House Approves $1 Billion Cybersecurity Bill; DHS Seeks $423 Million for FY 2011

The House Feb. 4 approved legislation that would provide nearly a billion dollars for federal cybersecurity efforts, including research and development and adoption of…

Online Bank Authentication Lawsuits Could Clarify Data Security Rules, But Most Cases Settle

The “commercially reasonable” level of data security that banks should use to protect customers from unauthorized access to their accounts is not clearly spelled…

ANALYSIS: SEC Enforcement Policies at Odds with Focus on Compliance, Attorney Says

Despite the Securities and Exchange Commission’s renewed emphasis on the importance of compliance at regulated entities, the SEC staff—and the agency itself—have yet to…

Bank of America Agrees to Pay $150 Million Fine to Settle SEC Charges

The Securities and Exchange Commission Feb. 4 announced that it has reached an agreement with Bank of America Corp. (BAC) where the bank will pay a…

Bank of America, Two Former Execs Sued by New York Attorney General over Bank’s Acquisition of Merrill Lynch

New York Attorney General Andrew M. Cuomo (D) Feb. 4 announced securities law violation charges against Bank of America Corp. (BAC) and two former BofA senior executives…

Administration Requests 12% Increase in SEC Funding to Boost Staffing, Technology

The White House Feb. 1 proposed giving the Securities and Exchange Commission $1.258 billion in fiscal year 2011—representing a 12 percent increase from 2010 funding levels…

White House Requests up to $261 Million for CFTC; Half of $93 Million Increase Tied to Reform Effort

The White House proposed Feb. 1 that Congress fund the Commodity Futures Trading Commission with as much as $261 million in fiscal year 2011, which would be an increase of more than…

ANALYSIS: State Taxes in 2009: The Year in Review

KPMG’s review of state taxation in 2008 began with the quote, “It was the best of times, it was the worst of times …”; in contrast, 2009 generally was the worst of times—from start to finish…

Obama to Sign Executive Order the Week of February 8 to Create Fiscal Commission

The White House said Feb. 5 President Obama planned to sign an executive order setting up a bipartisan fiscal commission to provide…