Trade Associations
Here's a look at documents from national and international trade associations
Featured Stories
Toy Association Advocates for Key Changes to EU Glitter & Microplastics Proposed Amendment
NEW YORK, May 6 -- The Toy Association issued the following news:
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Toy Association Advocates for Key Changes to EU Glitter & Microplastics Proposed Amendment
Recent advocacy by The Toy Association(TM) has resulted in key changes to a proposed amendment to the European Union regulation on synthetic polymer microplastics (SPM), impacting toys and craft products that contain glitter.
In response to comments submitted by The Toy Association in November 2025 through the World Trade Organization's Technical Barriers to Trade (WTO-TBT) process, the European Commission has recognized industry
... Show Full Article
NEW YORK, May 6 -- The Toy Association issued the following news:
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Toy Association Advocates for Key Changes to EU Glitter & Microplastics Proposed Amendment
Recent advocacy by The Toy Association(TM) has resulted in key changes to a proposed amendment to the European Union regulation on synthetic polymer microplastics (SPM), impacting toys and craft products that contain glitter.
In response to comments submitted by The Toy Association in November 2025 through the World Trade Organization's Technical Barriers to Trade (WTO-TBT) process, the European Commission has recognized industryconcerns and has revised the part of the proposed amendment to the REACH (Registration, Evaluation, Authorisation, and Restriction of Chemicals) Regulation governing microplastics that would affect toys.
The Commission's proposed amendment included changes to the 5(c) derogation, which exempts SPM that are permanently incorporated into a solid matrix during its intended end use. However, it sought to limit this exemption only to products with an "intended end-use of a duration of one year or longer" -- language that raised significant concerns.
In its comments, The Toy Association emphasized that the proposed duration requirement was vague and undefined, and that the absence of a defined transition period meant that any change would come into effect 20 days after the final publication date. These would both create significant and unnecessary disruption across global supply chains.
As a result, the European Commission has made two key adjustments in response to the comments:
* Introduced a two-year transition period for changes to the 5(c) derogation, beginning from the date of final publication
* Requested updated guidance from the European Chemicals Agency (ECHA) to clarify what products would be impacted or exempted
While the updated guidance from ECHA will take time to be released, these changes should provide companies with additional time to adjust to the new requirements. The Toy Association will continue to monitor developments and will keep members informed as the revisions are implemented (final publication is expected in late May or early June 2026) and as updated guidance becomes available.
Members may reach out Jos Huxley, The Toy Association's senior vice president of technical affairs, with any questions.
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Original text here: https://www.toyassociation.org/PressRoom2/News/2026-News/toy-association-advocates-for-key-changes-to-eu-glitter-and-microplastics-proposed-amendment.aspx
[Category: Business]
New Home Sales Rise, Supported by Limited Existing Inventory
WASHINGTON, May 6 -- The National Association of Home Builders issued the following news release:
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New Home Sales Rise, Supported by Limited Existing Inventory
Constrained supply of existing homes and modest improvement in mortgage rates pushed new home sales higher in March.
Sales of newly built single-family homes rose 7.4% in March, to a seasonally adjusted annual rate of 682,000, according to newly released data from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. The pace of new home sales is up 3.3% from a year earlier.
"An uptick in new home sales
... Show Full Article
WASHINGTON, May 6 -- The National Association of Home Builders issued the following news release:
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New Home Sales Rise, Supported by Limited Existing Inventory
Constrained supply of existing homes and modest improvement in mortgage rates pushed new home sales higher in March.
Sales of newly built single-family homes rose 7.4% in March, to a seasonally adjusted annual rate of 682,000, according to newly released data from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. The pace of new home sales is up 3.3% from a year earlier.
"An uptick in new home salesreflects improving demand conditions, supported by a modest pullback in mortgage rates and ongoing supply constraints in the existing home market," said NAHB Chairman Bill Owens, a home builder and remodeler from Worthington, Ohio. "Builders are gradually increasing production, but elevated construction costs and labor shortages continue to limit the pace of expansion."
