Compliance


The SEC proposes two rules that would allow it to supervise broker-dealers and their affiliates on a consolidated basis ( www.sec.gov/news/press/2003-134.htm ). One proposal would create an alternative method for computing certain net capital charges for broker-dealers that are part of a holding company that manages risks—and consents to SEC supervision—on a groupwide basis. The other proposed rule would implement section 17(i) of the Securities Exchange Act of 1934, which created a new structure for consolidated supervision of broker-dealers’ holding companies and their affiliates. Such SEC supervision would include recordkeeping, reporting and examination requirements. This proposal also would adjust the audit requirements for over-the-counter derivatives dealers to allow accountants to use agreed-upon procedures when conducting audits of risk management control systems. Comments are due by February 4.

SPONSORED REPORT

Solving the lease accounting challenge

The challenges of the new lease accounting standard have been pervasive to say the least. In this free, independently-written report, you'll learn effective adoption strategies as well as resources for easing the transition to the new standard.

FEATURE

Tackling TCJA changes this tax season

Return preparers must be ready for how the Tax Cuts and Jobs Act has modified many common features of individual and business returns.