Critics condemn FASB proposals

FASB has received an avalanche of protest letters in response to plans that would shake up how companies account for debt securities held in ‘available-for-sale’ portfolios, which represent around 90% of securities held by banks. Saskia Scholtes reports

A litany of corporate governance crises in recent years has ushered in a raft of reforms with the aim of protecting investors through greater financial transparency and corporate responsibility. And yet the task of regulator is often a thankless one, as any reforms can also have the sometimes unintended consequence of altering the competitive landscapes of the industries they relate to.

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