Regulatory Roundup: Aug. 27-Sept. 3

By:
Chris Gaetano
Published Date:
Sep 3, 2019

CBO 

Report
Budgetary Outcomes Under Alternative Assumptions About Fiscal Policy
August 29, 2019
In this report, CBO provides information about how its most recent budget projections would change under alternative assumptions about future fiscal policies and estimates the possible budgetary outcomes.

Cost Estimate
H.R. 3318, Emerging Transportation Security Threats Act of 2019
August 28, 2019
As ordered reported by the House Committee on Homeland Security on July 17, 2019

Cost Estimate
H.R. 3597, Solar Energy Research and Development Act of 2019
August 28, 2019
As ordered reported by the House Committee on Science, Space, and Technology on July 24, 2019

Cost Estimate
H.R. 3691, TRANSLATE Act
August 28, 2019
As ordered reported by the House Committee on Homeland Security on July 17, 2019

Cost Estimate
H.R. 3694, Helping Families Fly Act of 2019
August 28, 2019
As ordered reported by the House Committee on Homeland Security on July 17, 2019

Cost Estimate
H.R. 2097, Legacies of War Recognition and Unexploded Ordnance Removal Act
As ordered reported by the House Committee on Foreign Affairs on July 17, 2019

Cost Estimate
H.R. 3279, Diversity in Corporate Leadership Act of 2019
As ordered reported by the House Committee on Financial Services on July 11, 2019

Cost Estimate
S. 715, Smart Manufacturing Leadership Act
As ordered reported by the Senate Committee on Energy and Natural Resources on July 16, 2019

FAF

FAF Trustees Appoint Fiona Ma to the Governmental Accounting Standards Advisory Council  [08/28/19]
Media Advisory

FASB

Representatives of the Financial Accounting Standards Board
and the Accounting Standards Board of Japan Hold Biannual Meeting  [08/30/19]
News Release

GAO

Federal Vehicle Fleets:
Agencies Have Continued to Incorporate Alternative Fuel Vehicles into Fleets, but Challenges Remain
GAO-19-397: Published: Jul. 26, 2019 Publicly Released: Aug. 26, 2019

GASB

FAF Trustees Appoint Fiona Ma to the Governmental Accounting Standards Advisory Council  [08/28/19]
Media Advisory

IASB

03 September 2019
August 2019 IFRS for SMEs Update published

29 August 2019
August 2019 IASB Update published

29 August 2019
August IASB podcast published

IRS 

IRS announces waiver of dyed fuel penalty in Florida due to Hurricane Dorian
IR-2019-148, August 30, 2019 —To minimize or prevent disruptions to the supply of fuel for diesel-powered highway vehicles because of Hurricane Dorian, the Internal Revenue Service announced today it will not impose a penalty when dyed diesel fuel is sold for use or used on the highway in the State of Florida.

As Hurricane Dorian gains strength, IRS encourages preparation for natural disaster
IR-2019-147, August 29, 2019 — As Dorian threatens and with the peak of hurricane season just ahead, the Internal Revenue Service reminds everyone to develop an emergency preparedness plan.

Interest rates remain the same for the fourth quarter of 2019
IR-2019-146, August 28, 2019 — The Internal Revenue Service today announced that interest rates will remain the same for the calendar quarter beginning October 1, 2019, as they were in the prior quarter. 

NYS Dept. of Taxation and Finance

Scam Alert: Bogus Letters Demanding Payment Sent to Taxpayers
August 30, 2019​

Operation Skyfall: AG James Announces Convictions In $3 Million Dollar Loan Fraud And Money Laundering Scheme
August 27,2019

SEC

SEC Monitoring Impact of Hurricane Dorian on Capital Markets
2019-169 Washington D.C., Aug. 30, 2019 —The Securities and Exchange Commission is closely monitoring the impact of Hurricane Dorian on investors and capital markets.The SEC divisions and offices that oversee companies, accountants, investment advisers, mutual funds, brokerage firms, transfer agents, and other regulated entities and investment professionals will continue to closely track developments. They will evaluate the possibility of granting relief from filing deadlines and other regulatory requirements for those affected by the storm. Entities and investment professionals affected by Hurricane Dorian are encouraged to contact Commission staff with questions and concerns:

SEC Shuts Down $300 Million Fraud Perpetrated by San Diego Company and Its Principal
2019-168 Washington D.C., Aug. 29, 2019 —The Securities and Exchange Commission today announced it has filed charges and obtained a consented-to asset freeze against San Diego-based ANI Development LLC, its principal, Gina Champion-Cain, and a relief defendant, for operating a multi-year $300 million scheme that defrauded approximately 50 retail investors. 

SEC Charges Adviser Firm and Its Principals With Defrauding Retired NFL Players
2019-167 Washington D.C., Aug. 29, 2019 —The Securities and Exchange Commission today charged a Tallahassee-based investment adviser firm and its two former principals with defrauding investors, most of whom were retired NFL players who had joined a class-action lawsuit against the league claiming they suffered brain injuries as a result of concussion

SEC Charges Private Lender and CEO with Fraudulent Mismarking Scheme
2019-166 Washington D.C., Aug. 29, 2019 — The Securities and Exchange Commission today charged Live Well Financial, Inc. and its CEO, Michael Hild, both of Richmond, Va., with perpetuating a multi-million dollar bond mismarking scheme against Live Well's short-term lenders. The complaint also charges Live Well's CFO, Eric Rohr, and Executive Vice President, Darren Stumberger, both of whom consented to partial judgments against them.

SEC Awards More Than $1.8 Million to Whistleblower
2019-165 Washington D.C., Aug. 29, 2019 — The Securities and Exchange Commission today announced an award of more than $1.8 million to a whistleblower whose information and assistance were critically important to the success of an enforcement action involving misconduct committed overseas. 

SEC Charges Dallas Company and its Founders With Defrauding Investors in Unregistered Offering and Operating Unregistered Digital Asset Exchange
2019-164 Washington D.C., Aug. 29, 2019 — The Securities and Exchange Commission today announced settled charges with Bitqyck Inc. and its founders, who allegedly defrauded investors in securities offerings of two digital assets, Bitqy and BitqyM, and operated an unregistered exchange to permit trading in one of them, a digital token called Bitqy. 

SEC Investor Advisory Committee to Meet on Sept. 19
2019-163 Washington D.C., Aug. 29, 2019 — The Securities and Exchange Commission’s Investor Advisory Committee will hold a public meeting on Sept. 19.The meeting will begin at 9:30 a.m. in the Multipurpose Room at SEC headquarters at 100 F Street, N.E., Washington, D.C. and is open to the public. The meeting will be webcast live and archived on the committee’s website for later viewing. 

SEC Obtains Emergency Asset Freeze, Charges Pennsylvania Investment Adviser with $100 Million Fraud
2019-162 Washington D.C., Aug. 27, 2019 — The Securities and Exchange Commission today charged a Pennsylvania investment adviser with operating an investment advisory fraud involving over $100 million in investments. The SEC also obtained an emergency asset freeze.

RSM US LLP Charged With Violating Auditor Independence Rules
2019-161 Washington D.C., Aug. 27, 2019 — The Securities and Exchange Commission today charged public accounting firm RSM US LLP with violations of the agency’s auditor independence rules in connection with more than 100 audit reports involving at least 15 audit clients.

TIGTA

August 28, 2019
Criminal Investigation Should Increase Its Role in Enforcement Efforts Against Identity Theft [PDF]
»Highlights

August 28, 2019
Billions of Dollars of Potentially Erroneous Carryforward Claims Are Still Not Being Addressed [PDF]
»Highlights

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