BNA INSIGHTS: Department of Labor’s Advice on Advice and Investment Professionals: Take Two

On Feb. 26, 2010, the Department of Labor issued a new set of proposed regulations (the “New Proposed Regulations”), which banks, broker-dealers, mutual fund complexes and other financial institutions that…

Lawmakers Blast Regulators for Failure to Uncover Lehman Accounting Irregularities

The House Financial Services Committee April 20 faulted the Securities and Exchange Commission and the Federal Reserve Bank of New York for facilitating Lehman Brothers’ use of a questionable accounting…

IRS Uncertain Positions Documents Answer Some Questions, Leave Others, Practitioners Say

The draft schedule and instructions that taxpayers would use to report uncertain tax positions, unveiled by the Internal Revenue Service April 19, are administratively helpful and well…

Senate Finance Committee Chairman Baucus Open to $90 Billion Bank Tax, But Says More Hearings Needed on Details

Senate Finance Committee Chairman Max Baucus (D-Mont.) said April 20 that he is open to President Obama’s proposal to impose a new $90 billion tax on large financial institutions, but there are…

Coal-Fired Power Plant in Texas Agrees to Capture 85 Percent of Carbon Dioxide

Under an agreement announced April 19 between the Environmental Defense Fund and Nebraska-based Tenaska Inc., at least 85 percent of the carbon dioxide produced by a new coal-fired…

Senators Grassley, Conrad Introduce Bill to Extend Ethanol Tax Incentives

Sens. Charles Grassley (R-Iowa) and Kent Conrad (D-N.D.), both members of the Senate Finance Committee, introduced legislation (S. 3231) April 20 that would…