Regulatory Roundup: April 19-25

By:
Chris Gaetano
Published Date:
Apr 25, 2017

AICPA 

Inflation Increase Deflates Americans’ Financial Satisfaction: AICPA Index 
NEW YORK (April 25, 2017) – As interest rates continue their steady climb from historic lows, Americans are starting to feel the impact on their finances. In fact, increased inflation outweighed historic stock market highs and increases in home equity, leading to a 1.6 point decline in the Q1 2017, Personal Financial Satisfaction Index (PFSi).

Is Time Still Money? Americans Say Cost More Important than Time When Making Purchases 
NEW YORK (April 20, 2017) – Time is money, the old adage goes. But many Americans value their money more than their time, according to a new survey from the American Institute of CPAs (AICPA).  The survey explores whether Americans are more likely to opt for extra money in their pockets or extra time on their hands. Whether it’s paying a service to clean your home while you’re at work, taking a more expensive direct flight to save time, or driving a longer route to avoid tolls, everyday people choose between spending their hard-earned cash or their valuable time.

CBO

Cost Estimate
H.R. 1644, Korean Interdiction and Modernization of Sanctions Act
April 24, 2017

Report
Costs of Building a 355-Ship Navy
April 24, 2017

Blog Post
How Economic Changes Affect CBO’s Budget Projections
April 24, 2017

Cost Estimate
H.R. 1372, Homeland Security for Children Act
April 21, 2017

Cost Estimate
H.R. 1694, Fannie and Freddie Open Records Act 2017
April 21, 2017

Cost Estimate
S. 607, Native American Business Incubators Program Act
April 21, 2017

Cost Estimate
S. 190, Power and Security Systems (PASS) Act
April 20, 2017

Cost Estimate
S. 724, a bill to amend the Federal Power Act to modernize authorizations for necessary hydropower approvals
April 20, 2017

Cost Estimate
H.R. 1678, a bill to amend the Robert T. Stafford Disaster Relief and Emergency Assistance Act concerning the statute of limitations for actions to recover disaster or emergency assistance payments, and for other purposes
April 20, 2017

Cost Estimate
S. 703, Wichita Project Equus Beds Division Authorization Extension Act
April 20, 2017

Cost Estimate
H.R. 1808, Improving Support for Missing and Exploited Children Act of 2017
April 19, 2017

Cost Estimate
S. 226, a bill to exclude power supply circuits, drivers, and devices designed to be connected to, and power, light-emitting diodes or organic light-emitting diodes providing illumination or ceiling fans using direct current motors from...
April 19, 2017

Cost Estimate
S. 675, Long Island Sound Restoration and Stewardship Act
April 19, 2017

Cost Estimate
S. 117, Alex Diekmann Peak Designation Act of 2017
April 19, 2017

Report
Preliminary Results From CBO’s Analysis of the National Flood Insurance Program
April 19, 2017

FAF

Our Evolving and Ongoing Search for Talent
Steve Jobs once said, "In order to do things well, that can't be done by one person, you must find extraordinary people." Finding extraordinary people and appointing them to the Financial Accounting Standards Board (FASB), the Governmental Accounting Standards Board (GASB), the Boards’ advisory councils, and the Financial Accounting Foundation (FAF) is, in my view, one of the most important roles of the FAF Board of Trustees.

GAO 

Aviation Research and Development:
FAA Could Improve How It Develops Its Portfolio and Reports Its Activities
GAO-17-372:Published: Apr 24, 2017. Publicly Released: Apr 24, 2017.

F-35 Joint Strike Fighter:
DOD Needs to Complete Developmental Testing Before Making Significant New Investments
GAO-17-351:Published: Apr 24, 2017. Publicly Released: Apr 24, 2017.

Tennessee Valley Authority:
Actions Needed to Better Communicate Debt Reduction Plans and Address Billions in Unfunded Pension Liabilities
GAO-17-343:Published: Mar 23, 2017. Publicly Released: Apr 24, 2017.

Financial Technology:
Information on Subsectors and Regulatory Oversight
GAO-17-361:Published: Apr 19, 2017. Publicly Released: Apr 19, 2017.

IASB

25 Apr 2017 
IFRS Foundation publishes 2016 Annual Report

21 Apr 2017
IASB proposes minor amendments to IFRS 9 to aid implementation

21 Apr 2017
IFRS Foundation Conference in Amsterdam

20 Apr 2017
IFRS Taxonomy Consultative Group-call for members

IRS 

IRS Issues Tips on What to do After the Tax-Filing Deadline
IR-2017-88, April 24, 2017 — Tax day has come and gone for most people, but some taxpayers may still be dealing with their taxes.

IRS Seeks Applications for Information Reporting Program Advisory Committee
IR 2017-87, April 19, 2017 — The IRS is requesting membership nominations for the IRPAC.

IRS Provides Tips on Determining If It’s Really The IRS At Your Door
IR-2017-86, April 19, 2017 — The IRS has created a special new page on IRS.gov to help taxpayers determine if a person visiting their home or place of business claiming to be from the IRS is legitimate or an imposter.

NYC Dept. of Finance 

Posted 2016 Detailed Annual Sales Reports by Borough
April 21, 2017

NYS Dept. of Taxation and Finance

Current & Former Owner of Mineola Restaurant Arrested for Failing to Pay Collected Sales Tax 

NYS Tax Department Announces Launch of New and Convenient Way to Pay 

Restaurant Owners Plead Guilty to Grand Larceny 

Identity Thieves Sentenced to More Than 3 Years in Prison

SEC

Investment Bank VP Charged With Insider Trading 
Washington D.C., April 24, 2017—The Securities and Exchange Commission today charged a vice president in the risk management department of a New York-based investment bank with insider trading on confidential information he learned in advance of a private equity firm’s acquisition of a publicly-traded technology company.

Portfolio Manager Charged With Diverting Nearly $2 Million to Personal Account 
Washington D.C., April 24, 2017—The Securities and Exchange Commission today announced fraud charges against a Massachusetts-based portfolio manager accused of diverting at least $1.95 million to his personal brokerage account from a fund over which he had trading authority.

Telecom Executives Agree to Pay Penalties for FCPA Violations 
Washington D.C., April 24, 2017—The Securities and Exchange Commission today announced that two former executives at Hungarian-based telecommunications company Magyar Telekom have agreed to pay financial penalties and accept officer-and-director bars to settle a previously-filed SEC case alleging they violated the Foreign Corrupt Practices Act (FCPA).

 

 

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