Updates on financial regulations and compliance requirements
![HMRC's crypto disclosure service nets £4m in two years [UK]](/placeholder-hero.svg)
HMRC's voluntary cryptoasset disclosure service has collected just £4.15m since November 2023, despite sending over 100,000 nudge letters to investors. The low yield arrives as new reporting rules took effect on 1 January 2026, requiring platforms to report user data or face £300-per-user fines.
![FDATA Adds Identity Verification Expert to Board [US]](/placeholder-card.svg)
The Financial Data and Technology Association appointed Kat Cloud, head of government relations at Sumsub, to its board. Cloud specialises in identity verification, fraud prevention, and data access compliance as financial services digitise.
Chicago's Grant Thornton and the Association of Certified Fraud Examiners published their Anti-Fraud Blueprint on 12 February 2026. The guidance builds on the 2023 COSO-ACFE Fraud Risk Management Guide and includes a maturity assessment model for CFOs working through governance, controls, and detection.
Treasury issued Notice 2026-15 on 12 February, providing safe harbours for CFOs to test whether prohibited foreign entities are torpedoing their clean energy tax credits. Comments due within 45 days. This matters if you're claiming §45X, §45Y, or §48E credits and have Chinese, Russian, Iranian, or North Korean connections anywhere in your supply chain.
A California couple claimed nearly $200,000 for donating 4,000 cycling items. The Tax Court rejected the entire deduction despite Form 8283 filing. Missing: adequate item descriptions and required appraisals for high-value property.
Italy's Guardia di Finanza raided Amazon's Milan headquarters and KPMG's offices on 12 February 2026, investigating whether Amazon maintained an undisclosed permanent establishment in Italy from 2019 to 2024. KPMG provided opinions on the matters under scrutiny but is not itself under investigation.
The AICPA has asked Treasury to scrap or simplify Notice 2025-75's 'determine and document' requirement for controlled foreign corporation dividends. The rule demands proof that dividends increased US taxable income, but doesn't clarify what analysis or substantiation actually counts. Many affected transactions already closed before the notice dropped on 4 February.
The IRS rolled out business-level features for Tax Pro Account on 9 February 2026. Firms using Centralised Authorisation File systems can now manage employee access, link CAF to EIN, and withdraw authorisations digitally. Sole proprietorships without CAF are unaffected.
![CFO seats turned over at 1 in 5.5 Fortune 500 firms in 2025 [US]](/placeholder.svg)
Internal promotions hit 65% as CFO turnover climbed 17.7% year-on-year across Fortune 500 and S&P 500 companies. If you've been eyeing the CFO chair, the odds improved. Slightly.
New measures aim to protect small businesses from the damaging effects of delayed payments from larger corporations.