SEC Adopts New Short Form Criteria to Replace Credit Ratings (July 2011) resource Agency Guidances OCEG Reviewed
The Securities and Exchange Commission today voted unanimously to adopt new rules in light of the Dodd-Frank Wall Street Reform and Consumer Protection Act to remove credit ratings as eligibility criteria for companies seeking to use “short form” registration when registering securities for public sale.
Authority to Require Supervision and Regulation of Certain Nonbank Financial Companies (2011) resource National Regulations OCEG Reviewed
SUMMARY: Section 113 of the Dodd- Frank Wall Street Reform and Consumer Protection Act (the ‘‘Dodd-Frank Act’’) authorizes the Financial Stability Oversight Council (the ‘‘Council’’) to require a nonbank financial company to be supervised by the Board of Governors of the Federal Reserve System (the ‘‘Board of Governors’’) and be subject to prudential standards in accordance with Title I of the
Corporate Governance - King III report - Introduction and overview (PwC) resource Standards and Guidelines OCEG Reviewed
The release of King III (King Report on Corporate Governance for South Africa) report on 1 September 2009 represents a significant milestone in the evolution of corporate governance in South Africa and brings with it significant opportunities for organisations that embrace its principles. Documents on the site include:
NCUA, Corporate Credit Unions (2011, Final Rule) resource National Regulations OCEG Reviewed
Summary: NCUA is issuing final amendments to its rule governing corporate credit unions (corporates). The amendments include internal control and reporting requirements for corporates similar to those required for banks under the Federal Deposit Insurance Act and the Sarbanes-Oxley Act.
FASB, In Focus - Accounting Standards Update No. 2011-04: Fair Value Measurement (Topic 820): Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs (May 2011) resource Articles OCEG Reviewed
Introduction: The FASB and the International Accounting Standards Board (IASB) issued their converged guidance on fair value measurement, which represents meaningful progress toward the stated goal of their Memorandum of Understanding to create a common set of high-quality global accounting standards.
In Focus, May 12, 2011 (FASB)
FASB, Fair Value Measurement (Topic 820): Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs (May 2011) resource Standards and Guidelines OCEG Reviewed
Accounting Standards Update No. 2011-04, May 12, 2011: A FASB/IASB converged guidance on fair value measurement.
Incentive-Based Compensation Arrangements, Proposed Rule (April 14, 2011) resource National Regulations OCEG Reviewed
SUMMARY: The OCC, Board, FDIC, OTS, NCUA, SEC, and FHFA (the Agencies) are proposing rules to implement section 956 of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
IRS Releases Draft W-2 Form for 2011, Relief for Employers (October 2010) resource Articles OCEG Reviewed
October 13, 2010: The IRS issued a draft Form W-2 for 2011. The IRS also announced that it will defer the new requirement for organizations to report the cost of coverage under an employer-sponsored group health plan. It is optional for employers to report this information in 2011.
FASB, Proposed Accounting Standards Update: Compensation—Retirement Benefits—Multiemployer Plans (Subtopic 715-80): Disclosure about an Employer’s Participation in a Multiemployer Plan (September 1, 2010) resource Standards and Guidelines OCEG Reviewed
Purpose: The FASB is issuing this proposed Update to obtain feedback from stakeholders on its proposed amendments for disclosing additional information about an employer’s participation in a multiemployer plan (for example, for pension or retiree healthcare).
FASB Proposes Disclosures About an Employer’s Participation in Multiemployer Plans (Deloitte, September 2010) resource Articles OCEG Reviewed
Vol. 17 Heads Up Issue 30 (Seotember 2, 2010)