"Looking ahead, the rise in new home sales points to a modest strengthening in residential construction activity in the near term," said Danushka Nanayakkara-Skillington, NAHB's assistant vice president for forecasting and analysis. "However, the outlook remains sensitive to interest rate movements and affordability conditions, which will ultimately determine the sustainability of this momentum."
A new home sale occurs when a sales contract is signed, or a deposit is accepted. The home can be in any stage of construction: not yet started, under construction or completed. In addition to adjusting for seasonal effects, the March reading of 682,000 units is the number of homes that would sell if this pace continued for the next 12 months.
New single-family home inventory in March fell to 481,000 units, down 0.4% compared to the previous month, and 4.6% lower than a year earlier. This represents an 8.5 months' supply at the current building pace.
The median new home sale price was $387,400, down 6.2% from a year ago, and down 9.7% from the recent peak of $429,100 reached in Dec 2025. Completed, ready-to-occupy inventory accounted for 119,000 homes in March, up 5.3% from a year ago.
Regionally, on a year-to-date basis, new home sales are up 8.0% in the Midwest. New home sales are down 17.6% in the Northeast, 2.6% in the South and 14.0% in the West.
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Original text here: https://www.nahb.org/news-and-economics/press-releases/2026/05/new-home-sales-rise-supported-by-limited-existing-inventory
[Category: Real Estate]
Legendary General David Petraeus to Headline 2026 NACDS Total Store Expo Business Program
ARLINGTON, Virginia, May 6 -- The National Association of Chain Drug Stores posted the following news release on May 5, 2026:
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Legendary General David Petraeus to Headline 2026 NACDS Total Store Expo Business Program
Retired four-star general and former CIA Director to deliver strategic leadership insights at the industry's premier health, wellness, and consumer goods event.
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The National Association of Chain Drug Stores (NACDS) announced that General David Petraeus, US Army (Ret.), will serve as the keynote speaker for the General Business Program at the 2026 NACDS Total Store Expo.
... Show Full Article
ARLINGTON, Virginia, May 6 -- The National Association of Chain Drug Stores posted the following news release on May 5, 2026:
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Legendary General David Petraeus to Headline 2026 NACDS Total Store Expo Business Program
Retired four-star general and former CIA Director to deliver strategic leadership insights at the industry's premier health, wellness, and consumer goods event.
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The National Association of Chain Drug Stores (NACDS) announced that General David Petraeus, US Army (Ret.), will serve as the keynote speaker for the General Business Program at the 2026 NACDS Total Store Expo.General Petraeus will take the stage on Sunday, Aug. 16, 2026, during the Business Program that begins at 8 a.m., bringing to this premier industry event his powerful perspective on leadership, strategy, and turning complexity into opportunity.
This year's Business Program is designed to build on the momentum of an industry that is innovating with purpose and leading with conviction. "General Petraeus brings a caliber of leadership that has applications to industries that are charting their course for the future," said NACDS President and CEO Steven C. Anderson. "He has commanded forces in some of the most complex environments imaginable, and led our nation's intelligence community, and he now applies his strategic discipline to the global business arena. There is no better voice to speak to the clear-eyed decision-making and adaptability that members need to overcome challenges and pursue opportunities to serve Americans in communities across the country. We are proud to welcome him to the NACDS Total Store Expo."
One of the most distinguished military commanders of his generation, General Petraeus served over 37 years in the U.S. military. His career culminated in six consecutive commands as a general officer, five of which were in combat, including command of the Surge in Iraq, U.S. Central Command, and Coalition Forces in Afghanistan. He served as Director of the CIA, confirmed by the Senate by a vote of 94-0, during a period of significant achievements in the global war on terror.
