The SEC published for comment proposed regulation B, which would implement provisions of the Gramm-Leach-Bliley Act of 1999 (GLBA) that delineate the securities activities in which banks may engage without registering as brokers under the Securities Exchange Act of 1934 ( ). GLBA introduced 11 functional exceptions to replace the act’s complete exception of banks from the definition of the term broker . The SEC proposal, which is based on interim rules the commission adopted in 2001, defines some of the statutory terms contained in the GLBA exceptions and recommends—with investor protection in mind—additional exemptions for certain other bank activities. Comments are due August 1, 2004.

Eugene D. O’Kelly, KPMG LLP chairman and chief executive, accepted the George Bush Corporate Leadership Award on behalf of his firm from former President George H.W. Bush and his wife, Barbara P. Bush, as Mary Pat McCarthy, KPMG deputy vice-chairman, looked on. The citation, shared with three other corporations, recognized the organizations’ leadership in providing 67,500 volunteers who contributed more than 100 million hours of community service in 2002—a contribution valued at $1.7 billion.


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.


News quiz: Retirement planning, tax practice, and fraud risk

Recent reports focused on a survey that gauges the worries about retirement among CPA financial planners’ clients, a suit that affects tax practitioners, and a guide that offers advice on fraud risk. See how much you know with this short quiz.


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.