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SEC’s Fair Value Roundtable; IASB/FASB Advisory Group

Tammy Whitehouse | October 17, 2008

If you have strong views about mark-to-market accounting, then mark your calendar for Oct. 29, when the Securities and Exchange Commission will be all ears.

The SEC has scheduled a public roundtable to discuss mark-to-market, or fair value, accounting in the current market turmoil. Banks hate it because it requires them to show losses on underwater securities, largely based on bad loans. Investors love it because they say it’s the most relevant way to measure value.

The roundtable is part of the SEC’s effort to meet a Congressional mandate, contained in the Emergency Economic Stabilization Act of 2008, to study and analyze mark-to-market accounting and report back to Congress in 90 days. The SEC says it will hold a second roundtable as well at a future date.

The Oct. 29 event will consist of two panels—one to discuss the interplay of mark-to-market accounting for financial institutions and the...

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