Since his military career, General Petraeus has built an equally formidable presence in the private sector, applying his leadership and geopolitical expertise to the global business and policy arena. He is a Partner with the global investment firm KKR and Chairman of the KKR Global Institute, which he established in 2013. He also serves on corporate boards, is a strategic advisor to multiple firms, and is a personal venture capitalist invested in over 30 startups. A holder of a Ph.D. from Princeton University in international relations and economics, he brings a rare combination of operational and analytical rigor to the challenges facing complex industries -- including the economic, regulatory, and global forces reshaping health and wellness. He is Co-Chairman of the Woodrow Wilson Center's Global Advisory Council, a member of the Council on Foreign Relations and the Aspen Strategy Group, and the co-author, with Andrew Roberts, of the award-winning, New York Times best-selling book, Conflict: The Evolution of Warfare from 1945 to Ukraine.
The Business Program will also feature remarks from NACDS Board Chair David B. Warner, president and chief executive officer of KPH Healthcare Services, Inc., and NACDS President and CEO Steven C. Anderson. Together, the program will offer attendees a compelling perspective on navigating disruption, driving innovation, and positioning organizations for long-term success in a rapidly evolving marketplace.
Drawing on General Petraeus' unparalleled experience leading through crisis and competition, attendees can expect insights on organizational resilience, strategic decision-making, and adapting to complex, fast-moving challenges -- lessons with direct relevance for health and wellness industry executives managing supply chains, consumer expectations, technological disruption, and the evolving regulatory landscape.
The NACDS Total Store Expo is the largest gathering of retailers and suppliers in the health and wellness industry -- a premier platform for discovering innovative products, technologies, and services, and forging the partnerships that will define the next era of health and wellness retail. The 2026 event will take place in Boston August 15-17, 2026.
More information is available at tse.nacds.org.
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Original text here: https://www.nacds.org/legendary-general-david-petraeus-to-headline-2026-nacds-total-store-expo-business-program/
[Category: Business]
Ensuring Servicemembers and Families Are Heard: Work of MOAA's Currently Serving Advisory Councils
WASHINGTON, May 6 -- The Military Officers Association of America issued the following news:
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Ensuring Servicemembers and Families Are Heard: The Work of MOAA's Currently Serving Advisory Councils
By: Stephanie Rose
Members of MOAA's Currently Serving Advisory Council (CSAC) and Currently Serving Spouse Advisory Council (CSSAC) met with lawmakers recently on Capitol Hill to advocate for legislation that directly impacts servicemembers and their families - an experience one Navy spouse called "eye-opening."
"My main takeaway was this: Be the change you want to see by showing up, amplifying
... Show Full Article
WASHINGTON, May 6 -- The Military Officers Association of America issued the following news:
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Ensuring Servicemembers and Families Are Heard: The Work of MOAA's Currently Serving Advisory Councils
By: Stephanie Rose
Members of MOAA's Currently Serving Advisory Council (CSAC) and Currently Serving Spouse Advisory Council (CSSAC) met with lawmakers recently on Capitol Hill to advocate for legislation that directly impacts servicemembers and their families - an experience one Navy spouse called "eye-opening."
"My main takeaway was this: Be the change you want to see by showing up, amplifyingyour voice, and staying rooted in advocacy that makes true change," said CSSAC member Monique Ekundayo. "The mantra of 'Never Stop Serving' is not just a saying in our military community, it's true to form in our everyday lives!"
Ekundayo joined fellow spouses, currently serving members, and MOAA staff on the Hill to support three bills designed to improve the quality of life of those who serve and their families. Click the links to join their efforts by sending a message to your legislators asking them to:
Lower the military spouse unemployment rate by cosponsoring the Improve and Enhance the Work Opportunity Tax Credit (H.R. 6231 | S. 3265), which would give employers a tax credit for hiring military spouses.
"Sharing my story on the hill about being discriminated against in employment as a brand new military spouse and advocating for a solution was so empowering," Air Force spouse and CSSAC member Amanda Scott said. "It's been almost 10 years since that happened to me, and now that I'm gainfully employed in a career I love, it's so important that I try to help pass [this legislation] so that discrimination never happens to another military spouse."
Ensure activated Guard and Reserve members receive equal benefits for equal service by streamlining statutory duty statuses from 30 to four through the Duty Status Reform Act (H.R. 6976). This restructuring would reduce inconsistent interpretations of activation authorities and promote uniform access to service-earned benefits such as Basic Allowance for Housing (BAH) and credit received toward retirement.
