Bachus, McCarthy SRO Bill Would Protect Consumers, Provide Appropriate Oversight of Investment Advisers

U.S. House Financial Services Committee Chairman Spencer Bachus (R-AL) and Rep. Carolyn McCarthy (D-NY), a member of the Committee, introduced bipartisan legislation calling for a self-regulatory organization to fill gaps in Securities and Exchange Commission (SEC) oversight of investment advisers. Read more

Ways & Means Committee Examines Tax Rules for Retirement Savings, FSAs

On April 17—the due date for individual tax filings this year—the House Ways & Means Committee held a hearing to examine one of the largest “tax breaks” in the current Code: retirement savings plans. Read more

Implementation of the Health Law Continues as Supreme Court Considers Constitutionality – Action Needed

As the Supreme Court considers the constitutionality of the new health law, implementation and efforts to improve it continue. Read more

NARAB II Introduced in the Senate

Sens. Jon Tester (D-Mont.) and Mike Johanns (R-Neb.) have introduced the National Association of Registered Agents & Brokers Act (NARAB II), which would establish a federal licensing clearinghouse for insurance agents who operate in multiple states. Read more

House Subcommittee Holds Hearing on SEC Oversight

On April 25, the U.S. House Financial Services Subcommittee on Capital Markets and Government Sponsored Enterprises (Chairman Scott Garrett, R-NJ) held a hearing to discuss current oversight of the Securities and Exchange Commission (SEC). Read more

IRS Announces 2013 Amounts for HSAs

On April 27, the Internal Revenue Service released the 2013 inflation-adjusted amounts for health savings accounts. Read more

Senate Proposes to Raise Taxes on Professional Service S Corporations

In order to offset a bill to prevent student loan interest rates from rising, Senate Majority Leader Harry Reid (D-NV) included a proposed tax hike on certain S Corporations. Read more

Health Guidance Released

Internal Revenue Service Notice 2012-31 describes and requests comments on several possible approaches to determining whether health coverage under an eligible employer-sponsored plan provides minimum value. Read more

Panel Approves Measure to Expand Crop Insurance

On April 26, the Senate Agriculture Committee approved a five-year farm bill that eliminates direct payment programs and moves the farm safety net toward crop insurance and revenue guarantees. Read more

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