OMB Amends Rules For $600B In Annual Grant Spending

Law360, Los Angeles (December 19, 2013, 6:56 PM EST) -- The White House's Office of Management and Budget on Thursday announced a series of changes to the agency's oversight guidelines for doling out the government's $600 billion in financial assistance annually, including requiring grant recipients to declare conflicts of interest.

The guidance is a consolidation of eight previous sets of rules that overlapped and sometimes conflicted with each other, the OMB said, part of the agency's effort to cut through “bureaucratic red-tape.”

“This guidance is the culmination of a two-year collaborative effort across the federal government...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.