Improve identification of health care access issues by cosponsoring the Military CARE Act (H.R. 6796), which would create a standardized digital platform for TRICARE beneficiaries to report access-to-care challenges, enabling the Defense Health Agency to pinpoint regional gaps, inform data-driven staffing and funding decisions, and connect beneficiaries with patient advocates for appointment support.
"All of the congressional offices were receptive to and supportive for the legislative issues we proposed," CSAC member Maj. Michael Gilbertson, USA, said. "It was a professional and personal honor and privilege to speak on behalf of our MOAA members across the country and the world."
Adding Your Voice
The impact MOAA's advisory councils had on Capitol Hill was clear - and yet, many of our nation's servicemembers and their families lack the access or tools to make their voices heard in Washington. This matters because lawmakers pass legislation that shapes the policies directly impacting the quality of life of our servicemembers and their families; it is imperative that congressional offices hear from the people their decisions affect.
MOAA's Legislative Action Center gives servicemembers and their families a direct line to their lawmakers, no matter where in the world they are stationed. Additionally, we are equipping members of our advisory councils with the advocacy skills they need to champion issues that will positively impact their communities.
Click to learn more about MOAA's advisory councils.
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Rose is MOAA's Director of Government Relations for Military Family and Survivor Policy.
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Original text here: https://www.moaa.org/content/publications-and-media/news-articles/2026-news-articles/advocacy/ensuring-servicemembers-and-families-are-heard-the-work-of-moaas-currently-serving-advisory-councils/
[Category: National Defense]
Canada's Equipment Manufacturing Industry Proving Resilient Amid Economic Headwinds, New Report Finds
MILWAUKEE, Wisconsin, May 6 (TNSrpt) -- The Association of Equipment Manufacturers issued the following news on May 5, 2026:
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Canada's Equipment Manufacturing Industry Proving Resilient Amid Economic Headwinds, New Report Finds
Report finds infrastructure modernization and critical minerals push driving demand in Canada's off-highway equipment sector, with overall industry output increasing by 11 per cent since 2022
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The Association of Equipment Manufacturers (AEM) today released its triennial report, "The Economic Impact of the Canadian Equipment Manufacturing Industry." The report
... Show Full Article
MILWAUKEE, Wisconsin, May 6 (TNSrpt) -- The Association of Equipment Manufacturers issued the following news on May 5, 2026:
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Canada's Equipment Manufacturing Industry Proving Resilient Amid Economic Headwinds, New Report Finds
Report finds infrastructure modernization and critical minerals push driving demand in Canada's off-highway equipment sector, with overall industry output increasing by 11 per cent since 2022
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The Association of Equipment Manufacturers (AEM) today released its triennial report, "The Economic Impact of the Canadian Equipment Manufacturing Industry." The reportfinds that the industry experienced overall growth compared to 2022, with an 11 per cent increase in sales and 3.3 per cent growth in employment. While equipment manufacturers faced economic uncertainty due to fluctuating trade relationships, limited farm equipment demand, and weak growth in housing developments, strong infrastructure investment and critical minerals projects is bolstering demand for construction and mining equipment.
Commissioned by AEM and prepared by S&P Global Market Intelligence, the report quantifies the industry's direct, indirect, and induced contributions to the Canadian economy across jobs supported, total industry output (sales activity), value added (GDP contribution), labour income, and tax revenues.
The report finds that in 2025, the Canadian off-highway equipment manufacturing industry generated $54 billion in total industry output, supported 147,000 jobs nationwide, and contributed $24 billion in total value added to the Canadian GDP, representing nearly 1 per cent of the 2025 total nominal GDP, and generated $13.7 billion in total labour income.
"As Canada continues to focus on its nation-building agenda, equipment manufacturers play a key role," said Megan Tanel, AEM's President and CEO. "Representing 7 per cent of Canada's manufacturing employment base, the number of jobs supported by the industry would fill the Montreal Bell Centre more than seven times. Despite headwinds, the industry has proven its adaptability and resilience."
