This is the greatest time ever to be an interactive part of Our Democracy, technological advances have made it so possible to be a part of the activity, there is no reason not to stand for your better interests on Public Policy. The Policies we Focus on are the ones that impact you Financially. We aim to become a better part of keeping you in front of changes that matter. Our unique viewpoints and wide scope of awareness and knowledge is of benefit to many interests In Business and on the Individual level.
We are here for Financial Services and for General Business, we believe in finding the Best Value at the cross roads where the interests of Industries and Individuals meet. We are looking at the Picture from a Comprehensive perspective and benefiting from seeing the Picture in it's broadest spectrum. We can support your needs in English and in Spanish. Si se Quiere, hablaremos in Castellaño con gusto!.
While entering the theme of Linguisitics, we offer a shift in Focus to Culture and Analytics:
Diversity is a key to alternate view points and complimentary solutions approached from different angles, my favorite way to express this is that each and every language has its unique way of expressing ideas and hence solving problems. When we bring this diversity together we achieve the richness that is the Talent Pool we call the Melting Pot. Our greatest National advantage is our diversity and ability to be at the cross roads of modern society. In an anecdotal point on problem solving consider that in one language we may approach descriptions by stating what something is from the outside in, my example maybe not the best but here it is; An Apple Orchard, Many Trees, Paths, Green, Tree, Apples, Branches Stems (from the outward in in description), in the next language the way to explain this may be the reverse (from the inside outward) Branch Stems, Apples, Tree, Green, Paths, Apple Orchard because languages focus on different details - while my example is generic (and not emphasizing the different details) - you can take the meaning that the point of view and where you start in problem solving may lead you to different details on path to solutions - on teamwork this can be a great factor in benefit, and in the overall its how we all uniquely add value as individuals because there are Cultural Reference Frames, Linguistic Reference Frames and Individual (Unique Personality) reference frames and more advantages to be drawn upon.
We care about your Business, your Finances, the opportunities we share as a Nation and in the International Community and Focusing on bringing back strength to Our National Economy. While some of our thoughts and interests branch beyond the realm of Accounting, please remember that we are here for Business Consulting too and our ability to connect with ideas can add value to your Business in unexpected and positive ways. This happens in Accounting, Taxes, Financial Analysis, Regulatory work and Business Analysis - we have gained great abilities to find solutions to problems through our connection with Diversity and the related rich opportunity to see and experience different view points in Problem Solving. In all of our Problem Solving we are focused on Solutions that are in compliance with applicable Standards, Rules and Laws but our open viewpoint and Entrepreneurial approach adds additional value.
We are glad to be here for you with the opportunity to assist you on a wide range of Business and Individuals needs. We draw upon broad ranging experiences to bring you greater value.
Thursday, May 19, 2011
Tuesday, May 17, 2011
CFR Title 17 Commodity and Securities Exchanges CH II - SECURITIES AND EXCHANGE COMMISSION, a key source on Broker-Dealer Regulatory Accounting and Reporting
CFR Title 17 - Commodity and Securities Exchanges. CH II - SECURITIES AND EXCHANGE COMMISSION (CONTINUED). PART 240 - GENERAL RULES AND REGULATIONS, SECURITIES EXCHANGE ACT OF 1934. Subpart A - Rules and Regulations Under the Securities Exchange Act of 1934. - Rules Relating to Over-The-Counter Markets..
The SEC Act 34 is the Legal home to key rules for Broker-Dealers, begining with § 240.15c1-3 Misrepresentation by brokers, dealers and municipal securities dealers as to registration. § 240.15c1-2 Fraud and misrepresentation. § 240.15c2–1 Hypothecation of customers’securities. § 240.15c3–1 Net capital requirements for brokers or dealers. § 240.15c3-2Customers' free credit balances.§ 240.15c3-3 Customer protection—reserves and custody of securities. and other important SEC Rules for Broker-Dealers.
We are here to assist you on Broker-Dealer Accounting, Regulatory Accounting, Reporting, Net Capital Analysis and Consulting, Trade and Settlement Date Accounting, Subordinated Equity, FINOP/ FOCUS Reporting and more. Where you need assistance on SEC Reporting or analysis of SEC Reporting we are interested in supporting you for Business Consulting or other needs. We have prior Business experience supporting Broker-Dealers in key roles on the Controllership end, and in managing FINRA and NYSE Audit Responses and would be happy to assist your firm. Where we are able to do so. We are also interested in supporting your FINOP / Series 27 work - but would require current sponsorship.
