On July 26, the Securities and Exchange Commission (SEC) voted to adopt new requirements for how public companies manage and report cybersecurity incidents and strategy. These rules are narrow and technical in scope, pertaining solely to public companies. Below are a few key takeaways from the ruling. Takeaways: Companies must
New modifier JZ requirements will show Medicare if providers are using pharmaceuticals efficiently by identifying the amount of unused and discarded drugs from single-dose containers or single-use packages. One way to remember the correct use of these drugs is waste vs zero-waste. Modifier JW is used to report wasted drugs
In the current environment of increasing interest rates, margin pressure, inflation, potential recession, and high-profile bank failures, earnings are potentially squeezed from every direction. Faced with this uncertainty, tax planning might feel more daunting than it does in strong economic times; however, careful monitoring, and the ability to quickly adapt
On a quarterly basis, and roughly one month after Call Reports are due to be filed, the Federal Deposit Insurance Corporation (FDIC) publishes a Quarterly Banking Profile  summarizing financial highlights of FDIC-insured institutions. Since the highlights from the first quarter of 2023 were recently released, let’s take a look at
What is GLBA? The Gramm-Leach-Bliley Act (GLBA) is one of the most mature regulations in financial services. Originating in 1999, with multiple updates over the last two decades, it set the foundation for data protection obligations. GLBA established oversight of the regulation by the financial services regulators for banking entities
In July 2022 Governor Mills announced the creation of the Thrive Maine Loan Program to be administered by the Finance Authority of Maine (FAME). The program was established to provide $58 million in forgivable loans to eligible Maine businesses and non-profit organizations through two application rounds.
Last week, the U.S. Supreme Court delivered a reprieve from a long-standing interpretation by the Treasury Department that has led in the past to some exorbitant penalties for U.S. persons holding foreign bank and other financial accounts. The result of the court’s ruling? Penalties for inadvertently failing to report foreign