Banking


The Securities and Exchange Commission (SEC) published for comment two rules, one of which would grant thrift institutions a limited exception from Investment Advisers Act requirements governing the manner and extent to which such entities may hold themselves out to the public as providers of investment advisory services ( www.sec.gov/news/press/2004-58.htm ). The other rule would exempt thrift-sponsored collective trust funds from the Securities Exchange Act of 1934’s registration and reporting requirements. Such funds allow a bank or thrift to manage the assets of tax-qualified pension and profit-sharing plans on a pooled basis without creating an investment company, which would be subject to additional regulation as a mutual fund. Comments are due July 9.

PODCAST

What’s next for potential CPA licensure changes

A new model proposed by NASBA and the AICPA is designed with an eye on the future for newly licensed CPAs. The AICPA's Carl Mayes, CPA, provides background on the project and a look ahead to 2020.

VIDEO

What RPA is and how it works

Robotic process automation is like an Excel macro that can work on multiple applications, says Danielle Supkis Cheek, CPA. RPA can complete routine, repetitive tasks such as data entry, freeing up employee time from lower-level chores.