Aggregated News From Investment Management Regulators

UST US

Remarks by Secretary of the Treasury Janet L. Yellen on Shortages in the Child Care System

Treasury Report Shows U.S. Child Care System Overburdens, Has Inadequate Supply Thank you, Madam Vice President, for coming across the street – and, much more importantly, for your kind words about our Treasury team and your leadership on this issue. Let me also say: Nik Knight, thank you for sharing your story. Economic policymaking is a data-driven exercise, but on issues like child care, we also need to see the humanity beneath the data, and that’s what you’ve given us today. We didn’t plan this, but today is a very appropriate day for me to participate in this event. Because it turns...

U.S. Treasury Announces Social Impact Partnership to Pay for Results Act (SIPPRA) Project Grant for City and County of Denver, Colorado

WASHINGTON — The U.S. Department of the Treasury announced that it has offered the City and County of Denver, Colorado (Denver) a Social Impact Partnership to Pay for Results Act (SIPPRA) Project grant in the amount of $5,512,000 and a SIPPRA Independent Evaluator grant in the amount of $826,800 for its Housing to Health (H2H) program, a permanent supportive housing program designed to reduce homelessness and increase housing stability. Once the grants are accepted by Denver through its legislative and executive process, Denver will be the second entity awarded funding under the SIPPRA program. Denver expects to present the...

Treasury Releases Report Showing U.S. Childcare System Overburdens Families and Causes Shortages Due to Inadequate Supply

Vice President Kamala Harris and Secretary of the Treasury Janet L. Yellen to Make Case for Build Back Better Agenda This Will be Vice President Harris’s First Visit to the Department of Treasury Since Taking Office WASHINGTON — The U.S. Department of the Treasury released a new report today on the state of the child care market that highlights the causes and ramifications of insufficient supply, causing shortages in communities around the country. The release of the report will be announced today by Vice President of the United States Kamala Harris and U.S. Secretary of the Treasury Janet L. Yellen during...

Treasury Announces U.S. Support for a Proposal at the OECD to End Official Financing Support for Unabated Coal Power

WASHINGTON – Today, the U.S. Department of the Treasury announced that the United States has joined Canada, the European Union, South Korea, Norway, Switzerland, and the United Kingdom to co-sponsor a proposal at a September 15 meeting of the OECD’s Participants to the Arrangement on Officially Supported Export Credits that seeks to end official export financing support for unabated coal power.  This proposal limits official export credit support for coal power by expanding the scope of the commitments made in the Sector Understanding on Export Credits for Coal Fired Electricity Generation Projects, a 2016 OECD guideline.  For the United...

Treasury Releases Additional Emergency Rental Assistance Funds to High-Performing State and Local Government Grantees

WASHINGTON — Today, the U.S. Department of the Treasury announced it will make the remaining more than $13 billion in funding under the second wave of Emergency Rental Assistance (ERA2) available to the high-performing state and local government grantees. “Treasury is happy to provide these state and local government programs with additional resources to support Americans in need of rental assistance,” said Deputy Secretary Wally Adeyemo. “We are also committed to reallocating resources to ensure assistance reaches a struggling tenants and landlords during the pandemic.” By early February, Treasury disbursed the full $25 billion available in the first round of ERA (ERA1) to state, local, and Tribal governments, along...

Treasury Department and Federal Housing Finance Agency Suspend Certain Requirements Under Preferred Stock Purchase Agreements with Fannie Mae and Freddie Mac

WASHINGTON – The U.S. Department of the Treasury (Treasury) and the Federal Housing Finance Agency (FHFA) today agreed to suspend certain requirements that were added on January 14, 2021 to the Preferred Stock Purchase Agreements (PSPAs) between Treasury and each of Fannie Mae and Freddie Mac (the Enterprises).  FHFA will continue to measure, manage, and monitor the financial and operational risks of the Enterprises to ensure that they operate in a safe and sound manner and consistent with the public interest.  During the suspension, FHFA will review the suspended requirements and consult with Treasury on any recommended revisions.  These...

