News Search
PKF O'Connor Davies
-
2021-04-07
Stimulus Pitfalls
By Carolyn Daly, Esq., Founder and Managing Partner of Daly & Associates, LLC with help from special guest contributor Barbara Bel, CPA The new stimulus bill sounds like a great deal: extra money the government is giving you, including your children, as long as your income […] The post Stimulus Pitfalls appeared first on PKF O'Connor Davies.
Read more
PKF O'Connor Davies
-
2020-07-24
The Office of the Comptroller of the Currency – Cryptocurrency Custody Services
As the financial markets become increasingly digitized, the Office of the Comptroller (OCC) has recognized the necessity to allow national banks and other institutions, such as federal savings associations, to provide traditional banking services on behalf of customers as they relate to cryptocurrencies. The OCC issued […] The post The Office of the Comptroller of the Currency – Cryptocurrency Custody Services appeared first on PKF O'Connor Davies.
Read more
PKF O'Connor Davies
-
2020-04-16
The IRS Launches Website to Offer Status on Economic Impact Payments
Did you get your Economic Impact Payment yet? Do know someone who is expecting it? The IRS launched a new website for checking on the status of the payment. The post The IRS Launches Website to Offer Status on Economic Impact Payments appeared first on PKF O'Connor Davies.
Read more
PKF O'Connor Davies
-
2020-04-14
SBA PPP Loan Forgiveness – Best Practice
Consider opening a separate bank account to substantiate PPP Loan Forgiveness. Now, applicants are beginning to receive loan proceeds under the CARES Act Paycheck Protection Program (PPP). In order to preserve loan forgiveness, borrowers must prove how they spent the loan proceeds. While it does not appear […] The post SBA PPP Loan Forgiveness – Best Practice appeared first on PKF O'Connor Davies.
Read more
PKF O'Connor Davies
-
2020-03-16
SBA Coronavirus (COVID-19) Disaster Relief Loans
Per disasterloan.sba.gov as of March 17, 2020, the following areas are approved for disaster loan assistance due to the Coronavirus (COVID-19): California, Connecticut, Idaho, Maine, Massachusetts, New Hampshire, New York, Oregon, Rhode Island, and Washington. Go here to apply for a disaster loan. For businesses […] The post SBA Coronavirus (COVID-19) Disaster Relief Loans appeared first on PKF O'Connor Davies.
Read more
PKF O'Connor Davies
-
2020-03-02
Cayman Islands Investment Fund Changes
The Cayman Islands Private Funds Law, 2020 (PFL) and the Mutual Funds (Amendment) Law, 2020 (MFL) have now been passed into law effective February, 2020. The Cayman Islands is the leading international domicile for global investment funds, both open-ended and closed-ended investment funds. The Cayman […] The post Cayman Islands Investment Fund Changes appeared first on PKF O'Connor Davies.
Read more
PKF O'Connor Davies
-
2020-01-28
ASC 606: Impact on Asset Managers
The new revenue recognition standard, ASC 606 Revenues from Contracts with Customers, is effective for the December 31, 2019 audits of nonpublic entities, including asset managers. The AICPA has published guidance for asset managers in chapter 4, “Asset Management,” of the AICPA Audit and Accounting […] The post ASC 606: Impact on Asset Managers appeared first on PKF O'Connor Davies.
Read more
PKF O'Connor Davies
-
2020-01-20
FINRA Releases Highlights from Reg BI Conference
Regulation Best Interest (“Reg BI” or the “Rule”), which will be effective June 30, 2020, establishes a “best interest” standard of conduct for broker-dealers and associated persons when they make a recommendation to a retail customer of any securities transaction or investment strategy involving securities, […] The post FINRA Releases Highlights from Reg BI Conference appeared first on PKF O'Connor Davies.
Read more
PKF O'Connor Davies
-
2020-01-16
Broker-Dealer’s Net-Capital Requirements Highlighted by SEC Charges
The SEC filed a complaint last month against the former CEO and a former employee of a broker-dealer for engaging in misleading and deceptive conduct in an effort to fabricate the net capital position of the broker-dealer. For the protection of customers, registered broker-dealers are subject […] The post Broker-Dealer’s Net-Capital Requirements Highlighted by SEC Charges appeared first on PKF O'Connor Davies.
Read more
PKF O'Connor Davies
-
2020-01-08
Beware of Affinity Fraud
If it sounds too good to be true, it probably is! Although we have seen the stock market reach record-highs, it is important that investors take caution with promises of guaranteed performance. On December 19, 2019, the Securities and Exchange Commission (SEC) charged a New […] The post Beware of Affinity Fraud appeared first on PKF O'Connor Davies.
Read more