The Center for Audit Quality and other influential organizations are asking leaders of the House Financial Services Committee to safeguard the role of the SEC in overseeing the Financial Accounting Standards Board.

CAQ executive director Cindy Fornelli, and the leaders of the Council of Institutional Investors and the U.S. Chamber of Commerce, have penned a letter to Chairman Barney Frank, D-Mass., and other leaders of the committee and a key subcommittee. They are concerned about recent proposals to put FASB beneath the oversight of a so-called “systemic risk regulator” as part of a broad overhaul of the financial regulatory structure.

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