FAS 166, 167 Putting Kibosh on Q's Expected This Week; SEC Forms Investor Advisory Committee

Jun 8th 2009
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FASB is expected to release its amendments to FAS 140 and FIN 46R this week -in the form of new standards numbered FAS 166 and FAS 167 - which, among other things, will remove the prior exception for off-balance sheet treatment for Qualifying Special Purpose Entities (aka QSPEs or Q's), according to a report published by BNA's Steven Marcy last week entitled, FASB Planning To Issue New Guidance Soon on Off-Balance Sheet Activities. We reported recently FASB Affirms Securitization Changes Effective 2010. For up-to-the-minute news on FASB's latest standards and upcoming standards, tune into FEI's webcast Tues. June 9 from 12 noon - 1:30 pm EDT: "What's New With FASB?" Advance registration is required; 1.5 CPE; free for FEI members, $50 for nonmembers.

SEC Forms Investor Advisory Committee
BNA's Marcy also reported on SEC Commissioner Luis Aguilar's remarks at the Compliance Week conference last week, in two separate articles: SEC's Aguilar Sees Slowdown On Decision Whether to Require Use of IFRS in U.S., and SEC's Aguilar Says Reform Debate Too Focused on Entities, Not Investors. Concurrently, the SEC announced last week formation of an Investor Advisory Committee. Read more here.

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