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Watchdog Report

All articles tagged with #watchdog report

financeethics2 years ago•2 min saved

"Watchdog Report Criticizes Ex-Fed Officials in Stock Trading Controversy"

A watchdog report from the Federal Reserve's Office of Inspector General criticizes former high-ranking officials Robert Kaplan and Eric Rosengren for engaging in stock trading that created conflicts of interest and raised questions about their impartiality. While the report did not find evidence of illegal activity, it faulted Rosengren for not disclosing multiple trades and noted discrepancies in his trading data, while faulting Kaplan for lack of specific disclosure. The controversy has led to the Fed revamping its trading rules to prohibit officials from owning stocks, bonds, and cryptocurrencies in order to maintain public confidence in the integrity of the Committee's work.

via CNBC|

#conflict-of-interest #ethics #federal-reserve

international-relations2 years ago•2 min saved

"Pentagon's Poor Tracking of $1 Billion Ukraine Aid Sparks Outrage"

A watchdog report revealed that the Pentagon did not adequately track over $1 billion worth of military equipment sent to Ukraine, with much of the equipment designated for enhanced end-use monitoring remaining delinquent and unaccounted for. The report comes as Congress debates a new aid package for Ukraine, with significant Republican opposition. While improvements have been made to the inventory process, significant personnel limitations and accountability challenges remain, hindering the Pentagon's ability to fully comply with monitoring requirements. Despite assertions of no evidence of illicit transfer, the report did not determine the fate of the untracked weapons, and ongoing investigations into potential criminal conduct related to U.S. security assistance to Ukraine are underway.

via CNN|

#international-relations #military-aid #pentagon

government2 years ago•2 min saved

IRS Loses Millions of Sensitive Tax Records, Watchdog Reveals

The IRS has lost track of millions of sensitive individual and business tax records, according to a watchdog report. The report highlights significant deficiencies in safeguarding and accounting for these records, which contain sensitive taxpayer information. The IRS is unable to locate thousands of records stored in Utah and failed to transfer tax records from a closed facility in California. The report warns that the lost records could be used for tax refund fraud and identity theft. The IRS has been criticized in the past for mishandling taxpayer information, and the watchdog urges the agency to better restrict access to tax records and conduct required annual inventories of microfilm cartridges.

via POLITICO|

#government #irs #microfilm-cartridges