We are adept at applying SEC Rules in Part 240 to Broker-Dealer Accounting and Reporting Operations. We support your needs by connecting Accounting and Regulatory SEC Reporting with its Legal Basis in SEC Rules under CFR Title 17 and more. Call on dcarsoncpa.com when you require assistance, we Focus on Accounting, Tax, Regulatory and other related research for the best interests of your Compliance on GAAP / IFRS, Taxes, SEC Rules and more to assist you on your comprehensive needs for Accounting, Operations, Reporting and Compliance in Financial Services.
The SEC Act 34 is the Legal home to key rules for Broker-Dealers, begining with § 240.15c1-3 Misrepresentation by brokers, dealers and municipal securities dealers as to registration. § 240.15c1-2 Fraud and misrepresentation. § 240.15c2–1 Hypothecation of customers’securities. § 240.15c3–1 Net capital requirements for brokers or dealers. § 240.15c3-2Customers' free credit balances.§ 240.15c3-3 Customer protection—reserves and custody of securities. and other important SEC Rules for Broker-Dealers.
We are here to assist you on Broker-Dealer Accounting, Regulatory Accounting, Reporting, Net Capital Analysis and Consulting, Trade and Settlement Date Accounting, Subordinated Equity, FINOP/ FOCUS Reporting and more. Where you need assistance on SEC Reporting or analysis of SEC Reporting we are interested in supporting you for Business Consulting or other needs. We have prior Business experience supporting Broker-Dealers in key roles on the Controllership end, and in managing FINRA and NYSE Audit Responses and would be happy to assist your firm. Where we are able to do so. We are also interested in supporting your FINOP / Series 27 work - but would require current sponsorship.
We are adept at applying SEC Rules in Part 240 to Broker-Dealer Accounting and Reporting Operations. We support your needs by connecting Accounting and Regulatory SEC Reporting with its Legal Basis in SEC Rules under CFR Title 17 and more. Call on dcarsoncpa.com when you require assistance, we Focus on Accounting, Tax, Regulatory and other related research for the best interests of your Compliance on GAAP / IFRS, Taxes, SEC Rules and more to assist you on your comprehensive needs for Accounting, Operations, Reporting and Compliance in Financial Services.
Monday, May 16, 2011
Securities and Exchange Commission Acts 1933, 1934 + 1940s Investment Acts - We are here to Assist on related Accounting, Compliance and Reporting needs.
US CFR (Executive Branch Rules) Title 17 Commodity and Securities Exchange Ch. II Part 210 - Form and Content of and Requirements for FINANCIAL STATEMENTS, SECURITIES ACT OF 1933, SECURITIES EXCHANGE ACT OF 1934, PUBLIC UTILITY HOLDING COMPANY ACT OF 1935, INVESTMENT COMPANY ACT OF 1940, INVESTMENT ADVISERS ACT OF 1940, and ENERGY POLICY AND CONSERVATION ACT OF 1975. Is a key source for SEC Regulatory Reporting Accounting Rules dealing with Qualifications of Accountants, Audits, Financial Statements and Elements thereof. We are most interested at this point in Elements of this section of Executive Branch Rules for their specific application to Accountants and to the Financial Services Industry. We are for the time present focused on SEC Acts 1933, 1934 and the Investment Acts 1940 for their relevancy to our experience in Financial Services work and areas of forward interest.
The SEC Acts of 1933 + 1934 deal with initial issuance and subsequent sales of Securities in Financial Markets and Related Requirements - a substantial core of Market Related Accounting, Reporting and other related requirements for Financial Services Accountants covering IPOs, Capital Makets in Equity and Debt Securities, Broker-Dealers and more. We will go in depth with all we see in so far as it pertains to CPAs or Related Services. With prior Hands on Experience in the role providing FINOP / Net Capital Rule Focus Reporting under 15c3-1 and a ready status to include 15c3-3.
The SEC Acts of 1940 pertaining to Investment Companies and Investment Advisers are key considerations for Asset Management Firms and Research / Advisory Firms. As a CPA Practise with a close connection to the Asset Management Industry through experience and expertise, it makes sense to spend some time in this specific area.
We connect with core Accounting Rules under FASB US GAAP Accounting Standards Codifications in this case focusing on Industry Topic 940 - Financial Services - Broker-Dealers and Industry Standards Topic 946 - Financial Services Investment Companies. In the Case of Broker-Dealers we must consider GAAP, the SEC Laws and FINRA Rules to be comprehensive. For Investment Management Firms the Same in GAAP, SEC Laws and FINRA rules. Registration requirements for Investment Advisors (while currently under review at Law) being covered at the Federal or State Level depending on Assets and introducing the next level of regulation required to be observed at the State Level.
