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Open Recommendations

Securities and Exchange Commission: Additional Guidance Needed for Assessing Staff Procedures

GAO-23-105465
Nov 18, 2022
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3 Open Recommendations
Agency Affected Recommendation Status
United States Securities and Exchange Commission The Director of the Division of Enforcement should ensure that the division's memorandum regarding certification under section 961 of the Dodd-Frank Act include a summary of the work performed for and results of the assessment of the effectiveness of staff procedures. (Recommendation 1)
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When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.
United States Securities and Exchange Commission The 961 Working Group should revise its Reference Guide for Compliance with Section 961 of the Dodd-Frank Act to include guidance on using program data to help assess the effectiveness of staff procedures. (Recommendation 2)
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When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.
United States Securities and Exchange Commission The 961 Working Group should revise its Reference Guide for Compliance with Section 961 of the Dodd-Frank Act to require the relevant divisions and office to include in their written plans for assessing the effectiveness of staff procedures a requirement that they review their program manuals on a periodic and comprehensive basis. (Recommendation 3)
Open
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.

Export-Import Bank: Additional Documentation about Stakeholder Roles and Clarity about Fraud Risks Would Strengthen Antifraud Efforts

GAO-22-105340
Sep 27, 2022
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2 Open Recommendations
Agency Affected Recommendation Status
Export-Import Bank of the United States EXIM's Chair and President should update its antifraud strategy to demonstrate links to its highest internal and external residual fraud risks outlined in its fraud risk profile to its antifraud strategy. (Recommendation 1)
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When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.
Export-Import Bank of the United States EXIM's Chair and President should update its antifraud strategy to document the roles and responsibilities of the external parties, specifically delegated authority lending (DAL) and Export Credit Insurance (ECI) partners, responsible for fraud controls. (Recommendation 2)
Open
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.

Bank Supervision: Lessons Learned from Remote Supervision during Pandemic Could Inform Future Disruptions

GAO-22-104659
Sep 08, 2022
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2 Open Recommendations
Agency Affected Recommendation Status
Federal Reserve System The Federal Reserve's Chief Operating Officer should develop and document specific action steps and time frames for completing the components of the Federal Reserve's enterprise risk management framework related to identifying and assessing risks to its supervisory mission, such as those caused by the COVID-19 pandemic. (Recommendation 1)
Open
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.
Office of the Comptroller of the Currency OCC's Senior Deputy Comptrollers of Large Bank Supervision and Mid-Size and Community Bank Supervision should review potential lessons learned related to how OCC managed adjustments to supervisory activities during the COVID-19 pandemic. This review should include collection and analysis of information to identify aspects of fully remote examinations that worked well and areas for improvement. (Recommendation 2)
Open
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.

Bank Secrecy Act: Action Needed to Improve DOJ Statistics on Use of Reports on Suspicious Financial Transactions

GAO-22-105242
Aug 25, 2022
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2 Open Recommendations
Agency Affected Recommendation Status
Department of Justice DOJ's Chief Information Officer, Chief Evaluation Officer and Chief Statistical Official should incorporate data on the use of BSA reports into their ongoing efforts to improve DOJ's data collection and infrastructure to determine if there are ways DOJ component agencies that use BSA reports could more consistently collect data described in NDAA section 6201. (Recommendation 1)
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When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.
Department of Justice The Chief of MLARS should collaborate with DOJ's Chief Information Officer and Statistical Official in producing future section 6201 reports, and use their expertise to help ensure a rigorous methodology for report design and analyses. (Recommendation 2)
Open
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.
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