Bramwell's Lunch Beat: Hip-Hop Channels Suze Orman

Here are “Bramwell’s Lunch Beat” menu items for December 3.

Ernst & Young settles Lehman investor suit for $99 million
Big Four firm Ernst & Young (EY) agreed to pay investors $99 million in a settlement over its auditing of the bankrupt Lehman Brothers Holdings Inc., once the forth-largest US investment bank, Bloomberg reported. The agreement will resolve claims of investors who bought certain securities from June 12, 2007, to September 15, 2008, the date Lehman filed for bankruptcy.

SEC drops disclosure of corporate political spending from its priority list
The US Securities and Exchange Commission (SEC) has a lot of items on its list of 2014 priorities – but corporate political spending disclosures isn’t one of them. Why? The SEC declined to comment for this Washington Post article, but one advocate of the SEC crafting a political spending disclosure requirement believes the agency’s 2014 agenda is geared more toward advancing proposals mandated by Congress, not nonmandatory initiatives.

New target of financial planners: clients’ kids
In this Reuters article published by the Fiscal Times, financial advisers are using several approaches to engage their clients’ kids about financial planning. For example, advisors at Cincinnati-based Truepoint Inc. start signing young clients with custodial accounts as soon as they reach the age of maturation, which is twenty-one in most cases. The accounts are not subject to minimum fees, and pricing is worked out for each client, said CEO and Founder Michael Chasnoff.

Ten personal finance tips from hip-hop lyrics
Do rap songs contain a treasure trove of sound financial advice? Check out this entertaining Forbes blog to find out.

All this regulator wants for Christmas is an end to economic woes
Julie Dickson, Canada’s top banking and insurance regulator, is “going big” on her one Christmas wish for 2013: She wants Santa to end much of the economic and fiscal woes of Canada, the United States, and Europe, the Wall Street Journal reported.

"I don’t know how big Santa’s sleigh is," Dickson, head of the Office of the Superintendent of Financial Institutions, said during a fireside chat before an audience of Canadian financial services executives in Toronto on December 2 that was moderated by KPMG’s Neil Parkinson.

Alas, she acknowledged her wish is unlikely to happen.


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Upcoming CPE Webinars

Nov 24This webcast presents basic principles of revenue recognition, including new ASU 2014-09 for the contract method. Also, CPAs in industries who want a refresher on revenue accounting standards will benefit.
Dec 3The materials discuss the concepts and principles in the AICPA’s new special purpose framework.
Dec 9A key component to improving your firm’s workflow efficiency while enhancing your profitability at the same time is how you leverage emerging technologies.
Dec 9Kristen Rampe will cover how to diffuse the tension in challenging situations in this one-hour webinar.