FASB Chair Has 3 Weeks To Tweak Mark-To-Market

Law360, New York (March 12, 2009, 12:00 AM EDT) -- The head of the Financial Accounting Standards Board told a congressional committee at a tense hearing Thursday that he would push to get his agency to provide clear guidance on the flexible use of mark-to-market accounting standards.

Faced with threats of legislation that could force accounting standards changes if FASB does not act, the board's chairman Robert Herz said at a hearing of the House Financial Services subcommittee on capital markets, insurance and government-sponsored enterprises that he would work to put out new guidelines for financial...
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