The report notes that while the three-year employment total grew, annual changes in industry employment showed more volatility. The industry's direct employment grew 5.9 per cent in 2023 before experiencing a slight contraction in 2024 and 2025. Despite these fluctuations, the sector continues to provide highly skilled, lucrative career paths. Average labour income per job for those directly employed by the industry amounted to $102,000, roughly 30 per cent above the national average. Industry-supported activity also generated $1.1 billion in taxes, a 10.5 per cent increase from 2022.
"Constructing a more resilient, future-ready Canada starts with the equipment that powers its critical industries, and that is built and operated by skilled Canadian labour in communities nationwide," said Linda Hasenfratz, Executive Chair of Linamar Corporation and member of the AEM Board of Directors. "The report underscores that removing obstacles to growth, such as commercial barriers between provinces, can foster a more integrated Canadian economy with more pathways for commercial investment as the country seeks to offset the impacts of global trade volatility."
A major factor in the industry's ongoing resilience has been the protective shield of the Canada-United States-Mexico Agreement (CUSMA). Despite the negative economic impact of ongoing tariff measures, CUSMA has positioned Canada well in comparison to other United States trade partners, with Canadians construction machinery exports only falling 2.2 per cent year over year compared to Germany (28.6 per cent) and the United Kingdom (35.3 per cent). However, the main risk moving forward remains policy uncertainty, including tariff changes, rules-of-origin enforcement, and retaliatory measures that create volatility in costs and lead times.
"Canada's equipment manufacturers have proven their ability to weather storms, but resilience alone is not a growth strategy," said Kip Eideberg, AEM's Senior Vice President of Government and Industry Relations. "To ensure long-term economic security, Canada must double down on championing the mutual benefits of free trade with current and prospective partners while also investing in the large-scale infrastructure projects that support manufacturing competitiveness. When we champion pro-manufacturing policies, we ensure the people who build, power, and feed Canada can continue to thrive."
Key national findings
* $54 billion in total industry output (sales activity) generated by the industry.
* 147,000 total jobs supported in Canada (direct, indirect, and induced), representing 0.5 per cent of Canada's total employment base.
* 70,900 direct jobs in the industry in 2025.
* $24 billion contributed to Canada's GDP (total value added), representing nearly 1 per cent of total nominal GDP.
* $13.7 billion in total labour income supported.
* $102,00 average annual labour income per direct job, 30 per cent above the national average.
* $1.1 billion in tax revenues generated, an increase of 10.5 per cent from 2022.
Provincial impact: The report highlights the evolving regional footprint of the industry across the country, noting a divergence in fortunes among the provinces that account for the largest shares of direct employment.
* Ontario: Continues to represent the largest share industry operations and jobs, supporting 27,785 direct jobs (nearly 39 per cent of the national total) and 59,521 total jobs.
* Quebec: Remains the second largest employer of industry jobs in Canada, supporting 13,625 direct jobs (19 per cent of the national total) and 29,193 total jobs.
* Alberta: Outpaced national growth trends, with the province supporting 11,395 direct jobs (16 per cent of the national total) and 22,024 total jobs.
AEM's report is based off an S&P Global Market Intelligence analysis titled, "Market Size and Economic Contributions of the Canadian Off-Highway Equipment Industry." Access to the full report and its corresponding underlying data is available upon request.
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ABOUT THE REPORT
AEM commissioned S&P Global Market Intelligence, a global data, analytics and software provider, to complete a report that estimates the contributions of the agriculture, construction, and mining equipment manufacturing to the Canadian economy. The report relies upon a well-established approach grounded upon government data and augmented by AEM member data and Market Intelligence's proprietary industry analysis. The economic contribution of the industry is measured in terms of employment, output, value added (i.e. contribution of the GDP), labour income, and tax revenue. For each measure, the direct, indirect, and induced contributions of the industry are calculated using a combination of data from Market Intelligence and Statistics Canada.
