After serving time, fraudster cautions against PPP, other emergency loans

Taking money hastily can create more problems than it solves if the additional resources aren’t tethered to need.

By Robert Freedman • Jan. 27, 2021

Remote work, whistleblower laws poised to fuel PPP, other fraud prosecutions

As the second year of PPP loans winds down, expect a surge in allegations by employees who feel declining allegiance to their employers, attorneys say.

By Robert Freedman • Jan. 26, 2021

Companies denied PPP forgiveness can take tax credit, IRS says

A change Congress made in December allows the credit for some PPP loan recipients.

By Robert Freedman • Jan. 26, 2021

Deregulation critic Allison Herren Lee named acting SEC chair

The financial regulation specialist has been a voice against weakening the oversight structure protecting investors.

By Robert Freedman • Jan. 23, 2021

SEC to take harder line on financial reporting, attorneys say

COVID-19 and ESG disclosures, information controls and SPACs could receive increased scrutiny, along with accuracy of filings as part of Biden’s SEC approach. 

By Robert Freedman • Jan. 21, 2021

IRS postpones date for companies to repay deferred payroll taxes

Companies now must repay 2020 taxes delayed as part of pandemic-related relief by Dec. 31, rather than April 30.

By Jim Tyson • Jan. 21, 2021

What can go wrong with a SPAC? More than you can imagine, says CFO

In the rush to get a deal done, choose the right merger partner and watch costs, says 180 Life Sciences finance chief Ozan Pamir.

By Ted Knutson • Jan. 20, 2021

Biden tax, oversight plans could add to M&A costs

Sellers can be expected to seek higher valuations to offset higher corporate tax rate and capital gains changes, deal specialists say. And some deals could get more regulatory scrutiny.

By Robert Freedman • Jan. 19, 2021

Biden expected to raise corporate tax rate, add tax on book income

Some $3 trillion in potential new tax income could go to infrastructure, alternative energy, and manufacturing as well as provide tax relief to middle- and lower-income households.

By Robert Freedman • Jan. 18, 2021

Former Clinton CFO, CFTC head Gary Gensler expected to be named SEC chief

Should the Senate confirm the long-time Washington policymaker, he will likely prioritize ESG reporting and tighter regulatory safeguards.

By Robert Freedman • Jan. 14, 2021

2021 Outlook: Why, and how, the CFO should lead ESG efforts

This year, CFOs should prepare their companies for increased scrutiny on environmental, social and governance performance, if they haven't already. 

By Jane Thier • Jan. 12, 2021

As fraud rises, CFOs must approach numbers skeptically, report finds

Executives might be committed to accuracy, but middle managers and others throughout the organization must be on board, too.

By Robert Freedman • Jan. 12, 2021

Hotels, restaurants to get larger PPP loans

The second round expands eligible uses to cloud computing and other operational expenses as well as essential supplies.

By Robert Freedman • Jan. 5, 2021

Leveraged lending not a threat to stability, federal watchdog says

Leveraged lending and collateralized loan obligations — flagged by federal agencies for risks before the pandemic — have stabilized since March but regulators are watchful, according to a GAO report. 

By Jim Tyson • Dec. 22, 2020

China's Luckin Coffee falsified sales; hit with $180M SEC fine

The company misstated earnings and revenue to suggest it was achieving rapid growth and increased profitability when it wasn't, the agency says in its settlement agreement. 

By Robert Freedman • Dec. 17, 2020

Feds OK 18-month LIBOR reprieve

Existing instruments are expected to be main beneficiaries; new issues still on track to use different rates.

By Robert Freedman • Dec. 14, 2020

SEC fines GE $200M, disclosure failures of cost estimate changes at core of penalty

The company never disclosed some profits from its power business stemmed from changes to cost estimates, not increased business, the SEC alleges. 

By Robert Freedman • Dec. 10, 2020

Cheesecake Factory misled on COVID-19 disclosures, SEC says

The company told the SEC it was operating sustainably, but only had 16 weeks of cash available.

By Robert Freedman • Dec. 5, 2020

Sustainability reporting nearly universal among large companies, survey finds

Although some reporting standards are widely used, there isn’t a single framework for companies to ensure accurate measurement and communication of their environmental impact, a KPMG survey found. 

By Robert Freedman • Dec. 2, 2020

Transition away from US dollar LIBOR, bank regulators say

The rate-setting index goes away in a year, but banks are advised to start using other rates now. 

By Robert Freedman • Dec. 1, 2020

Last-ditch SEC effort on gig worker equity pay expected to fail

A Biden administration is unlikely to support internet platform companies' desire to pay up to 15% of gig workers' pay in shares.

By Robert Freedman • Dec. 1, 2020

SEC charges e-commerce startup with defrauding investors

CEO Andrew Chapin told investors Benja was a successful online advertising platform, generating millions of dollars in revenue from popular consumer clothing brands and retailers, but it wasn't. 

By Robert Freedman • Nov. 24, 2020

IRS reiterates PPP-paid expenses not deductible if loan forgiven

Lawmakers will seek to reverse the guidance in upcoming legislation.

By Robert Freedman • Nov. 22, 2020

SEC Chairman Jay Clayton to step down

The agency's focus included deregulation, IPOs and the whistleblower program under the Trump appointee's leadership.  

By Robert Freedman • Nov. 16, 2020

Using data analytics to improve audit functions

Data analytics let finance leaders employ a risk-based approach to conducting internal and compliance audits and prioritize improvements when problems are found.  

By Greg Buchanan, Michael Costa and Ed Levy • Nov. 8, 2020