Permanent Establishment Can Be Created Through Agency Relationship, IRS Official Says

The activities of companies that send agents into other countries to do business can create a permanent establishment for tax purposes even if the presence of agents does not…

PCAOB Issues Staff Guidance Targeting Registration Process for Some Non-U.S. Firms

The Public Company Accounting Oversight Board June 1 issued updated staff guidance on the registration process for audit firms applying to register with the PCAOB from non-U.S. jurisdictions in…

SEC’s New Cooperation Initiative Off to ‘Very Strong Start,’ Enforcement Official Says

A new tool introduced in January intended to induce individuals to cooperate with Securities and Exchange Commission enforcement officials has experienced “a very strong start,” SEC…

Senate Financial Services Reform Legislation the Likely Model as House, Senate Conferees Prepare to Meet

A Senate-passed bill that would broadly overhaul U.S. financial services regulation is the most likely model for House and Senate conferees as they prepare to hammer out their…

House Approves Bill with Federal Information Security Management Act Updates, White House Cyber Office

The House May 28 passed a defense authorization bill after adding provisions that would mandate changes in what federal agencies must do to comply with the Federal Information…

ANALYSIS: Business Lobbyists See Boucher Privacy Proposal as Disruptive, Press for Self-Regulation

A draft legislative proposal that has been circulated by Rep. Rick Boucher (D-Va.) would impose unprecedented new restrictions on consumer data-sharing agreements across the business community…

Senate Majority Leader Reid Plans July Debate on Clean Energy Legislation; Will Add Oil Spill Accountability Provisions

Senate Majority Leader Harry Reid (D-Nev.) gave orders June 3 to committee chairmen to include oil spill reforms in comprehensive clean energy legislation that he plans to bring up for debate in July…