Why not limit the consideration of this at the Doors of US GAAP?, it is not possible to limit this analysis at the Doors of US GAAP because Laws and Rules play a large part in Financial Services Businesses and to truly be effective means to understand this and be aware of this. Yes we are limited to the role of Public Accounting or Consulting that is driven by Accounting and Reporting - but the objective is to be comprehensively tuned in to the many Laws and Rules that pertain to Financial Services and other Businesses to best support them, in Accounting, In Tax, In Regulation and Operations and in so doing we reach our greatest value added capacity when you combine this awareness with Accounting Skills, Research Expertise and in our specific pathway for relative continuing education on one of the key Industries we support the Asset Management Industry.
We are a CPA Service and Business Consulting Solution with specific area expertise with Broker-Dealers and Asset Management Firms and experience that includes prior work from the Controllers End interfacing with NYSE Coordination, FINRA and the SEC - work specifically focused on Regulatory Reporting, Accounting and Financials. For this very reason we can be a strong selection for Businesses with related needs. Stay tuned with us here in our blog and we will continue to expand on the related theme, but at this point you are sufficiently aware that we are here for you on related service needs.
The SEC Acts of 1933 + 1934 deal with initial issuance and subsequent sales of Securities in Financial Markets and Related Requirements - a substantial core of Market Related Accounting, Reporting and other related requirements for Financial Services Accountants covering IPOs, Capital Makets in Equity and Debt Securities, Broker-Dealers and more. We will go in depth with all we see in so far as it pertains to CPAs or Related Services. With prior Hands on Experience in the role providing FINOP / Net Capital Rule Focus Reporting under 15c3-1 and a ready status to include 15c3-3.
The SEC Acts of 1940 pertaining to Investment Companies and Investment Advisers are key considerations for Asset Management Firms and Research / Advisory Firms. As a CPA Practise with a close connection to the Asset Management Industry through experience and expertise, it makes sense to spend some time in this specific area.
We connect with core Accounting Rules under FASB US GAAP Accounting Standards Codifications in this case focusing on Industry Topic 940 - Financial Services - Broker-Dealers and Industry Standards Topic 946 - Financial Services Investment Companies. In the Case of Broker-Dealers we must consider GAAP, the SEC Laws and FINRA Rules to be comprehensive. For Investment Management Firms the Same in GAAP, SEC Laws and FINRA rules. Registration requirements for Investment Advisors (while currently under review at Law) being covered at the Federal or State Level depending on Assets and introducing the next level of regulation required to be observed at the State Level.
Why not limit the consideration of this at the Doors of US GAAP?, it is not possible to limit this analysis at the Doors of US GAAP because Laws and Rules play a large part in Financial Services Businesses and to truly be effective means to understand this and be aware of this. Yes we are limited to the role of Public Accounting or Consulting that is driven by Accounting and Reporting - but the objective is to be comprehensively tuned in to the many Laws and Rules that pertain to Financial Services and other Businesses to best support them, in Accounting, In Tax, In Regulation and Operations and in so doing we reach our greatest value added capacity when you combine this awareness with Accounting Skills, Research Expertise and in our specific pathway for relative continuing education on one of the key Industries we support the Asset Management Industry.
We are a CPA Service and Business Consulting Solution with specific area expertise with Broker-Dealers and Asset Management Firms and experience that includes prior work from the Controllers End interfacing with NYSE Coordination, FINRA and the SEC - work specifically focused on Regulatory Reporting, Accounting and Financials. For this very reason we can be a strong selection for Businesses with related needs. Stay tuned with us here in our blog and we will continue to expand on the related theme, but at this point you are sufficiently aware that we are here for you on related service needs.
Sunday, May 15, 2011
Federal Financial Institutions Examination Council (FFIEC)
USC Title 12 - Ch 34 introduces the Federal Financial Institutions Examination Council (FFIEC), the purpose of which per § 3301. Declaration of purpose is to establish a Financial Institutions Examination Council which shall prescribe uniform principles and standards for the Federal examination of financial institutions by the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Board of Governors of the FederalReserve System, the Federal Home Loan Bank Board, and the National Credit Union Administration and make recommendations to promote uniformity in the supervision of these financial institutions. The Council’s actions shall be designed to promote consistency in such examination and to insure progressive and vigilant supervision.
We will expand this section on Banks and FFEIC Reports as time goes by. We are here for you on related project work.
