The Board made tentative decisions about the project’s scope, as well as about presentation, disclosure, and transition.

The FASB di­rected its staff to begin draft­ing a proposed ASU for a vote by written ballot.

For more in­for­ma­tion, see the tentative Board decisions on the FASB’s Web site.

Mr. Zabreyko joins the EITF from Connor Group, where he currently serves as partner and strategic markets leader.

Mr. Zabreyko’s term is effective immediately.

For more in­for­ma­tion, see the press release on the FASB’s Web site.

The publication an­a­lyzes “how public company audit com­mit­tees approach the public communication of their external auditor over­sight ac­tiv­i­ties.” In ad­di­tion, the report provides statistics on disclosure trends, including those related to cybersecurity, as well as examples of effective disclosures provided by S&P 1500 companies in filings between July 1, 2018, and June 30, 2019.

For more in­for­ma­tion, see the press release and report on the CAQ’s Web site.

The pro­posal would:

• “[U]pdate the criteria, including the ownership requirements, that a shareholder must satisfy to be eligible to have a shareholder proposal included in a company’s proxy statement.”
• “[U]pdate the ‘one proposal’ rule to clarify that a single person may not submit multiple proposals at the same shareholder’s meeting, whether the person submits a proposal as a shareholder or as a representative of a shareholder.”
• “[M]odernize the levels of shareholder support a proposal must receive to be eligible for resubmission at the same company’s future shareholder meetings.”

Com­ments on the pro­posed rule are due 60 days after the date of its pub­li­ca­tion in the Federal Reg­is­ter. For more in­for­ma­tion, see the following on the SEC’s Web site:

• Press release.
• Pro­posed rule.
• Public statements by SEC Chairman Jay Clayton and Commissioners Allison Herren Lee, Elad L. Roisman, and Hester M. Peirce.

The pro­posal would “enhance the quality of the disclosure about material conflicts of interest that proxy voting advice businesses provide their clients [and] provide an opportunity for a period of review and feedback through which companies and other soliciting parties would be able to identify errors in the proxy voting advice.”

Com­ments on the pro­posed rule are due 60 days after the date of its pub­li­ca­tion in the Federal Reg­is­ter. For more in­for­ma­tion, see the following on the SEC’s Web site:

• Press release.
• Pro­posed rule.
• Public statements by SEC Chairman Jay Clayton and Commissioners Allison Herren Lee, Elad L. Roisman, Hester M. Peirce, and Robert J. Jackson Jr.

The staff notes that before this expiration date, the SEC staff would “not recommend enforcement action to the Commission under the Investment Advisers Act of 1940 against broker-dealers receiving payments in hard dollars or through research payments from clients subject to MiFID II.”

For more information, see the press release on the SEC’s Web site.

The pro­posal would amend rules under the Investment Advisers Act of 1940 that “prohibit certain investment adviser advertisements and payments to solicitors.” The proposed amendments would “reflect changes in technology, the expectations of investors seeking advisory services, and the evolution of industry practices.”

Com­ments on the pro­posed rule are due 60 days after the date of its pub­li­ca­tion in the Federal Reg­is­ter. For more in­for­ma­tion, see the press release on the SEC’s Web site.

The Board made decisions related to the following terms in the ASC master glossary:

• Expected losses and expected residual returns.
• Financial instrument.
• Transaction.
• Cash balance plan.

The Board considered the effective date and transition requirements of ASU 2017-08, Premium Amortization on Purchased Callable Debt Securities, and ASU 2016-13, Measurement of Credit Losses on Financial Instruments, before directing its staff to begin drafting a proposed ASU for a vote by written ballot.

For more information, see the tentative Board decisions on the FASB’s Web site.

In addressing the purpose of his request for comments, Chairman Clayton stated, “Since the financial crisis, activity in the SEC-registered RMBS space has been very limited and since the Commission revised its ABS rules in 2014, no SEC-registered RMBS offerings have taken place. . . . While there are a number of factors that may be contributing to the absence of SEC-registered RMBS offerings, I am interested in receiving feedback on whether any portion of the Commission’s 2014 ABS rules are a significant contributing factor to this absence.”

The SEC has created both a webform and an e-mail box that the public can use to submit feedback on this topic. For more information, including a list of specific questions for consideration, see Chairman Clayton’s public statement on the SEC’s Web site.

The pro­posal would “amend most fee-bearing forms, schedules, statements, and related rules to require each fee table and accompanying disclosure to include all required information for fee calculation in a structured format.” In addition, the proposal would allow a fee to be paid by using the Automated Clearing House payment system and remove the option of paying a fee by using paper check and money orders.

Com­ments on the pro­posed rule are due 60 days after the date of its pub­li­ca­tion in the Federal Reg­is­ter. For more in­for­ma­tion, see the pro­posed rule on the SEC’s Web site.