Category: Financial regulation

GAO Tells SEC to Look in the Mirror Regarding Internal Control Failures

The U.S. Government Accountability Office (“GAO”), a government watchdog group, recently reported the results of its 2014 audit of the Securities and Exchange Commission (“SEC”) financial statements.  The findings included (i) troubling reports of internal control failures at the very agency tasked with policing the reporting activities of others and (ii) warnings of vulnerability to …

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IRS Workers Found to Have Evaded Tax Payment

A recent report indicated that over a 10 year period approximately 1,600 Internal Revenue Service (“IRS”) employees willfully evaded their tax obligations.  The wrongful activity included: failing to file timely claiming improper dependents claiming improper first-time homebuyer credits  

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The Current Drop in Gasoline Prices Across the US Has Many Influences

With the national average for ’87 octane falling below $3 a gallon, American drivers are paying less at the pump than they have since the beginning of the Great Recession (in terms of seasonality price, the current average is the lowest since 2009, in terms of absolute pricing, an average gallon of gas hasn’t been …

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