US: Actualités de la régulation financière

Corporate tax rate won't be lowered, expert says
Robert Willens is an independent accounting expert who heads his own firm after working as a star analyst at the former Lehman Brothers, and as a tax partner at KPMG. In this interview, Willens says officials will discuss reducing the corporate tax rate. "We'll have a great debate, but it's not going to happen," Willens said. Barron's (subscription required)(10/22)

Banks return to takeover financing
Private-equity groups and companies have for several years sought takeover financing from a range of investors. Now, banks are increasingly willing to return to the volatile world of deal financing. The Wall Street Journal (tiered subscription model)(10/24)

California AG reportedly subpoenas BofA for MBS info
California's attorney general subpoenaed Bank of America for information on mortgage-backed securities by its Countrywide Financial unit, a source said. Attorney General Kamala Harris recently withdrew from negotiations between government officials and the five biggest mortgage servicers. Bloomberg(10/21)

MSRB to provide IRS with municipal market data
The Municipal Securities Rulemaking Board plans to help the Internal Revenue Service enforce tax requirements for municipal securities by providing information about the market. "This is the first time we're providing data to a regulatory organization to help them enforce their laws," said Lynnette Hotchkiss, the MSRB's executive director. The Bond Buyer (free content)(10/24)

SEC official emphasizes importance of "ethical culture"
Carlo di Florio, director of the Compliance Inspections and Examinations unit at the Securities and Exchange Commission, said a company's "ethical culture" will be considered when the agency determines how rigorously to investigate it. Culture contributes to "attitude toward compliance and risk management," he said. Securities Technology Monitor(10/21)

Legg Mason executive to join SEC's examination program
Andrew J. Bowden, a senior executive at Legg Mason, was appointed to head the Securities and Exchange Commission's National Investment Adviser/Investment Company Examination Program. Bloomberg Businessweek(10/21)

Senate confirms several nominees to regulatory posts
The Senate confirmed several appointments to regulatory agencies, including the Commodity Futures Trading Commission and the Securities and Exchange Commission. Luis Aguilar was confirmed for another term at the SEC, while Dan Gallagher will join the agency. Mark Wetjen was confirmed as a member of the CFTC. Janice Eberly was confirmed as assistant Treasury secretary for economic policy. The Wall Street Journal (tiered subscription model)(10/21), Bloomberg Businessweek(10/21)