The Consumer Financial Protection Bureau (CFPB) recently announced the development and implementation of a supervision program focused directly on service providers – the National Information System Supervision Program (NISSP), which is a comprehensive examination program new to service providers in the financial services industry.

In March of this year HM Revenue & Customs (“HMRC”) published a consultation document in respect of non-resident companies who are chargeable to UK income tax and/or non-resident capital gains tax (“NRCGT”), particularly aimed at those owning UK property.

On July 27th, many industry groups experienced the thrill of victory while others, the agony of defeat, when the White House and top Republican lawmakers issued a joint statement announcing that the Border Adjustment Tax (affectionately referred to as the “BAT”) would no longer be included in future Republican-based proposals on tax reform.

The FASB is expected to soon publish an update to one of the most complex parts of U.S. GAAP - hedge accounting.

The UK Treasury and HMRC have published a detailed consultation on the legislation which will be introduced next year to restrict interest deductions for UK groups following Action 4 of the OECD BEPS initiative. This Update provides a high level summary of the proposals and identifies some of the key issues to be considered.

In the following WealthManagement.com Midyear Outlook article, Craig Walling discusses the impact of the digital age on the Wealth Management industry, and what it means for investors and advisors alike.

Alvarez & Marsal (A&M) has expanded its Corporate Performance Improvement group and bolstered its operational and supply chain expertise with the addition of seasoned professionals. Brian Rayburn and Mark Uffhausen join as Managing Directors in the Houston office, and Jose Contreras joins as a Managing Director in the Dallas office.

Tax departments of U.S.-based multinationals have a lot to think about right now. Not only is the global tax landscape in a state of flux, but the prospect of U.S. reform at the magnitude of the 1986 Tax Reform Act is very real.

Several Alvarez & Marsal Disputes and Investigations professionals have been recognized in the 2017 edition of Who’s Who Legal’s Consulting Experts guide.

The IRS recently re-released proposed regulations (REG-136118-15) implementing the centralized partnership audit regime enacted by the Bipartisan Budget Act of 2015, P.L. 114-74.

Leading global professional services firm Alvarez & Marsal (A&M) today released its third UAE Banking Pulse, which finds that while overall profitability has decreased slightly due to lower non-interest income and leverage, net interest margins have increased.

In the mid 2000s, an American energy renaissance began. As a result, an industrial renaissance also dawned in the U.S. Both are being driven by new fossil fuel technologies that make cheap energy possible.

The recent decision in Grecian Magnesiterevives a longstanding debate within the tax community over whether a partnership should be treated as an aggregate or an entity for tax purposes.

On June 8, 2017, the U.S. House of Representatives passed the Financial CHOICE Act (the “Act”), which if enacted as passed, would bring sweeping changes to our regulatory landscape, essentially gutting the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”).

The past few weeks have brought a couple of significant course corrections in the field of U.S. tax law: one on the regulatory front, dealing with debt versus equity determinations, and a second on the legislative front, dealing with possible tax reform.