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About the Association of Equipment Manufacturers (AEM)
The Association of Equipment Manufacturers (AEM) is the North American-based international trade group representing off-road equipment manufacturers and suppliers, with 1,100 companies and more than 200 product lines in the agriculture and construction-related industry sectors worldwide. The equipment manufacturing industry in Canada supports 147,000 jobs, contributes $24 billion to the Canadian economy, and generates $54 billion in total sales and output each year.
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REPORT: https://www.aem.org/getmedia/ba08c7a7-e292-4db6-bc48-e4a339621731/2026-AEM-Canadian-Economic-Impact-Report.pdf
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Original text here: https://newsroom.aem.org/canadas-equipment-manufacturing-industry-proving-resilient-amid-economic-headwinds-new-report-finds/#
[Category: Business]
CCA Commends Introduction of the Accelerating Broadband Permits Act of 2026
WASHINGTON, May 6 -- The Competitive Carriers Association issued the following statement on May 5, 2026:
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CCA Commends Introduction of the Accelerating Broadband Permits Act of 2026
Competitive Carriers Association President and CEO Tim Donovan made the following statement regarding the introduction of S. 4448, the Accelerating Broadband Permits Act of 2026:
"CCA commends Senators John Thune (R-SD), Ben Ray Lujan (D-NM) and John Barrasso (R-WY) for introducing the 'Accelerating Broadband Permits Act of 2026,' which will help expedite Broadband Equity, Access, and Deployment (BEAD) Program
... Show Full Article
WASHINGTON, May 6 -- The Competitive Carriers Association issued the following statement on May 5, 2026:
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CCA Commends Introduction of the Accelerating Broadband Permits Act of 2026
Competitive Carriers Association President and CEO Tim Donovan made the following statement regarding the introduction of S. 4448, the Accelerating Broadband Permits Act of 2026:
"CCA commends Senators John Thune (R-SD), Ben Ray Lujan (D-NM) and John Barrasso (R-WY) for introducing the 'Accelerating Broadband Permits Act of 2026,' which will help expedite Broadband Equity, Access, and Deployment (BEAD) Programprojects requiring federal permits.
As BEAD projects advance, it is critical for NTIA to strengthen oversight and accountability in the federal permitting process. Reducing delays and streamlining federal siting and permitting will maximize the program's impact and help close the digital divide."
For more information about CCA and its policy priorities, please visit ccamobile.org.
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About Competitive Carriers Association
Competitive Carriers Association (CCA) is the leading association for competitive communications service providers and stakeholders across the United States. Members range from small, rural carriers serving fewer than 5,000 customers to regional and nationwide providers serving millions, as well as vendors and suppliers delivering products and services throughout the communications ecosystem.
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Original text here: https://www.ccamobile.org/cca-commends-introduction-of-the-accelerating-broadband-permits-act-of-2026
[Category: Telecommunications]
AICPA Urges OCC to Leverage Established Stablecoin Reporting and Controls Criteria in GENIUS Act Rulemaking
NEW YORK, May 6 -- The American Institute of CPAs issued the following news release:
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AICPA Urges OCC to Leverage Established Stablecoin Reporting and Controls Criteria in GENIUS Act Rulemaking
The American Institute of CPAs (AICPA) has submitted a comment letter (https://www.aicpa-cima.com/resources/download/office-of-the-comptroller-of-the-currency-genius-act) to the Office of the Comptroller of the Currency (OCC) encouraging regulators to leverage the AICPA's recently published 2025 Criteria for Stablecoin Reporting in its rulemaking to strengthen transparency, accountability, and trust
... Show Full Article
NEW YORK, May 6 -- The American Institute of CPAs issued the following news release:
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AICPA Urges OCC to Leverage Established Stablecoin Reporting and Controls Criteria in GENIUS Act Rulemaking
The American Institute of CPAs (AICPA) has submitted a comment letter (https://www.aicpa-cima.com/resources/download/office-of-the-comptroller-of-the-currency-genius-act) to the Office of the Comptroller of the Currency (OCC) encouraging regulators to leverage the AICPA's recently published 2025 Criteria for Stablecoin Reporting in its rulemaking to strengthen transparency, accountability, and trustin the U.S. payment stablecoin market. The letter is in response to the OCC's Advance Notice of Proposed Rulemaking under the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act).
