Topic: US Treasury

Feds Say Asset Managers Put the Country‘s Financial System at Risk – Here’s How

“[The report] found that asset managers could transmit risks across the financial system through two primary channels: (1) exposure of creditors, counterparties, investors, or other market participants to an asset manager; and (2) disruptions to financial markets caused by fire sales.” (Stephen Quinlivan, Leonard, Street and Deinard) According to the Treasury Department’s Office of Financial Research… Read more »

FATCA Update: IRS Gives International Banks Brief Reprieve

Non-US banks struggling to comply with the US Foreign Account Tax Compliance Act (FATCA) – which requires foreign financial institutions to provide US authorities with information on accounts held by US citizens or face substantial penalties – just got an unexpected break from the Treasury Department. On July 12, 2013, the Internal Revenue Service announced… Read more »

Employers Have Six Months to Comply with Wellness Program Final Rules – Are You Ready?

“The potential payoffs [from a wellness program] include savings in health care costs, decreased absenteeism and increased productivity.” (Holland & Knight) Late last month, the Departments of Labor, Treasury, and Health and Human Services issued final regulations to help employers avoid health-based discrimination when designing and implementing wellness programs. Five key takeaways for employers: 1.… Read more »