Financial Planning

The Securities and Exchange Commission adopted a new rule Wednesday to implement a JOBS Act requirement to lift the ban on general solicitation or general advertising for certain private securities offerings for business startups, while also adopting rules to discourage fraudsters from touting the investments and to add new protections for investors.

To address the market demand for training in Extensible Business Reporting Language, or XBRL, the American Institute of CPAs and XBRL US, the nonprofit consortium for XBRL business reporting standards in the U.S., have introduced an XBRL US GAAP Certificate Program.

Only 14 percent of capital markets executives at leading investment banks believe the JOBS Act is having a positive impact on increasing the number of IPOs on U.S. exchanges, according to a new survey by BDO USA.

The Securities and Exchange Commission’s custody rule governing investment advisors’ custody of client assets imposes various requirements and, in turn, costs on investment advisors, according to a new report by the Government Accountability Office.

The Financial Planning Coalition submitted a letter to the Securities and Exchange Commission saying it would "vigorously oppose" attempts to weaken the fiduciary standard for broker-dealers and submitted research showing a client-first standard does not limit advice to “mass market” clients.

The Financial Accounting Standards Board is issuing a new accounting standards update on Monday that defers indefinitely certain disclosures about investments held by nonpublic employee benefit plans in their plan sponsors’ own nonpublic equity securities.

Check out the digital edition of the July 2013 issue of Accounting Today.

The Internal Revenue Service has proposed tax relief for money market fund investors in response to concerns about proposed reforms from the Securities and Exchange Commission in the money market industry that could trigger so-called “wash sale’ tax rules.

John Napolitano, chairman and CEO of U.S. Wealth Management, sat down with managing editor Tamika Cody to discuss the mistakes CPAs make when they head into the world of financial planning.

Sen. Pat Roberts, R-Kan., and Rep. Tom Price, R-Ga., have introduced legislation in the Senate and the House to block foreign governments from collecting taxes on securities transactions.