, DHS has implemented 12 of those recommendations.

Pipeline Safety
Information on Keystone Accidents and DOT Oversight
Published: Jul 22, 2021.
Publicly Released: Aug 23, 2021.
What GAO Found The Department of Transportation's Pipeline and Hazardous Materials Safety Administration (PHMSA) required TC Energy to take additional safety measures specified in a special permit as conditions of allowing certain portions of the Keystone Pipeline (Keystone) to operate at a higher stress.

Military Families
Additional DOD Actions Could Better Support Military Foster and Adoptive Families
Published: Aug 19, 2021.
Publicly Released: Aug 19, 2021.
What GAO Found National data from the Department of Defense (DOD) between 2016 and 2020 suggest that very few military families—2,174—fostered or sought to adopt relative to the total active-duty servicemember population, which was 1.3 million in 2019.

Professional Standards Update No. 81
Published: Aug 18, 2021.
Publicly Released: Aug 18, 2021.
To alert the audit community to changes in professional standards, we periodically issue Professional Standards Updates (PSU). These updates highlight the effective dates and issuance of recent standards and guidance related to engagements conducted in accordance with Government Auditing Standards.

Defense Nuclear Enterprise
DOD Can Improve Processes for Monitoring Long-Standing Issues
Published: Aug 18, 2021.
Publicly Released: Aug 18, 2021.
What GAO Found The Department of Defense (DOD) continues to make progress implementing the recommendations from the 2014 nuclear enterprise reviews and the 2015 nuclear command, control, and communications enterprise review. From the 2014 reviews, DOD identified 175 recommendations.

Federal Debt Management
Treasury Quickly Financed Historic Government Response to the Pandemic and is assessing Risks to Market Functioning
Published: Aug 17, 2021.
Publicly Released: Aug 17, 2021.
What GAO Found In response to COVID-19, in March 2020 many investors rapidly sold their Treasury securities for cash. This led to a severe liquidity disruption when prices fell and transaction costs rose for Treasury notes and bonds in the secondary market.


NASACT Inducts David A. Vaudt and David R. Bean into Hall of Fame
(2021 Class)  [08/23/21]



Child Tax Credit: New update address feature available with IRS online portal; make other changes by August 30 for September payment
IR-2021-171, August 20, 2021 — The Internal Revenue Service has launched a new feature allowing any family receiving monthly Child Tax Credit payments to quickly and easily update their mailing address using the Child Tax Credit Update Portal, found exclusively on This feature will help any family that chooses to receive their payment by paper check avoid mailing delays or even having a check returned as undeliverable.

Security Summit warns tax pros to watch for tell-tale signs of identity theft
IR-2021-170, August 17, 2021 — With identity thieves continuing to target the tax community, Internal Revenue Service Security Summit partners today urged tax professionals to learn the signs of data theft so they can react quickly to protect clients. 


DFS Announces 2022 Health Insurance Premium Rates, Saving New Yorkers $607 Million
Aug. 13, 20221


SEC Enhances Access to Financial Disclosure Data

2021-159, Aug. 19, 2021 — The Securities and Exchange Commission today announced open data enhancements that provide public access to financial statements and other disclosures made by publicly traded companies on its Electronic Data Gathering, Analysis, and Retrieval system (EDGAR).

SEC Charges Netflix Insider Trading Ring

2021-158, Aug. 18, 2021 — The Securities and Exchange Commission today announced insider trading charges against three former Netflix Inc. software engineers and two close associates who generated over $3 million in total profits by trading on confidential information about Netflix's subscriber growth.

Sanjay Wadhwa Named Deputy Director of Enforcement Division
2021-157, Aug. 18, 2021 — The Securities and Exchange Commission today announced the appointment of Sanjay Wadhwa as Deputy Director of the Division of Enforcement. Mr. Wadhwa most recently served as the Senior Associate Director of the Division of Enforcement in the New York Regional Office (NYRO), where he managed more than 150 personnel in enforcing federal securities laws. His new role is effective immediately.

SEC Charges Investment Adviser and Associated Individuals with Causing Violations of Regulation SHO

2021-156, Aug. 17, 2021 — The Securities and Exchange Commission today announced settled charges against Murchinson Ltd.; its principal, Marc Bistricer; and its trader, Paul Zogala (the respondents), for providing erroneous order-marking information that caused executing brokers to violate Regulation SHO. In addition, Murchinson and Bistricer settled charges for causing a dealer to fail to register with the SEC.

SEC Charges Biopharmaceutical Company Employee with Insider Trading
2021-155, Aug. 17, 2021 — The Securities and Exchange Commission today charged a former employee of California-based Medivation Inc. with insider trading in advance of Medivation's announcement that it would be acquired by pharmaceutical giant Pfizer Inc.


August 18, 2021
Fiscal Year 2021 Statutory Review of Restrictions on Directly Contacting Represented Taxpayers

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