Dodd-Frank.com

AICPA Provides Guidance on Conflict Minerals Representation Letters

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A standard part of every financial statement audit is providing the auditor a representation letter reaffirming certain assertions that are implicit in preparation of financial statements in accordance with GAAP. The AICPA has now provided guidance on what should be included in a representation letter for an independent private sector... Read More

Topics: Public Companies and Securities, Uncategorized

SEC Describes Profiles of Successful Whistleblowers

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In its 2014 Report to Congress on the Dodd-Frank Whistleblower Program, the SEC described the profile of successful whistleblowers. Because the SEC must keep the identity of whistleblowers confidential, it can only describe certain commonalities which included: The information provided by each award recipient was specific, in that the whistleblower... Read More

Topics: Employment, Litigation, Public Companies and Securities, Uncategorized

GAO Says CFPB Needs to Improve Data Privacy and Security

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To fulfill its statutory responsibilities, the CFPB collects large amounts of consumer financial data on credit card accounts, mortgage loans, and other products through one-time or ongoing collections. While the CFPB has taken steps to protect and secure these data collections, GAO determined that additional efforts are needed in several... Read More

Topics: Banking, Consumer Protection, Uncategorized

SEC Charges Private Equity Sponsor for Misallocation of Expenses on Integrated Portfolio Companies

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The SEC charged a private equity sponsor with breaching its fiduciary duty to a pair of private equity funds by sharing expenses between a company in one’s portfolio and a company in the other’s portfolio in a manner that improperly benefited one fund over the other. The private equity sponsor... Read More

Topics: Investment Advisers, Private Equity, Uncategorized