Statement by Secretary of the Treasury Janet L. Yellen on the 20th Anniversary of 9/11

9/11 was something we all experienced, although certainly not equally. No one bore the pain and hardship of September 11th more than those who lost loved ones and then those who sacrificed in the conflicts that came after. To those who bear the scars of 9/11 in those ways, I want you to know I’m thinking about you this weekend. It strikes me that we’ve come to know the event by a single date – 9/11 – but its legacy has been an inextricable part of every one of the roughly 7,000 days that have come since. It changed the...

READOUT: Financial Stability Oversight Council Meeting on September 9, 2021

Today, U.S. Secretary of the Treasury Janet L. Yellen convened a meeting of the Financial Stability Oversight Council (Council) in executive session by videoconference. At the meeting, the Secretary briefed the Council on the potential financial stability implications of a failure to increase the debt limit in a timely manner. The Council then received an update from Treasury Department staff regarding ongoing interagency efforts to develop the Council report to be issued under the Executive Order on Climate-Related Financial Risk. The Council also heard a presentation from staff of the Federal Reserve Bank of New York on commercial real estate, including market...

READOUT: Secretary of the Treasury Janet L. Yellen’s Virtual Meeting with G7 Finance Ministers

Earlier today, U.S. Secretary of the Treasury Janet L. Yellen participated in a virtual meeting with the G7 finance ministers. Following the historic agreement by the G7 in June – which was later supported by 134 countries representing more than 90% of the world’s GDP – to rewrite the international tax rules to impose a global minimum tax on corporate foreign earnings, Secretary Yellen today expressed support for ongoing efforts to improve the international tax system and the importance of swift implementation of the new system. The new international tax system would meet the needs of the 21st century...

The Case for a Robust Attack on the Tax Gap

By Natasha Sarin, Deputy Assistant Secretary for Economic Policy A well-functioning tax system requires that everyone pays the taxes they owe. Today, the “tax gap”—the difference between taxes that are owed and collected—totals around $600 billion annually and will mean approximately $7 trillion of lost tax revenue over the next decade. The sheer magnitude of lost revenue is striking: it is equal to 3 percent of GDP, or all the income taxes paid by the lowest earning 90 percent of taxpayers. The tax gap can be a major source of inequity. Today’s tax code contains two sets of rules: one for...

Why the United States Needs a 21% Minimum Tax on Corporate Foreign Earnings

By Itai Grinberg, Deputy Assistant Secretary for Multilateral Tax and Rebecca Kysar, Counselor to the Assistant Secretary for Tax Policy The President’s Made in America Tax Plan provides a framework to raise revenues in order to rebuild our infrastructure and to make critical investments in education, research, and clean energy, all of which help the United States remain the best place in the world to do business. The plan would not just generate funding to pay for a sustained increase in investments, but it would do so in a way that makes good policy sense. Importantly, it would fix a...

Statement from Secretary of the Treasury Janet L. Yellen on Labor Day

I’m hoping that this particular Labor Day is more than just holiday marking the end of summer. I’m hoping that it’s a moment of national reflection. Maybe even a moment of change. It’s clearer than ever that the process of securing dignity for America’s workers is not complete. For decades, we’ve seen wage divergence in America. For many working families the very phrase – “working family” – is less a description than a dilemma: Work or family? Right now, we have a chance to ease this dilemma for millions of Americans and to build an economy that lifts workers up rather than...

Regulator Information

Abbreviation: UST
Jurisdiction: United States

Recent Articles

Warning regarding the activities of an entity named Pinecone Tokenised Fund

The Commission de Surveillance du Secteur Financier (CSSF) warns the public of the activities of an entity named Pinecone Tokenised Fund which pretends to...

Deferred tax assets require recognition test

Insurers have to take account of deferred taxes when they prepare their Solvency II balance sheet.

Remittance Advice- B G Freight Shoppe India P Ltd. in the matter of Ram Minerals and Chemicals Ltd.

This news item was originally published by the Securities and Exchange Board of India (SEBI IN). See the article here: Read more

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