Banks and Banking Financial Recordkeeping in Federal and State Statutes
Banks and Banking find their Place in USC Title 12 - Banks and Banking as CPAs our key role can be seen in Ch 21 Financial Recordkeeping. The Title is broad and mentions ownership records and procedures and it goes on to outline Civil and Criminal Penalties and key requirements like : § 1952. Reports on ownership and control and
§ 1953. Recordkeeping and procedures clearly key areas for involvement of Accountants in Banking. Bank Regulation occurs at both the Federal and State Levels so we will build this section out with extensions for some states in the near future. For now suffice to say that we have Commercial and Investment banking experience that stretches into Asset Liability Management to a degree and awareness of Bank Reserve Accounting and other key elements. We are here to assist you on CPA Services for Banks in NY, CT and other states as able to do so based on reciprocity or as Consultants. Call on http://www.dcarsoncpa.com/ your source for CPA Services and Regulatory Accounting and other specialized Business Consulting needs.
§ 1953. Recordkeeping and procedures clearly key areas for involvement of Accountants in Banking. Bank Regulation occurs at both the Federal and State Levels so we will build this section out with extensions for some states in the near future. For now suffice to say that we have Commercial and Investment banking experience that stretches into Asset Liability Management to a degree and awareness of Bank Reserve Accounting and other key elements. We are here to assist you on CPA Services for Banks in NY, CT and other states as able to do so based on reciprocity or as Consultants. Call on http://www.dcarsoncpa.com/ your source for CPA Services and Regulatory Accounting and other specialized Business Consulting needs.
The Basis for our Federal Budget Process in US Law
Our Federal Budget process finds its basis in US Law under USC Title 31: Money and Finance Sub Title II The Budget Process which is further broken down into Chapters and Sub-Chapters. Where we find some relevant titles like : § 1102. Fiscal year, § 1103. Budget ceiling, § 1104. Budget and appropriations authority of the President, and § 1105. Budget contents and submission to Congress which all let us know we are in the right place to Learn more about our Federal Governments Accounting Process on the Budgeting and Planning end.
Stay with us and we will continue to learn and share more about the mechanics and function of Public Finances so we can all be of better assistance in the conversation about how to help on Federal Finances in the better interest of National Debt Reduction. We hope that you will stay informed on your Local, State and Federal Finances and look for ways to help.
Stay with us and we will continue to learn and share more about the mechanics and function of Public Finances so we can all be of better assistance in the conversation about how to help on Federal Finances in the better interest of National Debt Reduction. We hope that you will stay informed on your Local, State and Federal Finances and look for ways to help.
Saturday, May 14, 2011
USC Title 15 Commerce and Trade Ch 2D Investment Companies and Advisers
The Asset Mangement Industry, specifically Investment Companies and Investment Advisers each covered under corresponding SEC Acts in the 1940s, can find their Legal Basis in US Code under Title 15 Commerce and Trade in CH 2D - Investment Companies and Advisors which provides significant guidance to the formation and operation of these entities, including penalties for the places where operations may not be in keeping with the Code. We are early in the review process of the Full Range of USC Title 15 so there is more to discuss on the matter from the viewpoint of the Compliance End where we can add value through knowledge of source laws in addition to GAAP.
We posses wide ranging specific Accounting, Reporting and Controlling driven expertise from Asset Management, Investment Banking and Financial Services at Large, we encourage you to call on us for your corresponding needs for Accounting, Taxation, Reporting, Advisory, Compliance and other related needs in expertise. You can find us at http://www.dcarsoncpa.com/ . We will continue to build out our discussions on the Asset Management business to be sure that you are aware that we are here for you on related CPA Services and Business Consulting. In the meantime be advised that while we are focusing on USC Title 15 as the Legal Source for the SEC Acts 40 on Investment Companies here, our mainstream guidance on the Accounting end is based on hands on experience.
Our Investment Management experience that includes several rounds of Investment Company Audits, SEC Audits, Financial Accounting, Operational Accounting, Financial Reporting, International Reporting and more in key Management Accounting roles in the Asset Management LOB. We draw upon further authoritative guidance from the SEC Acts, FASB and IFRS on Accounting and Financial Reporting that is non-compliance driven, AICPA Technical support and lastly progressive workflow with NYSSA Classes on Portfolio Management track knowledge on Products - Bonds, Equities,Options, Yield Curves, Pricing, Time Value Money, Discounting, Market Theories, Economics, Analytics, Statistics and more. All of which enhances our ability to support Asset Management and other Investment Banking Businesses. When you add the extra Portfolio Management focused knowledge to the existant hands on expertise over the years in the Investment Management Industry, we make a smart choice for a Business Partner on CPA Services and Business Consulting with the experience of having been on the operations side in leading roles.
