Leaders of six business associations have written a joint letter to the Securities and Exchange Commission complaining that recent guidance about the use of judgment in fair value accounting "has the potential to cloud transparency."
In a letter to SEC Chairman Christopher Cox, leaders of the U.S. Chamber of Commerce Center for Capital Markets Competitiveness, the Financial Services Roundtable, the Property Casualty Insurers Association of America, the American Council of Life Insurers, the Mortgage Bankers Association and the American Insurance Association said they want the SEC to issue further guidance on the use of judgment in fair value accounting.
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