Independence in Accounting Standard Setting

Bill proposed to create the "Investor Protection Act of 2009"

This is a public regulatory initiative  public

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  • Julie Smith David
    On October 29, 2009, at the House Financial Services...
    critical issue posted November 5, 2009 by Julie Smith David 
    purpose:

    On October 29, 2009, at the House Financial Services Committee hearing on systemic risk, banking representatives lobbied for inclusion of accounting standards in the new systemic risk regulator taking oversight of the FASB from the SEC and giving it to panel of regulators with a systemic risk and not capital markets focus.  Congressman Perlmutter also indicated his intention to offer such an amendment to the systemic risk bill this week (as background, see H.R. 1349, posted as a trigger document).   A transcript of the HFSC discussion is also posted.