We posses wide ranging specific Accounting, Reporting and Controlling driven expertise from Asset Management, Investment Banking and Financial Services at Large, we encourage you to call on us for your corresponding needs for Accounting, Taxation, Reporting, Advisory, Compliance and other related needs in expertise. You can find us at http://www.dcarsoncpa.com/ . We will continue to build out our discussions on the Asset Management business to be sure that you are aware that we are here for you on related CPA Services and Business Consulting. In the meantime be advised that while we are focusing on USC Title 15 as the Legal Source for the SEC Acts 40 on Investment Companies here, our mainstream guidance on the Accounting end is based on hands on experience.
Our Investment Management experience that includes several rounds of Investment Company Audits, SEC Audits, Financial Accounting, Operational Accounting, Financial Reporting, International Reporting and more in key Management Accounting roles in the Asset Management LOB. We draw upon further authoritative guidance from the SEC Acts, FASB and IFRS on Accounting and Financial Reporting that is non-compliance driven, AICPA Technical support and lastly progressive workflow with NYSSA Classes on Portfolio Management track knowledge on Products - Bonds, Equities,Options, Yield Curves, Pricing, Time Value Money, Discounting, Market Theories, Economics, Analytics, Statistics and more. All of which enhances our ability to support Asset Management and other Investment Banking Businesses. When you add the extra Portfolio Management focused knowledge to the existant hands on expertise over the years in the Investment Management Industry, we make a smart choice for a Business Partner on CPA Services and Business Consulting with the experience of having been on the operations side in leading roles.
State of the States for ALL 50 and Special Initiatives for NY & CT
Today was a productive day in finding more relevant Facts on the State Level Debt issues and Financial Challenges. We were able to identify the National Governors Association as a strong resource to provide us overview on State Level Debt and Operations issues and to Learn of the State Level Executives Branches initiatives on efficiency. We tweeted the corresponding Findings on our Twitter channels and updated them as links to our FB Page DCarsonCPA.com for those with interest in helping out.
We see the close relationship between your Business and Individual Taxes and Regulatory Accounting as a strong reason to look for additional understanding in trends that are influencing your Tax Bills and our shared Economic Future. We hope that you agree that the understanding of National, State and Local Finances is a worthy cause. We are counting on you to work with us on our mainline CPA Services and Business Consulting work so we can continue this additional work here.
The Reports we have linked are great starting sources on State Level Finances - The 2011 Govenors State of the State Addresses Briefing consolidates the view points of all 50 Governors in overview, a report on the condition of the State current as of Fall 2010 (the report only is issued by NGA in the spring and fall of each year) provides most recent useful state finances in overview for the nation. Lastly in what was a great find for us we found the NY State Executive Branches SAGE intitiative to look for efficiency savings in the NY State Government and the State of Connecticut Report that was issued to the Governor, the CT Senate and the CT House at 12/15/10 pointing out findings on efficiency opportunities for the State of Connecticut. See our FB Page for these links at FB Page DCarsonCPA.com. If you like the information we are working to bring you, please feel free to post a "like" on our FB page, we value your encouragement.
The National Govenors Association being the Executive group, as we previously had learned there is also the National Conference of State Legislatures, State Legislative Leaders Foundation (SLLF), The Council of State Governments, and NASACT (the National Association of State Auditors, Controllers and Treasurers) which are all further complimented by the State Government Affairs Council and likely other additional agency or state specific groups. We are just begining to identify the many resources that exist for greater information on these groups that provide excellent resources for learning more about State Level challenges with Deficits and Debts. As we continue to identify relevant helpful resources we will build out a corresponding index for our work efforts to support National, State and Local Finance awareness for our mutual benefit on the Nations Future.
There's alot to be considered here, and this is exactly why we need to work together to make this process easier for those who are interested in helping our nations economic and financial future. Follow with us as we continue to grow in knowledge of Governmental Accounting, Reporting and Finance in the greater interest of helping to think about our National Economic Future.
We see the close relationship between your Business and Individual Taxes and Regulatory Accounting as a strong reason to look for additional understanding in trends that are influencing your Tax Bills and our shared Economic Future. We hope that you agree that the understanding of National, State and Local Finances is a worthy cause. We are counting on you to work with us on our mainline CPA Services and Business Consulting work so we can continue this additional work here.
The Reports we have linked are great starting sources on State Level Finances - The 2011 Govenors State of the State Addresses Briefing consolidates the view points of all 50 Governors in overview, a report on the condition of the State current as of Fall 2010 (the report only is issued by NGA in the spring and fall of each year) provides most recent useful state finances in overview for the nation. Lastly in what was a great find for us we found the NY State Executive Branches SAGE intitiative to look for efficiency savings in the NY State Government and the State of Connecticut Report that was issued to the Governor, the CT Senate and the CT House at 12/15/10 pointing out findings on efficiency opportunities for the State of Connecticut. See our FB Page for these links at FB Page DCarsonCPA.com. If you like the information we are working to bring you, please feel free to post a "like" on our FB page, we value your encouragement.
