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.

SPONSORED REPORT

Building client loyalty with payroll services

In this report, CPA experts detail their tactics for performing successful payroll services, how to mitigate risk in the process, and the impact payroll can have as a value-added service.

PODCAST

Using drones to enhance audits

Hermann Sidhu, CPA, global assurance digital leader at EY, walks us through EY’s exciting new project to use drones to help audit large warehouses and outdoor inventories.