2010 OUTLOOK — INTERNATIONAL BANKING: Financial Crisis, Cybercrime Push Cross-Border Harmonization Effort

Increasing international pressure to harmonize regulation will be one of the thorniest issues to face bank regulators in the coming year. Even before the current world financial crisis, experts…

2010 OUTLOOK — FINANCIAL REGULATION: Three Days of Political Upheaval Jolt Outlook for Financial Regulatory Reform

Back-to-back bombshells from a special Senate election and a new White House initiative could complicate an already shaky timeline for legislative efforts to overhaul U.S. financial…

FBI Routinely Circumvented Electronic Communications Privacy Act Protections to Obtain Phone Records, Justice Department Reports

Beginning in 2003, the FBI routinely circumvented and often violated the Electronic Communications Privacy Act in making requests to telephone service providers for call records, according to…

ANALYSIS: SEC Enforcement Manual Revisions Feature Measures to Encourage Cooperation

On January 13, 2010, the Securities and Exchange Commission unwrapped version two of its Enforcement Manual, first introduced in 2008. Revisions to the Manual implement various…

2010 OUTLOOK — REGULATION: FTC Seen Moving Toward Major Shift in Online Privacy Policy

As part of a major privacy initiative, the Federal Trade Commission is expected this year to issue a report recommending new policies on the collection and use of consumer data by businesses…

2010 OUTLOOK — LEGISLATION: Data Privacy Expected to Be High Priority for House Commerce Panel

The debate over how to regulate firms that collect internet users’ personal information without disrupting e-commerce is expected to reach a critical point this year, as key House lawmakers…

IRS Studying Financial Guarantees under Transfer Pricing, Top IRS Official Says

SAN ANTONIO—Internal Revenue Service Associate Chief Counsel (International) Steven Musher Jan. 22 said the agency is studying issues surrounding financial guarantees in transfer pricing…

Administration Will Take Close Look at Subpart F, Foreign Tax Credit, Officials Say

SAN ANTONIO—Treasury International Tax Counsel Manal Corwin Jan. 22 said the administration will take a close look at Subpart F and the foreign tax credit in the…

Democrats Cool to Proposal to Extend 35% Tax Rate for Top Earners

Republican lawmakers are already positioning themselves to fight for an extension of the 35 percent top tax rate before it expires at the end of 2010, but Democrats remain…

2010 OUTLOOK — FUTURES LEGISLATION: Senate to Take Over Action on Derivatives Reform, but Timing Unclear

The financial crisis that came to a head for consumers and investors in fall 2008 will continue to cast a shadow over lawmakers and regulators in 2010 as the Senate takes…

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