The National Govenors Association being the Executive group, as we previously had learned there is also the National Conference of State Legislatures, State Legislative Leaders Foundation (SLLF), The Council of State Governments, and NASACT (the National Association of State Auditors, Controllers and Treasurers) which are all further complimented by the State Government Affairs Council and likely other additional agency or state specific groups. We are just begining to identify the many resources that exist for greater information on these groups that provide excellent resources for learning more about State Level challenges with Deficits and Debts. As we continue to identify relevant helpful resources we will build out a corresponding index for our work efforts to support National, State and Local Finance awareness for our mutual benefit on the Nations Future.
There's alot to be considered here, and this is exactly why we need to work together to make this process easier for those who are interested in helping our nations economic and financial future. Follow with us as we continue to grow in knowledge of Governmental Accounting, Reporting and Finance in the greater interest of helping to think about our National Economic Future.
Wednesday, May 11, 2011
Investor Protection Awareness - is a key personal Obligation for any Investor
Investor Protection Awareness (IPA) is a key personal Obligation for any Investor, to be willing to Invest in Capital Markets or other Investments, a prudent first step is to inform yourself about how Financial Investments and the Markets work. This process begins with an Individual taking responsibility for their interest to invest by preparing with some reasonable learning on the front end to make better informed Investing decisions and to protect their Individual Assets. While Investing is a personal decision and a personal responsibility, our government at the Federal and State levels works very hard to assist in educating consumers on how to best protect themselves in the process and these efforts are referred to as "Investor Protection Awareness." We care about your Business and your Finances as CPAs and Trusted Advisors so we wanted to take some time here to share these resources for your in an easy to find manner for your best benefit in consideration of Investments.
On the Federal Level the SEC's website Investor.gov is a good starting point, next up we recommend FINRA's (SRO of the Financial Industry) site http://www.finra.org/Investors/. Thereafter you can find more information on Investor Protection Awareness that is broader than Financial Markets at the State Levels for many areas of Personal Financial Decision making. The IPA websites are generally on your State Attorney Generals websites and if you should have related issues with Investment Fraud or attempted Fraud, your State OAG is there to help, if the issue crosses state lines - call the SEC and they can help.
We are providing links for New York (NY), Connecticut (CT), California (CA) and Texas (TX) if we did not cover your area please Google "Investor Protection Awareness" or go to your State Attorney General's website (we used CT Dept. of Banking for CT IPA) as a key start point to find your state level IPA.
On the Federal Level the SEC's website Investor.gov is a good starting point, next up we recommend FINRA's (SRO of the Financial Industry) site http://www.finra.org/Investors/. Thereafter you can find more information on Investor Protection Awareness that is broader than Financial Markets at the State Levels for many areas of Personal Financial Decision making. The IPA websites are generally on your State Attorney Generals websites and if you should have related issues with Investment Fraud or attempted Fraud, your State OAG is there to help, if the issue crosses state lines - call the SEC and they can help.
We are providing links for New York (NY), Connecticut (CT), California (CA) and Texas (TX) if we did not cover your area please Google "Investor Protection Awareness" or go to your State Attorney General's website (we used CT Dept. of Banking for CT IPA) as a key start point to find your state level IPA.
Insider Trading, know the Rules and related notes.
In light of news events today with the WSJ Blog reported conviction of the Founder of Galleon on 14 Insider Trading charges (link to WSJ source http://blogs.wsj.com/marketbeat/2011/05/11/raj-rajaratnam-convicted-what-kind-of-time-are-we-talking/?mod=google_news_blog ), it creates a good opportunity to return to some points we had mentioned before on Twitter and on our FB Page in previous posts. CPAs are bound to high standards as Licensed professionals, in our education process we learn about Accounting, Business Law, Tax Law, Finance, Business Formation and more, much of this to avoid issues like "Insider Trading" and other issues in Business.
For CPAs (like myself) with specific area expertise in Financial Services we go on to learn more about SEC Laws, FINRA Rules, Capital Markets, Securities and other related factors. In any Financial Services business and for all Investors in Capital Markets a very key and central Law is regarding "Insider Trading," the goal of which is to create a level playing field for Investors so that Market Participants with "Insider Information" are prohibited from Trading on that knowledge (and taking monetary gains on material non-public information) until it becomes Public Information (the goal is preventing Insiders from taking advantage of less informed Investors in the General Public). The best source for background on this is in my opinion the SEC itself follow this link the SEC on "Insider Trading" to Learn more http://www.sec.gov/answers/insider.htm.
