Compliance: Page 29
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Whistleblowers risk getting nothing from bankrupt companies
Critics in a Wall Street Journal report point to a big flaw in one of the most important tools the Securities and Exchange Commission has to catch fraud.
By Robert Freedman • June 29, 2021 -
Kevin Dietsch / via Getty Images
Bipartisan infrastructure plan: big beneficiaries, more tax enforcement
No tax hikes are contemplated to help pay for the $1.2 trillion package agreed to by Republicans and Democrats who hashed out the details.
By Robert Freedman • June 25, 2021 -
Explore the Trendlineâž”
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TrendlineTop 5 stories from CFO Dive
The promises and traps of generative AI, revamped modern finance teams and stark geopolitical risks are among the top forces CFOs are grappling with this year.
By CFO Dive staff -
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SPACs will rebound in wake of tougher oversight: Duff & Phelps
Stricter regulation will likely bolster investor confidence and spur a resurgence in SPACs, Duff & Phelps said.
By Jim Tyson • June 25, 2021 -
Drew Angerer via Getty Images
ESG reportingLow-quality assurance of ESG reports pose stability risk: IFAC
Companies' attempts to back up their ESG reports with low-quality assurance has put financial stability at risk, a study by the International Federation of Accountants says.
By Jim Tyson • June 24, 2021 -
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Gensler says alternative to LIBOR poses risk of manipulation
SEC Chair Gary Gensler warned of risks in replacing LIBOR with the Bloomberg Short Term Bank Yield Index.
By Jim Tyson • June 23, 2021 -
Drew Angerer via Getty Images
As investigation heats up, Trump CFO appears to remain loyal
Allen Weisselberg, Trump Organization's CFO of over 40 years, has been spotted entering and leaving Trump Tower numerous times in recent weeks, which the Washington Post suggests is a public signal of his loyalty to Trump.
By Jane Thier • June 22, 2021 -
Rev rec manager at hub of fraud ring, SEC says
The Securities and Exchange Commission used data analytics capabilities it launched last year to catch six people benefiting from insider information.
By Robert Freedman • June 21, 2021 -
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Whistleblower plan to catch corporate tax cheats gets bipartisan push
Republican and Democratic senators seek to narrow the $630 billion annual tax gap by putting teeth into the IRS whistleblower program.
By Jim Tyson • June 18, 2021 -
Courtesy of Fundrise
Former SEC chief accountant joins real estate investment platform as CFO
Alison Staloch, former chief accountant at the SEC's investment management division, was named CFO at direct-to-investor real estate investment platform Fundrise.
By Jane Thier • June 17, 2021 -
SEC role given to critic of weak corporate governance
SEC Chair Gary Gensler appointed Renee Jones to lead the corporation finance division and tackle high-stakes rulemaking for public disclosure and investor protection.
By Jim Tyson • June 15, 2021 -
Kena Betancur via Getty Images
OpinionWhat's behind the SEC's SPAC warrant concerns
In many of the deals, the warrants don't meet an exception in FASB's accounting standards for derivatives. As a result, they're misclassified as equity in the view of the Securities and Exchange Commission.
By Matt Smith and Petar Tomov • June 14, 2021 -
Jeff Swensen via Getty Images
CEO, CFO of electric truck maker Lordstown resign; misleading demand alleged
The company’s pre-order demand for its product is called questionable, and it needs more money to begin production by the fall.
By Robert Freedman • June 14, 2021 -
Zach Gibson via Getty Images
Corporate tax staff working beyond capacity: survey
Technology can help close the capacity gap but many tax departments lack the time, budget and skills to deploy it effectively, a Thomson Reuters Institute survey found.
By Jim Tyson • June 11, 2021 -
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Scenario plan, but don't act, until tax changes clearer
Companies await a squeeze as U.S. and global tax priorities converge to force more tax payments through profit-shifting curbs, other changes.
By Ted Knutson • June 11, 2021 -
Dan Kitwood via Getty Images
Regulator calls for sunsetting LIBOR in some interest rate swaps in July
A Commodity Futures Trading Commission subcommittee urges a switch in interdealer trading of interest rate swaps from LIBOR to SOFR on July 26.
By Jim Tyson • June 9, 2021 -
Joe Raedle via Getty Images
SPAC lawsuits surge over disclosure claims: attorney
Securities and Exchange Commission guidance on SPAC disclosures has spurred a rise in litigation in New York State courts — almost 40 in the past six months.
By Jim Tyson • June 8, 2021 -
Alex Wong via Getty Images
Gensler says SEC may tighten rules to avert insider-trading abuses: WSJ
SEC Chair Gary Gensler said he has asked agency staff to “use all the tools in our toolbox” to punish executives who abuse plans for trading in their own company’s shares.
By Jim Tyson • June 7, 2021 -
Spencer Platt via Getty Images
SPAC warrant restatements won't hit credit, Moody's says
Amending past financial statements to account for the shift in warrant accounting from equity to liability is just a technical change, according to an analysis.
By Robert Freedman • June 7, 2021 -
William Duhnke removed from PCAOB; Duane DesParte named acting chair
Critics had taken issue with Duhnke's view of risk and didn't like a proposal to fold the Public Company Accounting Oversight Board into the SEC.
By Robert Freedman • June 4, 2021 -
Carol Highsmith. (2005). "Apex Bldg." [Photo]. Retrieved from Wikimedia Commons.
FTC scrutinizing subscription pricing model
Although the Federal Trade Commission is focused on consumer abuses, the business-to-business side of recurring revenue could be affected if rule changes result.
By Robert Freedman • June 4, 2021 -
Win McNamee via Getty Images
AbbVie used 2017 law to lower taxes to 9.5% from 20%: investigation
The Senate Finance Committee announced an investigation into the pharmaceutical company's global tax practices as Biden pushed a broad effort to boost corporate tax revenue.
By Jim Tyson • June 3, 2021 -
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Deep DiveAvoiding ASC 470 debt modification mistakes
Many companies restructured debt during the pandemic; accounting for that can be fraught with risk if you misapply the rules, reporting specialists say.
By Ed McCarthy • June 3, 2021 -
Scott Olson via Getty Images
Musk tweets violated SEC rules, WSJ reports
Tesla and Elon Musk paid tens of millions of dollars in penalties, and its handling of performance-based communications continue to raise Securities and Exchange Commission concerns.
By Robert Freedman • June 2, 2021 -
Courtesy of NRDC
Nearly 40% of large companies pose biodiversity threat: Moody's ESG study
A Moody’s study aimed at measuring “biodiversity risks” in investment and lending portfolios found that 38% of 5,300 global companies operate at least one facility causing loss of habitat.
By Jim Tyson • May 28, 2021 -
Alex Wong via Getty Images
Gensler pledges tough SEC scrutiny of SPACs, warning of fraud risk
The SEC will “closely look” at each stage of SPAC financing to ensure adequate investor safeguards, Chair Gary Gensler said in congressional testimony.
By Jim Tyson • May 27, 2021
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