SEC Int'l Accounting Standard Takes Shape

Law360, New York (July 5, 2007, 12:00 AM EDT) -- On the day before the United States celebrated its independence, the U.S. Securities and Exchange Commission took further steps toward giving foreign companies more choice over whether to comply with international rather than U.S. accounting standards.

The SEC published the proposed rule change in the Federal Register, initiating a 75-day period for public comment. The SEC had approved this action unanimously on June 20.

The proposed rule change, first discussed in a roundtable meeting in March, would allow foreign companies that are registered with the SEC...
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