Since the SEC is a key part of Financial Market Regulation. If you are an Investor or a participant in Financial Markets, you must know the rules so be sure to know all you can on "Insider Trading" and commit to not becoming a part of Insider Trading to best protect your Financial Assets, Individual Freedom and your Business Reputation all of which are valuable Assets.
On a related note of Interest, since part of what we are doing in career development is pursuing the CFA designation, we can also tell you that a portion of a CFAs preparation path at level 1 is dedicated to thoroughly understanding the rules of Insider Trading so as not to arrive in a position later down the road as an Investment Analyst or Portfolio Manager where you would violate these rules. Portfolio Managers, Reserchers and Analysts and others who are CFAs place significant care on the imortance of not violating "Insider Trading" rules.
We believe that the SEC is a best source of definitions on "Insider Trading" so their link is provided here, but suffice to say that possession of Material Non-Public Information (as was indicated in the WSJ article on the Galleon / Rajaratnam case also cited above), followed by an action to Trade on that Information or Encourage others to Trade on that information would bring you into the Realm of Insider Trading. Insider Trading is about Information and the desire of our government to maintain a level playing field in Financial Markets where Financial Experts are restrained in ways that they expect will support Investor Protection by providing equal information opportunity.
While the SEC provides a key role in segments of Financial Market Regulation, there are also other relevant govenment regulators to consider in other Market Areas. For the context of our discussion here we are Focused on the SEC and their role on Insider Trading on Capital Markets, we would also like to introduce that FINRA a Self Regulating Organization (SRO) is the Financial Industries oversight body which functions to also protect Investors and diminish Insider Trading Operations by assisting in the Control of Market Data information by limiting channels for Insider Communications and otherwise protecting Investors.
For CPAs (like myself) with specific area expertise in Financial Services we go on to learn more about SEC Laws, FINRA Rules, Capital Markets, Securities and other related factors. In any Financial Services business and for all Investors in Capital Markets a very key and central Law is regarding "Insider Trading," the goal of which is to create a level playing field for Investors so that Market Participants with "Insider Information" are prohibited from Trading on that knowledge (and taking monetary gains on material non-public information) until it becomes Public Information (the goal is preventing Insiders from taking advantage of less informed Investors in the General Public). The best source for background on this is in my opinion the SEC itself follow this link the SEC on "Insider Trading" to Learn more http://www.sec.gov/answers/insider.htm.
Since the SEC is a key part of Financial Market Regulation. If you are an Investor or a participant in Financial Markets, you must know the rules so be sure to know all you can on "Insider Trading" and commit to not becoming a part of Insider Trading to best protect your Financial Assets, Individual Freedom and your Business Reputation all of which are valuable Assets.
On a related note of Interest, since part of what we are doing in career development is pursuing the CFA designation, we can also tell you that a portion of a CFAs preparation path at level 1 is dedicated to thoroughly understanding the rules of Insider Trading so as not to arrive in a position later down the road as an Investment Analyst or Portfolio Manager where you would violate these rules. Portfolio Managers, Reserchers and Analysts and others who are CFAs place significant care on the imortance of not violating "Insider Trading" rules.
We believe that the SEC is a best source of definitions on "Insider Trading" so their link is provided here, but suffice to say that possession of Material Non-Public Information (as was indicated in the WSJ article on the Galleon / Rajaratnam case also cited above), followed by an action to Trade on that Information or Encourage others to Trade on that information would bring you into the Realm of Insider Trading. Insider Trading is about Information and the desire of our government to maintain a level playing field in Financial Markets where Financial Experts are restrained in ways that they expect will support Investor Protection by providing equal information opportunity.
While the SEC provides a key role in segments of Financial Market Regulation, there are also other relevant govenment regulators to consider in other Market Areas. For the context of our discussion here we are Focused on the SEC and their role on Insider Trading on Capital Markets, we would also like to introduce that FINRA a Self Regulating Organization (SRO) is the Financial Industries oversight body which functions to also protect Investors and diminish Insider Trading Operations by assisting in the Control of Market Data information by limiting channels for Insider Communications and otherwise protecting Investors.
