Puttable Financial Instruments and Obligations Arising on Liquidation
Date recorded:
On 12 November the Board held two round table discussions on a revised Exposure Draft (the Staff Draft).
The staff presented a summary of the issues raised at these meetings. The staff concluded that the majority of participants supported the Staff Draft and that most of the issues can be resolved by revising the wording. The staff proposed the following ways forward:
- Incorporate in the Staff Draft the comments made by constituents
- Send a pre-ballot draft to Board members before the December meeting
- Board to discuss and vote on the pre-ballot draft at the December meeting
- Send a ballot draft to Board members after the December meeting
The Board agreed.