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  • SEC issues new C&DIs of rules related to social media communications

    Apr 23, 2014

    The staff in the SEC’s Division of Corporation Finance has issued new Compliance and Disclosure Interpretations (C&DIs) of rules under the Securities Act of 1933 related to communications with security holders or investors through social media outlets that limit the amount of text to be used in such communications.

  • SEC proposes security-based swap rule

    Apr 17, 2014

    The SEC has issued a proposed rule that would establish additional regulations for security-based swap dealers and major security-based swap market participants regarding recordkeeping, reporting, and notification requirements. The proposal also includes additional recordkeeping requirements for broker-dealers to account for their security-based swap activities.

  • Court finds SEC’s conflict minerals rule violates First Amendment

    Apr 15, 2014

    Yesterday, the U.S. Court of Appeals for the District of Columbia Circuit held that parts of the SEC’s rule on conflict minerals and of Section 1502 of the Dodd-Frank Act Wall Street Reform and Consumer Protection Act (the “statute”) violate the First Amendment of the U.S. Constitution to the extent that they require “regulated entities to report to the Commission and to state on their website that any of their products have ‘not been found to be “DRC conflict free.” ’ ”

  • GASB issues Concepts Statement on the measurement of assets and liabilities

    Apr 15, 2014

    Yesterday, the GASB issued Concepts Statement No. 6, “Measurement of Elements of Financial Statements.” The Statement establishes concepts the GASB would use to make decisions about future standard setting related to how state and local governments determine the dollar amount at which to report assets and liabilities.

  • FASB redefines discontinued operations

    Apr 10, 2014

    Today, the FASB issued Accounting Standards Update (ASU) No. 2014-08, "Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity." Under the ASU, only disposals that represent a strategic shift that has (or will have) a major effect on the entity’s results and operations would qualify as discontinued operations. In addition, the ASU (1) expands the disclosure requirements for disposals that meet the definition of a discontinued operation, (2) requires entities to disclose information about disposals of individually significant components, and (3) defines “discontinued operations” similarly to how it is defined under IFRS 5, "Non-current Assets Held for Sale and Discontinued Operations."

  • Highlights from the FASB’s April 4 meeting

    Apr 07, 2014

    At its April 4, 2014, meeting, the FASB discussed its projects on classification and measurement of financial instruments, investment company disclosures, and the disclosure framework.

  • SASB issues provisional standards for the technology and communications sector

    Apr 04, 2014

    The Sustainability Accounting Standards Board (SASB) has issued provisional standards for industries in the technology and communications sector. The standards are the third set in a planned series of industry-related standards by the SASB on accounting for environmental, social, and governance (ESG) issues that could be material to a corporation’s performance.

  • FASB and ASBJ hold biannual meeting

    Apr 02, 2014

    The sixteenth meeting between representatives of the FASB and the Accounting Standards Board of Japan (ASBJ) was held in Norwalk, Connecticut, earlier this week. The meeting included updates on each board's respective standard-setting activities and an exchange of views on technical topics that are of interest to both boards.

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