Monday, May 2, 2011
Sourcing Tax Law - Directly to the Code (The US Code that is)
The Laws of the United States are called the United States Code, the Codification of the Laws form the Government we know and appreciate so much as Our Democracy. In the wake of the Debts and Deficits its a good time to be more familiar with the Laws, Accounting, Regulations and more that Form our National Government. Since we are so close to the close date of 2010 Individual Income Tax Season it makes sense to consider about how our Taxes fit in the Larger Picture of our Government as Funding and one of the moveable levers of the Deficit and Debt. One angle of this study deals with consideration of US Code Title 26 - The Internal Revenue Code.
The Internal Revenue Code is a considerable body of work as all are generally aware but immediately on arriving at the Code you find Subtitle A which covers Income Taxes at the Individual and Corporate Level, Subtitle B for Estate and Gift Taxes and Subtitle C for Employment Taxes and you are off to a pretty good start on the Tax Code in terms of reading material. We are having alot of fun researching the Tax Code, and other governmental laws and regulations at all levels so as time goes by we will share some more with you at this and other levels. Accounting, Taxation and Regulation all find some basis in Law and thankfully we were very well trained at Pace University and in other life's experiences to get right to the Law of the Matter. While we are not Attorneys, we do enoy reading Legal Docs from an Accounting Perspective when we get the chance (some more than others certainly).
Referrals: If you have need of Attorneys for Tax, Corporate Law or other needs we can help you connect to Attorneys so ask us if you need someone and we will share some names for Attorneys. Also we are very open to meeting new attorneys dealing with M&A, Private Equity, and othe Finance driven areas, Corporate Law, Government Law and other areas where their may be opportunities to work together looking forward.
The High Cost of Law School: Lately I have had a strong interest in Law School for the value the knoweldge brings in analysis of Business and Governmental Laws as well as awareness of many related issues. Law School in these times becomes cost prohibitive, but not if sponsored situations exist. As a CPA in pursuit of the CFA designation and with Financial Services expertise and natural abilities in Research - I would be a good candidate for a sponsored Legal Education. I have a big interest in helping to make things better for us where we can and the extra Legal Expertise would be a plus. You never know what can happen when you put the idea out, so here it is JIC. I believe that in this day and age you need law school in all states - but if there is still a State you can directly take the Bar in, I'd be interested to know that.
The Internal Revenue Code is a considerable body of work as all are generally aware but immediately on arriving at the Code you find Subtitle A which covers Income Taxes at the Individual and Corporate Level, Subtitle B for Estate and Gift Taxes and Subtitle C for Employment Taxes and you are off to a pretty good start on the Tax Code in terms of reading material. We are having alot of fun researching the Tax Code, and other governmental laws and regulations at all levels so as time goes by we will share some more with you at this and other levels. Accounting, Taxation and Regulation all find some basis in Law and thankfully we were very well trained at Pace University and in other life's experiences to get right to the Law of the Matter. While we are not Attorneys, we do enoy reading Legal Docs from an Accounting Perspective when we get the chance (some more than others certainly).
Referrals: If you have need of Attorneys for Tax, Corporate Law or other needs we can help you connect to Attorneys so ask us if you need someone and we will share some names for Attorneys. Also we are very open to meeting new attorneys dealing with M&A, Private Equity, and othe Finance driven areas, Corporate Law, Government Law and other areas where their may be opportunities to work together looking forward.
The High Cost of Law School: Lately I have had a strong interest in Law School for the value the knoweldge brings in analysis of Business and Governmental Laws as well as awareness of many related issues. Law School in these times becomes cost prohibitive, but not if sponsored situations exist. As a CPA in pursuit of the CFA designation and with Financial Services expertise and natural abilities in Research - I would be a good candidate for a sponsored Legal Education. I have a big interest in helping to make things better for us where we can and the extra Legal Expertise would be a plus. You never know what can happen when you put the idea out, so here it is JIC. I believe that in this day and age you need law school in all states - but if there is still a State you can directly take the Bar in, I'd be interested to know that.
You can also find us on Linkedin now.
We have established our Linkedin profile for DCarsonCPA.com now, so if you are on Linkedin, you are welcome to visit us at http://tinyurl.com/3k7r4uv on linked in. Today was a day of reflection in light of all the big national news events. We are pleased that the families who suffered so much and so unfairly on 9/11 and that those who are living with the wounds had the great opportunity to find some justice. It was ironic that the very night before we had just seen a mural of a crying American Eagle Flying by the towers in a tribute mural to the Twin towers in Queens, NY - it was a stirring vision before we had any news and now to know that All who have suffered so much have some justice is a condolence we all share. Our continued support and condolences to those who lost so much on 9/11 and to those who stand for our interests and put themselves on the line to defend the Nation every day. We don't have the right words but hope you know that we deeply appreciate all you do in the Nations interest.
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