March 17, 2010

A Self-Funded SEC: A Good Idea

Recently, CII and others sent a letter to both the Senate Banking Committee and the Senate Appropriations Committee supporting SEC self-funding. Given that self-funding is included as Section 991 of the new Dodd bill, the support may have worked.

As I have blogged before, it’s an idea that is not new (20 years old? 30?) – and in my opinion, long overdue. I simply don’t feel the concerns expressed by academics like in this “blog” are in the realm of reality. The level of fees levied on the filing of registration statements has little impact on the decision of whether to register securities. Ask anyone in the biz…

FASB & IASB Publish Joint Exposure Draft on Conceptual Framework

Recently, the FASB and IASB issued this joint exposure draft on the reporting entity phase of their conceptual framework project (note the existing conceptual frameworks do not include a reporting entity concept). Comments are due by July 16th (learn more in this memo).

Between the aggressive schedule and volume of joint standard-setting projects flowing out of the FASB and IASB Memorandum of Understanding and the FASB’s own separate projects, interested parties will need to significantly increase their involvement in the FASB’s due-process efforts while also planning for implementing the numerous new standards that will result from these efforts. Accountants and lawyers alike will continue to be extremely busy with all the change wrought by reform…

A few weeks ago, the SEC issued this order approving the PCAOB’s changes to its inspections rules.

All the Rage: Tender Offers

We just posted the transcript for the webcast: “All the Rage: Tender Offers.”

– Broc Romanek