Bill Seeks SEC Suspension Of Mark-To-Market Rules

Law360, New York (April 3, 2009, 12:00 AM EDT) -- Rep. Steve Cohen, D-Tenn., has introduced a bill that directs the U.S. Securities and Exchange Commission to suspend the application of mark-to-market accounting, in a continued effort to curb an accounting practice that some say helped bring about the economic crisis.

Introduced to the U.S. House of Representatives on Thursday, the legislation known as H.R. 1909 would require the SEC to suspend by rule, regulation or order the application of mark-to-market accounting for any reports required to be submitted to the SEC after Jan. 1, 2008,...
To view the full article, register now.