| FASB | Norwalk, CT, October 21, 2011ÑRegistration is now open for the upcoming joint webcast of the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) webcast, IN FOCUS: Understanding the Exposure Draft, Revenue from Contracts with Customers. [READ MORE] |
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| FASB Chairman Adds an Agenda Project on Fair Value Measurement Disclosures for Private Companies and Not-for-Profit Organizations |
Norwalk, CT, November 29, 2011—The Financial Accounting Standards Board (FASB) has added to its agenda a project to assess the feasibility of reducing or eliminating certain fair value measurement disclosure requirements for private companies and not-for-profit organizations. [READ MORE] | |
| Financial Accounting Foundation Appoints Thirteen New Members to the Financial Accounting Standards Advisory Council | Norwalk, CT, November 18, 2011—The Board of Trustees of the Financial Accounting Foundation (FAF) today announced the appointment of thirteen new members to the Financial Accounting Standards Advisory Council (FASAC) effective January 1, 2012. [READ MORE] |
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| IASB and FASB Publish Revised Proposal for Revenue Recognition | Norwalk, CT, November 14, 2011—The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) today issued for public comment a revised draft standard to improve and converge the financial reporting requirements of International Financial Reporting Standards (IFRSs) and US General Accepted Accounting Principles (GAAP) for revenue (and some related costs) from contracts with customers. [READ MORE] | |
| FASB Chairman Adds Two Agenda Projects to Improve Financial Reporting by Not-for-Profit Organizations | Norwalk, CT, November 9, 2011—Leslie F. Seidman, chairman of the Financial Accounting Standards Board (FASB), today announced the addition of two agenda projects—a standard-setting project and a research project—intended to improve financial reporting of not-for-profit organizations. [READ MORE] |
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| SEC | SEC Names Eric Pan as Associate Director in Office of International Affairs | Washington, D.C., Dec. 6, 2011 – The Securities and Exchange Commission today announced that Eric J. Pan has been named Associate Director in the SEC's Office of International Affairs, where he will oversee the development of international regulatory policy. [READ MORE] |
| SEC Staff and FINRA Issue Risk Alert on Broker-Dealer Branch Office Inspections | Washington, DC, November 30, 2011 – The Securities and Exchange Commission's Office of Compliance Inspections and Examinations (OCIE) and the Financial Industry Regulatory Authority (FINRA) today issued a Risk Alert and a Regulatory Notice on broker-dealer branch inspections, and offered suggestions to help securities industry firms better perform this key supervisory function. [READ MORE] | |
| Kristin Snyder Named Head of Examinations Program in SEC's San Francisco Regional Office | Washington, D.C., Nov. 29, 2011 – The Securities and Exchange Commission today announced the appointment of Kristin Snyder to lead the examinations program in the agency's San Francisco Regional Office. [READ MORE] |
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SEC Halts Scam Touting Access to |
Washington, D.C., Nov. 17, 2011 — The Securities and Exchange Commission today filed an emergency enforcement action to stop a fraudulent scheme targeting investors seeking coveted stock in Internet and technology companies like Facebook and Groupon in advance of a public offering. [READ MORE] |
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| SEC Hosts Nationwide Shadowing Event for High School Finance Students | SEC Hosts Nationwide Shadowing Event for High School Finance Students [READ MORE] |
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| SEC Charges UBS With Faulty Recordkeeping Related to Short Sales |
Washington, D.C., Nov. 10, 2011 – The Securities and Exchange Commission today charged UBS Securities LLC for inaccurate recording practices when providing and recording "locates" to customers seeking to execute short sales. UBS settled the enforcement action by agreeing to pay an $8 million penalty and retain an independent consultant. [READ MORE] |
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| SEC Announces Agenda and Speakers for Government-Business Forum on Small Business Capital Formation |
Washington, D.C., Nov. 9, 2011 — The Securities and Exchange Commission today approved new rules of the three major U.S. listing markets that toughen the standards that companies going public through a reverse merger must meet to become listed on those exchanges. [READ MORE] |
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| SEC Approves New Rules to Toughen Listing Standards for Reverse Merger Companies | Washington, D.C., Nov. 9, 2011 — The Securities and Exchange Commission today announced the agenda, speakers and panelists for its Government-Business Forum on Small Business Capital Formation to be held next week. [READ MORE] |
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| SEC Enforcement Division Produces Record Results in Safeguarding Investors and Markets | Washington, D.C., Nov. 9, 2011 — The Securities and Exchange Commission today announced that the agency filed a record 735 enforcement actions in the fiscal year that ended September 30. This record number includes many cases involving highly complex products, transactions, and market practices, including those related to the financial crisis as well as insider trading by market professionals. |
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| Daniel Gallagher Sworn in as SEC Commissioner | Washington, D.C., Nov. 7, 2011 – The Securities and Exchange Commission today announced that Daniel M. Gallagher has been sworn into office as an SEC Commissioner. [READ MORE] |
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| AICPA | Business Executives Foresee Better Economy in 2012 |
NEW YORK (December 6, 2011) – The outlook for the U.S. economy improved in the fourth quarter, but broad pessimism about the progress of a recovery persists, according to the fourth quarter AICPA Economic Outlook Survey, which polls chief financial officers, controllers and certified public accountants in executive and senior management accounting roles. |
| AICPA to Release Results of Quarterly Economic Outlook Survey Tuesday, December 6 | NEW YORK, N.Y. (November 30) – The American Institue of Certified Public Accountants will announce the results of its most recent quarterly survey of how senior CPA business leaders feel about the U.S. economy via press release at 7:00 a.m. Eastern Standard Time, Tues., Dec. 6 and will post on www.aicpa.org/press. [READ MORE] | |
| PCAOB | PCAOB Publishes Staff Audit Practice Alert on Assessing and Responding to Risk in the Current Economic Environment | The Public Company Accounting Oversight Board today published a Staff Audit Practice Alert to assist auditors in identifying matters related to the current economic environment that might affect the risk of material misstatement in financial statements and, therefore, require additional audit attention. [READ MORE] |
| PCAOB Approves 2012 Budget and Related Strategic Plan | The Public Company Accounting Oversight Board today approved its 2011-2015 Strategic Plan and 2012 fiscal-year budget of approximately $227.7 million.. [READ MORE] |