Financial services (1 - 10 of 30 items)
Elder Justice: Federal Government Has Taken Some Steps but Could Do More to Combat Elder Financial Exploitation
GAO-13-626T: Published: May 16, 2013. Publicly Released: May 16, 2013.
Older adults are being financially exploited by strangers who inundate them with mail, telephone, or Internet scams; unscrupulous financial services professionals; and untrustworthy in-home caregivers. Local law enforcement authorities in the four states GAO visited indicated that investigating and prosecuting the growing number of cases involving interstate and international mass marketing fraud-...
Political Intelligence: Financial Market Value of Government Information Hinges on Materiality and Timing
GAO-13-389: Published: Apr 4, 2013. Publicly Released: Apr 4, 2013.
The Stop Trading on Congressional Knowledge (STOCK) Act of 2012 specifically defines political intelligence as information that is "derived by a person from direct communications with an executive branch employee, a Member of Congress, or an employee of Congress; and provided in exchange for financial compensation to a client who intends, and who is known to intend, to use the information to infor...
Elder Justice: Strengthening Efforts to Combat Elder Financial Exploitation
GAO-13-140T: Published: Nov 15, 2012. Publicly Released: Nov 15, 2012.
We found that state and local social services, criminal justice, and consumer protection agencies face many challenges as they work to prevent and respond to elder financial exploitation. For example:Officials in each of the four states we contacted cited the need for more safeguards to prevent exploitation by financial services providers, power of attorney agents, and paid in-home caregivers;Offi...
Department of Justice: Working Capital Fund Adheres to Some Key Operating Principles but Could Better Measure Performance and Communicate with Customers
GAO-12-289: Published: Jan 20, 2012. Publicly Released: Jan 23, 2012.
The Justice Management Division (JMD), the component responsible for managing the working capital fund, effectively tracks fund functions to ensure adherence to applicable fiscal laws and sound management practices. For example, JMD has well-established policies and procedures for tracking and monitoring the four working capital fund functions so that the fund adheres to authorized purposes. Furth...
Fair Lending: Data Limitations and the Fragmented U.S. Financial Regulatory Structure Challenge Federal Oversight and Enforcement Efforts
GAO-09-704: Published: Jul 15, 2009. Publicly Released: Jul 15, 2009.
The Fair Housing Act (FHA) and the Equal Credit Opportunity Act (ECOA)--the "fair lending laws"--prohibit discrimination in lending. Responsibility for their oversight is shared among three enforcement agencies--the Department of Housing and Urban Development (HUD), Federal Trade Commission (FTC), and Department of Justice (DOJ)--and five depository institution regulators--the Federal Deposit Insu...
Assessment of the Explanation That Immigration and Customs Enforcement Provided for Its Subsequent Transfer from the Spectrum Relocation Fund
GAO-08-846R: Published: Sep 9, 2008. Publicly Released: Sep 9, 2008.
Congress has taken a number of steps to facilitate the deployment of innovative, new commercial wireless services to consumers, including authorizing the Federal Communications Commission (FCC) to assign licenses through auctions and requiring more spectrum to be transferred from federal government use to commercial use. In addition, in 2004, Congress passed the Commercial Spectrum Enhancement Act...
Financial Regulation: Industry Trends Continue to Challenge the Federal Regulatory Structure
GAO-08-32: Published: Oct 12, 2007. Publicly Released: Oct 12, 2007.
As the financial services industry has become increasingly concentrated in a number of large, internationally active firms offering an array of products and services, the adequacy of the U.S. financial regulatory system has been questioned. GAO has identified the need to modernize the financial regulatory system as a challenge to be addressed in the 21st century. This report, mandated by the Finan...
Spot Cheese Market: Market Oversight Has Increased, but Concerns Remain about Potential Manipulation
GAO-07-707: Published: Jun 21, 2007. Publicly Released: Jul 5, 2007.
The Chicago Mercantile Exchange (CME) is home to the spot cheddar cheese market, which impacts the prices of virtually all cheese traded in the United States, producer milk prices, and milk futures contracts. The spot cheese market, formerly the National Cheese Exchange (NCE) in Wisconsin, has been and continues to be the subject of concerns about price manipulation. GAO was asked to examine (1) t...
Foreign Regimes' Assets: The United States Faces Challenges in Recovering Assets, but Has Mechanisms That Could Guide Future Efforts
GAO-04-1006: Published: Sep 14, 2004. Publicly Released: Oct 20, 2004.
For many years, the United States has used economic sanctions, including the freezing of foreign regimes' assets, when such regimes have been determined to be a threat to the nation. In light of recent efforts to "recover"--or target, identify, freeze, and transfer--Iraqi assets, GAO was asked to examine overall U.S. efforts to recover foreign regimes' assets. This report (1) describes the approac...
SEC Enforcement: More Actions Needed to Improve Oversight of Disgorgement Collections
GAO-02-771: Published: Jul 12, 2002. Publicly Released: Jul 24, 2002.
Every year investors lose money to individuals and corporations that violate federal securities laws. One mission of the Securities and Exchange Commission (SEC) is to deter such violations and return lost funds to investors. SEC's primary tool is the disgorgement order, which requires violators to give up money obtained through securities law violations. In order for disgorgement to succeed, SEC...