Regulatory Roundup: Oct. 2-7

By:
Chris Gaetano
Published Date:
Oct 7, 2019

AICPA 

Press Release
AICPA Foundation Grants Scholarships to High School Accounting Students
AICPA Foundation provides scholarship funding to 10 students who completed advanced high school accounting and plan to study accounting in college.
October 3, 2019

Press Release
AICPA Submits Recommendations to IRS on Tax Reform Administrative Relief for Section 965 Elections and Transfer Agreements
The AICPA has submitted comments to the Internal Revenue Service (IRS) regarding administrative relief for Section 965 Elections and Transfer Agreements of the Tax Cuts and Jobs Act.
October 3, 2019

CBO

Cost Estimate
H.R. 3167, National Flood Insurance Program Reauthorization Act of 2019
October 4, 2019
As ordered reported by the House Committee on Financial Services on June 11, 2019

Cost Estimate
H.R. 3607, Fossil Energy Research and Development Act of 2019
October 4, 2019
As ordered reported by the House Committee on Science, Space, and Technology on July 24, 2019

Cost Estimate
H.R. 3623, Climate Risk Disclosure Act of 2019
October 4, 2019
As ordered reported by the House Committee on Financial Services on July 16, 2019

Cost Estimate
S. 1678, Taiwan Allies International Protection and Enhancement Initiative (TAIPEI) Act of 2019
October 4, 2019
As reported by the Senate Committee on Foreign Relations on September 26, 2019

Cost Estimate
S. 886, Indian Water Rights Settlement Extension Act
October 4, 2019
As ordered reported by the Senate Committee on Indian Affairs on July 17, 2019

Working Paper
CBO’s Medicare Beneficiary Cost-Sharing Model: A Technical Description: Working Paper 2019-08
October 3, 2019
CBO uses a model to estimate the federal budgetary effects of proposed changes to the cost-sharing structure of the Medicare fee-for-service program. This paper describes that model, the analyses it can support, and an illustrative option for changing Medicare’s cost-sharing structure.

Cost Estimate
S. 1590, Rescuing Animals With Rewards Act of 2019
October 3, 2019
As reported by the Senate Committee on Foreign Relations on September 26, 2019

Presentation
The 2019 Long-Term Budget Outlook
October 3, 2019
Presentation by Theresa Gullo, CBO’s Assistant Director for Budget Analysis, to the National Association of State Budget Officers.

Cost Estimate
H.R. 1620, Chesapeake Bay Program Reauthorization Act
October 2, 2019
As ordered reported by the House Committee on Transportation and Infrastructure on September 20, 2019

Cost Estimate
H.R. 4031, Great Lakes Restoration Initiative Act of 2019
October 2, 2019
As ordered reported by the House Committee on Transportation and Infrastructure on September 20, 2019

Cost Estimate
H.R. 4044, Protect and Restore America’s Estuaries Act
October 2, 2019
As ordered reported by the House Committee on Transportation and Infrastructure on September 20, 2019

Cost Estimate
H.R. 4275, a bill to amend the Federal Water Pollution Control Act to reauthorize the Lake Pontchartrain Basin Restoration Program, and for other purposes
As ordered reported by the House Committee on Transportation and Infrastructure on September 20, 2019

Cost Estimate
S. 2099, White Horse Hill National Game Preserve Designation Act
As reported by the Senate Committee on Environment and Public Works on September 25, 2019.

FASB

Private Company Council  [10/03/19]
September 11, 2019 Meeting Minutes

GAO

Social Security Benefits:
SSA Needs to Improve Oversight of Organizations that Manage Money for Vulnerable Beneficiaries
GAO-19-688: Published: Sep 26, 2019. Publicly Released: Oct 4, 2019.

International Aviation Security:
TSA Should Improve Industry Coordination and Its Security Directive and Emergency Amendment Review Process
GAO-20-7: Published: Oct 3, 2019. Publicly Released: Oct 3, 2019.

North Macedonia:
U.S. Government Has Provided Funding to Support Democracy Activities
GAO-20-158: Published: Oct 3, 2019. Publicly Released: Oct 3, 2019.

Veterans Benefits:
Actions VA Could Take to Better Protect Veterans from Financial Exploitation
GAO-20-109: Published: Oct 3, 2019. Publicly Released: Oct 3, 2019.

Economic Sanctions:
Agencies Assess Impacts on Targets, and Studies Suggest Several Factors Contribute
to Sanctions' Effectiveness

GAO-20-145: Published: Oct 2, 2019. Publicly Released: Oct 2, 2019.

VA Health Care:
Additional Training Could Improve Organ Transplant Referral and Evaluation Processes
GAO-20-4: Published: Oct 2, 2019. Publicly Released: Oct 2, 2019.

Foster Care:
Education Could Help States Improve Educational Stability for Youth in Foster Care
GAO-19-616: Published: Sep 19, 2019. Publicly Released: Oct 2, 2019.

Head Start:
Action Needed to Enhance Program Oversight and Mitigate Significant Fraud and
Improper Payment Risks

GAO-19-519: Published: Sep 13, 2019. Publicly Released: Oct 2, 2019.

Defense Workforce:
Steps Needed to Identify Acquisition Training Needs for Non-Acquisition Personnel [Reissued with revisions on Oct. 2, 2019.]
GAO-19-556: Published: Sep 5, 2019. Publicly Released: Sep 5, 2019.

IASB

07 October 2019
Join the IFRS Foundation—New Technical vacancy

07 October 2019
Join the IFRS Foundation—Editor

03 October 2019
Papers available ahead of IASB Research Forum 2019

03 October 2019
IFRS Advisory Council September meeting report available

02 October 2019
September IFRS Interpretations Committee podcast published

IRS 

Reminder: Oct. 15 deadline approaching for taxpayers who requested extensions
IR-2019-163, October 7, 2019 — Taxpayers who requested the six-month filing extension should complete their tax returns and file on or before the Oct. 15 deadline.

NYS Dept. of Taxation and Finance

Five Arrested as Cash, Business Records, Computers, Untaxed Cigarettes, and Cigarette-Rolling Machines Seized
October 04, 2019​

Deadline for New Yorkers who Obtained a Six-Month Filing Extension: October 15
October 03, 2019​

PCAOB

Cybersecurity, Resiliency, and the Role of Financial Regulators, by Board Member Kathleen M. Hamm (October 3)

SEC

SEC Obtains Final Judgments Against Lek Securities and CEO in Layering, Manipulation Case
Litigation Continues Against Ukraine-Based Firm, Individuals
2019-205, Oct. 2, 2019 — On October 1, 2019, a federal court judge entered final judgments against New York-based brokerage firm Lek Securities Corp. and Chief Executive Officer Sam Lek, who were charged by the Securities and Exchange Commission with facilitating manipulative U.S. trading by a Ukraine-based firm over a three-year period.

SEC Proposes to Require Proposed NMS Plan Fee Amendments to Follow Public Notice, Comment, and Approval Procedure
2019-204, Oct. 1, 2019 — The Securities and Exchange Commission today proposed to require an amendment to a national market system plan (NMS plan) that would establish or change a fee or other charge (Proposed Fee Change) to be subject to the standard procedure for NMS plan amendments. The proposal would rescind a rule exception that allows an NMS plan amendment to be effective upon filing if it establishes or changes a fee or other charge. The standard procedure requires publication of the amendment, an opportunity for public comment, and Commission approval by order before the amendment can become effective.

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