"Trust and transparency are foundational to the success of payment stablecoins," said Sue Coffey, CPA, CGMA, the AICPA's CEO of Public Accounting. "The AICPA's stablecoin criteria were developed through a rigorous, public process led by the accounting profession, and are already being used. The criteria will continue to serve as the basis for issuers reporting as well as by independent CPAs in examination engagements. We believe these criteria offer the OCC a proven framework for implementing the GENIUS Act."
To address growing demand for clarity and consistency in stablecoin reporting, the AICPA released the 2025 Criteria for Stablecoin Reporting in two parts:
* Presentation and Disclosure Criteria (Part I)
establish consistent reporting on stablecoins outstanding and the assets backing them, including disclosures on token population, reserve composition, redemption terms, custody arrangements, and risks affecting redeemability.
* Controls Criteria (Part II)
address controls over stablecoin operations, including token lifecycle processes, reserve asset management, vendor oversight, and information technology.
Together, these two parts provide a comprehensive, decision useful framework that already aligns with and enhances the reporting, examination, and operational safeguards put forth by the GENIUS Act and the OCC's proposal.
These criteria meet the definition of "suitable criteria" for the examination engagements required under the GENIUS Act and are specifically designed for use by an independent CPA performing attestation engagements at a reasonable assurance level.
Stablecoin issuers are already preparing monthly reserve reports in accordance with the AICPA criteria, demonstrating their practicality and market acceptance.
The AICPA supports the GENIUS Act's emphasis on independent assurance and encouraged the OCC to explicitly recognize:
* Monthly examinations over reserves performed in accordance with AICPA Attestation Standards (SSAEs);
* Annual independent examinations of controls supporting stablecoin operations, using the AICPA Stablecoin Controls Criteria; and
* The critical role of independent CPAs in good standing, subject to professional ethics, peer review, and state licensure oversight.
The AICPA cautions that limiting these engagements exclusively to Public Company Accounting Oversight Board (PCAOB) registered firms could reduce CPA availability, increase costs, and create bottlenecks for issuers -- without improving quality -- particularly where PCAOB inspection does not apply.
"Independent, third party assurance by CPAs has long been relied upon across regulated industries," Coffey said. "The same professional standards, independence requirements, and peer review processes that safeguard public trust today are well suited to supporting confidence in stablecoin reserves and operations."
The AICPA also encourages the OCC to leverage existing stablecoin reporting criteria to minimize duplication and unintended complexity in final rules. The Stablecoin Presentation and Disclosure Criteria introduce additional transparency, such as clearer token reconciliation, reserve asset detail, and disclosure of events affecting redemption, without imposing unnecessary operational burden.
The letter further notes that strong, independent external examination of internal controls provides more meaningful assurance to stakeholders than additional unaudited point in time reserve snapshots alone.
"CPAs bring more than a century of experience delivering trust and confidence in financial information," Coffey said. "The AICPA stands ready to serve as a trusted resource to regulators as the stablecoin market evolves."
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About the American Institute of CPAs
The American Institute of CPAs (AICPA) is the world's largest member association representing the CPA profession, with 397,000 members and a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education, and consulting. A founding member of the Association of International Certified Professional Accountants, the AICPA sets ethical standards for the profession, attestation standards, and U.S. auditing standards for private companies, not-for-profit organizations, and federal, state, and local governments. It develops and grades the Uniform CPA Examination, offers specialized credentials, partners across the profession to build future talent, and drives continuing education to advance the vitality, relevance, and quality of the profession.
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Original text here: https://www.aicpa-cima.com/news/article/aicpa-urges-occ-to-leverage-established-stablecoin-reporting-and-controls-criteria-in-genius-act-rulemaking
[Category: Accounting]
