Mary Jo White Says SEC Statement on IFRS Coming Soon
Despite uncertainty regarding the agency’s next steps, U.S. Securities and Exchange Commission’s (“SEC”) Mary Jo White reaffirmed that International Financial Reporting Standards (IFRS) continue to be a top priority. After a June 20th speaking engagement with the Economic Club of New York, the SEC Chair remarked that her agency will have an updated IFRS statement in the near future, but is unsure what details it could contain. Per White, the last major issue relates to whether or not, and to what degree could IFRS be offered to domestic issuers. When issued, the SEC’s statement will be the first concerning IFRS. Read More.
Topics: Convergence, Domestic Issuers, Economic Club of New York, Global Accounting Standards, International Accounting Standards Board "IASB", International Financial Reporting Standards "IFRS", Mary Jo White, U.S. Securities and Exchange Commission "SEC"
SEC Chair Wants to Improve Market Stability
Tackling stock market criticism regarding high-speed computer-driven trading, U.S. Securities and Exchange Commission (“SEC”) Chair Mary Jo White has proposed initiatives “recommending additional measures to further promote market stability and fairness, enhance market transparency and disclosures, and build more effective markets for smaller companies.” Speaking at the Global Exchange and Brokerage Conference last week in New York, White mentioned the drafted proposals require high-frequency traders to list as broker dealers with regulators, exposing them to increased regulatory scrutiny. In addition, the proposal would increase supervision of high-frequency traders and further regulate transactions that happen outside of public exchanges. Also recommended. Read More.
SEC’s White Speaks at Trustees Dinner
At the May 20th Financial Accounting Foundation Trustees Dinner, U.S. Securities and Exchange Commission (“SEC”) Chair Mary Jo White reflected on global accounting standards matters concerning the SEC. During the event in Washington, D.C., she hinted that the SEC is still considering the addition of International Financial Reporting Standards (“IFRS”) for domestic registrants. Although no timetable was given for when the issue would be addressed, White noted that the interests of U.S. investors would be front and center during the IFRS consideration process. White also supported the opinions expressed by other SEC members. Such views included the country’s role in. Read More.