U.S. Senate Finance Committee members and industry experts debated recommendations on business tax reform.
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The IRS and the U.S. Treasury Department examined proposed regulations to the Internal Revenue Code that would recharacterize certain debt instruments issued to related parties as equity for U.S. federal income tax purposes.
The Internal Revenue Service and the Treasury will hold a public hearing to review jointly proposed debt-equity regulations. The proposed regulations were published in the Federal Register.
The House Financial Services Committee Oversight and Investigations Subcommittee held a hearing as part of an ongoing series that examines the threat posed by cyberattacks to the U.S. economy and financial services sector. According to witnesses at the hearing, an increasing number of prominent nation-states, criminal organizations, terrorist groups and "hacktivists" are capable of carrying out cyberattacks against the United States. Additionally, witnesses asserted that the U.S. financial sector is at increased risk of cyberattack relative to other sectors. C li ck here to view a summary of
The House Financial Services Subcommittee on Financial Institutions and Consumer Credit held a hearing titled "Protecting Critical Infrastructure: How the Financial Sector Addresses Cyber Threats." The purpose of the hearing was to give members of the Committee on Financial Services (the "Committee") a better understanding of: (i) how the financial sector protects itself from cyber threats, (ii) how market participants coordinate information sharing between themselves and federal agencies, (iii) what types of security measures and standards are in place to prevent breaches, and (iv) what types