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Corporate & Securities Law

: Jim Hamilton's World of Securities Regulation

By Jim Hamilton

SEC and FASB Guide on Fair Value Accounting under FAS 157As the market crisis continues, the SEC and FASB have issued joint guidance on the fair valuation of illiquid securities under FAS 157. Some commenters have said that the mark to market accounting demanded by FAS 157 contributed to the crisis. Many of the illiquid mortgage-backed securities that are to be purchased by the federal government are FAS 157 level three securities with no active markets.The SEC and FASB sat that managers may use read more

Full post as published by Jim Hamilton's World of Securities Regulation on October 01, 2008 (boomark / email).