BNA INSIGHTS: Compensation Risk: Regulatory Requirements and Practical Applications

The near collapse of financial markets and the global financial crises in 2009 focused the public, media, Washington, and individual investors, among others, on outsized Wall Street compensation packages related to excessive risk taking…

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 many details that need to be worked out…

Former Executives Say Credit Rating Agencies Pursued Market Share Ahead of Accuracy

Former executives at the country’s two largest credit rating agencies—Standard & Poor’s and Moody’s Investors Service—April 23 told the Senate Permanent Subcommittee on Investigations that the desire for market share, rather than…

Action on Senate Financial Services Reform Blocked; Derivatives Measure Seen as Amendment

Senate Republicans, minus two of their own but joined by two Democratic senators, April 26 blocked efforts to vote on a financial reform measure (S. 3217) without extended debate…

International Tax Law Changes Should Be Left for Broad Reform, Business Groups Say

Fifteen major organizations participating in the Promote America’s Competitive Edge (PACE) Coalition called on Congress in an April 26 letter to move cautiously in modifying international tax provisions in…

IRS Focused on Timelines, Burdens in Implementing Foreign Accounting Tax Compliance Act Provisions, Top Official Says

Internal Revenue Service Associate Chief Counsel (International) Steven Musher April 26 said the agency remains focused on timelines and on imposing the least possible burden on taxpayers as it works to implement comprehensive…

Obama’s Fiscal Commission to Meet for First Time Today amid Grounded Expectations, Tough Choices

President Obama’s 18-member fiscal commission, which meets for the first time April 27, faces a difficult challenge to meet its twin goals of medium- and long-term deficit reduction, according to balanced-budget advocates…