Regulatory Roundup: Nov. 28 - Dec. 3

By:
Chris Gaetano
Published Date:
Dec 3, 2018

AICPA 

CPA Regulators and Profession Jointly Explore Evolving Licensure Model
Leaders of the CPA profession, the regulatory community and representatives from critical stakeholder groups are joining together to explore possible changes to the CPA licensure model.
November 29, 2018

Americans Favor Workplace Benefits 4 to 1 over Extra Salary: AICPA Survey
New AICPA data on Americans' thoughts on employee benefits and how they fit into a financial plan.
November 28, 2018

CBO

Cost Estimate
S. 3482, Emergency Medical Services for Children Program Reauthorization Act of 2018
November 30, 2018

Cost Estimate
H.R. 315, Improving Access to Maternity Care Act
November 30, 2018

Cost Estimate
S. 3657, Traumatic Brain Injury Program Reauthorization Act of 2018
November 30, 2018

Cost Estimate
S. 2076, BOLD Infrastructure for Alzheimer’s Act
November 30, 2018

Cost Estimate
S. 3530, Museum and Library Services Act of 2018
November 30, 2018

Cost Estimate
S. 3050, 21st Century IDEA
November 29, 2018

Cost Estimate
S. 465, Independent Outside Audit of the Indian Health Service Act of 2018
November 29, 2018

Cost Estimate
S. 669, Columbia River In-Lieu and Treaty Fishing Access Sites Improvement Act
November 29, 2018

Cost Estimate
H.R. 2606, Stigler Act Amendments of 2018
November 29, 2018

Cost Estimate
H.R. 4032, Gila River Indian Community Federal Rights-of-Way, Easements and Boundary Clarification Act
November 29, 2018

Cost Estimate
H.R. 1364, Official Time Reform Act of 2017
November 29, 2018

Cost Estimate
H.R. 299, a bill to amend title 38, United States Code, to clarify presumptions relating to the exposure of certain veterans who served in the vicinity of the Republic of Vietnam, and for other purposes
November 29, 2018

Cost Estimate
S. 664, Navajo Utah Water Rights Settlement Act of 2018
November 28, 2018

Cost Estimate
H.R. 6140, Advanced Nuclear Fuel Availability Act
November 28, 2018

Cost Estimate
S. 3085, Federal Acquisition Supply Chain Security Act of 2018
November 28, 2018

Cost Estimate
S. 1942, Savanna’s Act
November 28, 2018

GAO

Working Children:
Federal Injury Data and Compliance Strategies Could Be Strengthened
GAO-19-26: Published: Nov 2, 2018. Publicly Released: Dec 3, 2018.

Medicare Laboratory Tests:
Implementation of New Rates May Lead to Billions in Excess Payments
GAO-19-67: Published: Nov 30, 2018. Publicly Released: Nov 30, 2018.

Nuclear Weapons:
NNSA Has Taken Steps to Prepare to Restart a Program to Replace the W78 Warhead Capability
GAO-19-84: Published: Nov 30, 2018. Publicly Released: Nov 30, 2018.

Orphan Drugs:
FDA Could Improve Designation Review Consistency; Rare Disease Drug Development Challenges Continue
GAO-19-83: Published: Nov 30, 2018. Publicly Released: Nov 30, 2018.

Coast Guard Acquisitions:
Addressing Key Risks Is Important to Success of Polar Icebreaker Program
GAO-19-255T: Published: Nov 29, 2018. Publicly Released: Nov 29, 2018.

Contratación de Pequeñas Empresas:
La Agencia Federal para el Desarrollo de la Pequeña Empresa Podría Fortalecer los Exámenes de Admisibilidad en el Programa HUBZone en Puerto Rico y en General
GAO-19-203: Published: Nov 29, 2018. Publicly Released: Nov 29, 2018.

Maritime Security: 
DOT Is Still Finalizing Strategy to Address Challenges to Sustaining U.S.-Flag Fleet
GAO-19-260T: Published: Nov 29, 2018. Publicly Released: Nov 29, 2018.

Aviation Security:
TSA Uses a Variety of Methods to Secure U.S.-bound Air Cargo, but Could Do More to Assess Their Effectiveness
GAO-19-162: Published: Nov 28, 2018. Publicly Released: Nov 28, 2018.  

