October 24, 2011

Senate Confirms Luis Aguilar and Dan Gallagher as SEC Commissioners

As noted in this Bloomberg article, on Friday, the Senate finally confirmed SEC Commissioner Luis Aguilar’s reappointment and Dan Gallagher’s initial appointment; both unanimously despite the six-month delay from when President Obama nominated them. Here’s Chair Schapiro’s statement.

SEC to Hold Revenue Recognition Roundtable

On Friday, the SEC announced it will hold a roundtable to consider financial statement measurements (and associated disclosures) that incorporate judgments about future events on November 8th, with comments being collected from the public until December 8th. This is the inaugural roundtable in the SEC Chief Accountant’s Financial Reporting Series. Here’s the roundtable’s briefing paper – and here’s more info about what the Financial Reporting Series is all about…

ETFs: Under the SEC Spotlight

It’s worth reading this testimony by SEC IM Director Eileen Rominger – she testified before a Senate Banking subcommittee last week – about ETFs as the SEC engages in a general review of these financial products. ETFs have been widely criticized as turning the stock markets into more of a casino than they already were…

– Broc Romanek