Inflation Adjustments

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Your Daily Dose of Financial News

Index-fund giant State Street is putting gender diversity on corporate boards front and center, announcing this week that it will begin voting against board members charged with nominating new directors if they don’t make an...more

Here We Go – Fed Likely to Raise the Discount Rate at Month End

In remarks to The Executives Club in Chicago this morning, Fed Chair Janet Yellen signaled the next interest rate increase. “At our meeting [of the Open Market Committee] later this month, the committee will evaluate whether...more

Continuing to Adjust Penalties: The Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015

The Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015 (“2015 Act”) became law in November 2015. The stated purpose of the 2015 Act is “to improve the effectiveness of civil monetary penalties and to...more

Orrick's Financial Industry Week In Review

Financial Industry Developments - Class Action Against Lending Club and WebBank Headed to Defeat - On Monday, January 31, 2017, a federal district court in the Southern District of New York granted a motion to...more

Reserving Claims in Latin America

Determining reserve amounts can be a daunting task. The process can be affected by various obstructing factors. Here are a few items that may affect the determination and posting of reserves for Latin American losses. ...more

U.S. CFTC Enforcement Considerations for 2017

Change is in the air and the political landscape may significantly affect the U.S. Commodity Futures Trading Commission’s enforcement agenda. Last month, Commissioner J. Christopher Giancarlo rose to the position of Acting...more

The OCC Publishes Final Rule Adjusting Civil Money Penalties for Inflation

On January 27, 2017, the Office of the Comptroller of the Currency (the “OCC“) published a final rule amending its rules of practice and procedure for national banks and in adjudicatory proceedings for federal savings...more

Regulatory Freeze Notwithstanding, Trump Administration Increases Health Fraud CMPs

The Department of Health and Human Services (HHS) is once again applying an inflation increase to maximum civil monetary penalty (CMP) amounts for HHS agencies and programs – less than five months after the last inflation...more

Quarterly Investment Update - 4th Quarter 2016

ECONOMIC REVIEW AND OUTLOOK - In this past year we were reminded again to expect the unexpected: The well-established political classes in the U.K., the U.S. and Italy learned that democracy was their Achilles’ heel, and...more

Federal Reserve Board Announces Finalized Rule Adjusting the Board’s Maximum Civil Money Penalties

On January 18, 2017, the Federal Reserve Board announced that it was adjusting its maximum civil money penalty limits, pursuant to federal law, to accommodate for inflation....more

Weekly Update Newsletter - January 2017 #3

GOVERNMENT CONTRACTS - Recognition of Tribal Organizations for Representation of VA Claimants - The Department of Veterans Affairs (“VA”) is amending its regulations concerning recognition of certain national,...more

Your Daily Dose of Financial News

On the heels of Deutsche Bank’s $7.2 billion deal, Credit Suisse has finalized the terms of its own MBS-related settlement. The Swiss bank will pay $5.3 billion to resolve claims that it misled investors about the standards...more

CFPB issues final rule to adjust civil penalties for inflation

The CFPB has published a final rule to adjust for inflation the civil penalties within its jurisdiction. The adjustments are required by the Federal Civil Penalties Inflation Adjustment Act of 1990 which, pursuant to a 2015...more

Trusts and Estates Group News: 2017 Federal Inflation Adjustments

Each year, certain federal estate, gift and generation-skipping transfer (GST) tax figures are subject to inflation adjustments. Effective January 1, 2017, the annual exclusion amount for gifts per donee remains at...more

What Now? Post-Election Thoughts for the Retail Industry

Elections are emotionally charged events and yesterday’s U.S. Presidential Election proved no exception. Regardless of which way you voted, we now have a new President in Donald Trump. So, what does his election mean for...more

Your Daily Dose of Financial News

Merrill Lynch has already staked out the position in response to the DOL’s retirement account fiduciary duty rule that it would no longer offer commission-based IRAs to retirement savers. Yesterday, it effectively doubled...more

2017 Inflation Adjustments

Rev. Proc. 2016-55 has provided adjusted figures for 2017 for tax items subject to inflation adjustments....more

Client Alert: IRS Announces Increases for Health FSAs and HSAs

The IRS has just released its 2017 annual inflation adjustments, in which it announced that the dollar limitation under Code section 125 on voluntary employee salary reductions for contribution to health flexible spending...more

Your Daily Dose of Financial News

China’s expected to announce Q3 economic growth of 6.7 percent this week—a number envied by any other country in the world but the sign of major slowdown there. Dealbook looks at what, exactly, a less-gangbusters Chinese...more

Quarterly Investment Update - 3rd. Quarter 2016

Investor confidence rebounded in the third quarter immediately following Brexit, driving the S&P 500 to new highs. Comments by the Fed in early September stirred up some volatility and share prices slipped backwards. Not...more

Projected Inflation-Adjusted Estate, Gift and GST Tax Exclusion Amounts for 2017 Now Available

Based on the Consumer Price Index for the 12-month period ending August 31, 2016, Thompson Reuters Checkpoint has released their projected inflation-adjusted Estate, Gift, GST tax, and other exclusion amounts for 2017, as...more

Weekly Update Newsletter - September 2016 #2

GSAR Construction Contract Administration - The GSA has issued a proposed rule to revise GSAR part 536, Construction and Architect-Engineer Contracts, and related parts, to maintain consistency with the FAR and to...more

HHS Inflation Adjustment Rule Hikes CMPs Across Department Programs

The Department of Health and Human Services (HHS) is increasing maximum civil monetary penalty (CMP) amounts applicable to HHS agencies and programs, in compliance with the Federal Civil Penalties Inflation Adjustment Act...more

Penalties Increased for Employee Benefit Plan Violations

Recently-enacted legislation has increased many penalty amounts for certain employee benefit plan violations. The new penalties – some of which are more than double previous amounts – were adjusted to catch up with inflation...more

DOJ Doubles Penalties for Violation of the False Claims Act

The Department of Justice (“DOJ”) has issued an interim final rule that dramatically increases the dollar amount for civil penalties that can be assessed against an entity or individual who violates the False Claims Act...more

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