Securities Fraud Liability of Secondary Actors (open access)

Securities Fraud Liability of Secondary Actors

A letter report issued by the Government Accountability Office with an abstract that begins "This report responds to the mandate in section 929Z of the Dodd-Frank Wall Street Reform and Consumer Protection Act directing GAO to study the impact of authorizing a private legal right of action against any person who aids or abets another in violation of the securities laws. The report includes a description of the legal and factual background of such "secondary actor" liability, as well as a summary of recent proposals to create this private right of action, arguments in favor of and against such proposals, and steps that have been identified to mitigate potential concerns with creating such liability."
Date: July 21, 2011
Creator: United States. Government Accountability Office.
System: The UNT Digital Library
Federal Reserve System: Opportunities Exist to Strengthen Policies and Processes for Managing Emergency Assistance (open access)

Federal Reserve System: Opportunities Exist to Strengthen Policies and Processes for Managing Emergency Assistance

A letter report issued by the Government Accountability Office with an abstract that begins "The Dodd-Frank Wall Street Reform and Consumer Protection Act directed GAO to conduct a one-time audit of the emergency loan programs and other assistance authorized by the Board of Governors of the Federal Reserve System (Federal Reserve Board) during the recent financial crisis. This report examines the emergency actions taken by the Federal Reserve Board from December 1, 2007, through July 21, 2010. For each of these actions, where relevant, GAO's objectives included a review of (1) the basis and purpose for its authorization, as well as accounting and financial reporting internal controls; (2) the use, selection, and payment of vendors; (3) management of conflicts of interest; (4) policies in place to secure loan repayment; and (5) the treatment of program participants. To meet these objectives, GAO reviewed program documentation, analyzed program data, and interviewed officials from the Federal Reserve Board and Reserve Banks (Federal Reserve System)."
Date: July 21, 2011
Creator: United States. Government Accountability Office.
System: The UNT Digital Library
Information Sharing Environment: Better Road Map Needed to Guide Implementation and Investments (open access)

Information Sharing Environment: Better Road Map Needed to Guide Implementation and Investments

A letter report issued by the Government Accountability Office with an abstract that begins "Recent planned and attempted acts of terrorism on U.S. soil underscore the importance of the government's continued need to ensure that terrorism-related information is shared in an effective and timely manner. The Intelligence Reform and Terrorism Prevention Act of 2004, as amended, mandated the creation of the Information Sharing Environment (ISE), which is described as an approach for sharing terrorism-related information that may include any method determined necessary and appropriate. GAO was asked to assess to what extent the Program Manager for the ISE and agencies have (1) made progress in developing and implementing the ISE and (2) defined an enterprise architecture (EA) to support ISE implementation efforts. In general, an EA provides a modernization blueprint to guide an entity's transition to its future operational and technological environment. To do this work, GAO (1) reviewed key statutes, policies, and guidance; ISE annual reports; and EA and other best practices and (2) interviewed relevant agency officials."
Date: July 21, 2011
Creator: United States. Government Accountability Office.
System: The UNT Digital Library