IASB

30 November 2018
December IASB meeting agenda papers now available

30 November 2018
Recordings of presentations at the 2018 IASB Research Forum now available

30 November 2018
Chair of the Trustees Erkki Liikanen delivers keynote speech at EU conference

29 November 2018
IFRS Foundation Trustees issue amendments to the Constitution

IRS 

IRS, Security Summit Partners warn public: It’s shopping season for identity thieves, too; Tax Security Awareness Week offers tips
IR-2018-238, December 3, 2018 ― With the holiday shopping season in full swing, the Internal Revenue Service and Security Summit partners warn taxpayers to take extra steps to protect their tax and financial data from identity thieves.

IRS launches Instagram account to help taxpayers: Agency adds social media platform to reach more taxpayers, share timely information on filing season, tax law changes, tax scams
IR-2018-237, November 30, 2018 — As part of a larger mission of helping all taxpayers understand and meet their tax responsibilities, the IRS announced today its debut on Instagram, adding this platform to its social media portfolio.

Proposed hardship withdrawal regulations include relief for disaster victims: Retirement plans can now make loans, hardship distributions to victims of Hurricanes Michael and Florence
IR-2018-236, November 29, 2018 — The IRS recently announced that 401(k) plans and similar employer-sponsored retirement plans can make loans and hardship distributions to victims of Hurricane Michael and Hurricane Florence and to members of their families.

IRS issues proposed regulations on foreign tax credits
IR-2018-235, November 28, 2018 — The Internal Revenue Service issued proposed regulations today on foreign tax credits for businesses and individuals.

Get Ready for Taxes: Many options available for preparing a 2018 tax return
IR-2018-234, November 28, 2018 — The IRS is advising taxpayers that now is a good time to decide how to prepare and file their 2018 tax return.

NYS Dept. of Taxation and Finance

Staten Island Tax Preparer Sentenced for Filing Fraudulent Tax Returns

SEC

Commission Statement on Passing of President George H.W. Bush
Dec. 3, 2018

SEC Adopts FAIR Act Rules Promoting Research Reports on Investment Funds
Washington D.C., Nov. 30, 2018 —The Securities and Exchange Commission today adopted rules and amendments designed to promote research on mutual funds, exchange‑traded funds, registered closed-end funds, business development companies, and similar covered investment funds. These changes reduce obstacles to providing research on investment funds by harmonizing the treatment of such research with research on other public companies. The Commission took this action in furtherance of the mandate in the Fair Access to Investment Research Act of 2017 (FAIR Act).

Two Celebrities Charged With Unlawfully Touting Coin Offerings
Washington D.C., Nov. 29, 2018 —The Securities and Exchange Commission today announced settled charges against professional boxer Floyd Mayweather Jr. and music producer Khaled Khaled, known as DJ Khaled, for failing to disclose payments they received for promoting investments in Initial Coin Offerings (ICOs). These are the SEC's first cases to charge touting violations involving ICOs.

Jina L. Choi, Regional Director of the SEC’s San Francisco Office, to Leave the Agency After Over 16 Years of Service
Washington D.C., Nov. 29, 2018 —The Securities and Exchange Commission today announced that Jina L. Choi, Director of the agency’s San Francisco Regional office, will leave the agency at the end of this month after more than 16 years of service. Under Ms. Choi’s leadership since 2013, the San Francisco office has brought numerous groundbreaking enforcement actions that have benefited Main Street investors, including most recently actions involving Tesla and its CEO and now former Chairman Elon Musk, Theranos and its founder Elizabeth Holmes, as well as Yahoo!.

SEC Charges Self-Described Promoter With Microcap Market Manipulation Scheme
Washington D.C., Nov. 28, 2018 —The Securities and Exchange Commission today charged a self-described penny stock promoter and an entity he controlled with orchestrating a scheme to manipulate trading in at least 97 microcap stocks. According to the SEC’s complaint, Eric Landis of Charlottesville, Virginia, falsely claimed to third-party media buyers for microcap companies that he would distribute promotional materials for the stocks via email lists with tens of thousands of subscribers. In reality, his distribution lists were a sham. To generate trading volume and create the false impression that he was drumming up investor interest, the SEC alleges that Landis traded thousands of microcap shares himself using brokerage accounts in his own name, in the name of an entity he controlled, Ridgeview Capital Partners LLC, and in the names of several third parties. Altogether, the SEC alleges that Landis placed thousands of manipulative trades over three years, including approximately 1,300 “matched trades,” which involved simultaneously selling and buying stocks in the microcap companies he was paid to promote.

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