Securities


Fannie Mae (formerly the Federal National Mortgage Association; www.fanniemae.com ) and Freddie Mac (formerly the Federal Home Loan Mortgage Corporation; www.freddiemac.com ) voluntarily consent to unprecedented SEC oversight of their financial disclosures. The accord’s immediate practical consequences—registration of the two government-sponsored enterprises’ (GSE) common stock with the SEC—are perhaps less significant than its implications for the future, which include the possibility of SEC registration of the GSEs’ high-profile, mortgage-backed securities. Moreover, by registering their common stock, Fannie Mae and Freddie Mac will be required under the Securities Exchange Act of 1934 to file their annual and quarterly reports and amendments with the SEC beginning in 2003. Also party to the agreement are the Treasury Department and the Office of Federal Housing Enterprise Oversight ( www.ofheo.gov ), which monitors the GSEs’ capital adequacy and financial safety and soundness.

SPONSORED REPORT

Year-end tax planning and what’s new for 2016

Practitioners need to consider several tax planning opportunities to review with their clients before the end of the year. This report offers strategies for individuals and businesses, as well as recent federal tax law changes affecting this year’s tax returns.

QUIZ

News quiz: IRS warning on cyberattacks and a change in pension rules

Once again, the IRS sounds the alarm about a threat from cyberthieves. See how much you know about this and other recent news with this short quiz.

CHECKLIST

Bolster your data defenses

As you weather the dog days of summer, it’s a good time to make sure your cybersecurity structure can stand up to the heat of external and internal threats. Here are six steps to help shore up your systems.