Energy companies eye compliance monitoring; panel advises close ties with business

Energy companies eye compliance monitoring; panel advises close ties with businessPosted by Paul Campbell, Principal, Deloitte & Touche LLP and Ron Chovanec, Specialist Leader

Trade surveillance is a rising concern in the energy industry, and regulators have an increasing expectation that companies in the industry will have trade monitoring solutions in place. At Deloitte’s Dodd-Frank Compliance Leadership Academy on October 2, 2014 we joined a group of industry representatives in a panel discussing where trends are headed.

Establishing a trade monitoring and surveillance program isn’t just to avoid regulatory scrutiny. Internally, it can also make the gathering, review, and presentation of trade data a lot easier. But there are challenges involved. When you gather more data, regulators may ask for more data. Compliance teams will need to partner with people on the operational side to review what they learn. Management buy-in, budget, and other resources can stand between the blueprint and the reality. And while a monitoring system may be simple in concept, applying it across multiple divisions can be less simple, especially in a global organization.

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Medicare Claims at Risk

Medicare Claims at RiskPosted by Kelly Sauders, Partner, Deloitte & Touche LLP

The Centers for Medicare and Medicaid Services (CMS) have now started to implement their long-anticipated Risk Adjustment Data Validation (RADV) audits. These audits could pose a serious financial risk for health plans, since CMS will be extrapolating the audit findings from a small sample of 201 plan members and then using the results to statistically value and recoup overpayments across the plan’s entire member base. The initial audits will cover the 2011 payment year with diagnosis codes submitted with 2010 dates of service.

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Risks and Challenges of Expanded Retail Pharmacy Offerings

Risks and Challenges of Expanded Retail Pharmacy OfferingsPosted by Kelly Sauders, Partner, Deloitte & Touche LLP

Many retailers are considering expanding their pharmacy offerings to tap into bigger margins and new revenue sources. Attractive opportunities range from high-priced specialty drugs to a variety of health and wellness services. However, as retailers broaden the scope of their pharmacy operations, they are likely to encounter a number of significant regulatory issues and risks. Including:

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The Securities and Exchange Commission Reforms Money Market Rules

The Securities and Exchange Commission Reforms Money Market Rules

On July 23, 2014, the Securities and Exchange Commission (SEC) adopted amendments to the rules that govern money market mutual funds. The amendments strive to preserve the key benefits of money market funds while reducing the risks associated with investor runs. However, for mutual funds – and their business partners – the revised rules will likely require significant reforms to their structures and operations.

Key provisions that will challenge the current operating model include: a floating net asset value (NAV) decimalized to a basis point; the definition of ‘Retail Funds” as those with procedures to limit investors to “natural persons; and the introduction of gates and liquidity fees.

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