H.R.607

To direct the Securities and Exchange Commission to issue guidance on the interpretation of fair value accounting.

1/16/2009--Introduced.

Directs the Securities and Exchange Commission (SEC) to issue guidance on the interpretation of the fair value accounting standards set forth by the Financial Accounting Standards Board (FASB), including the SEC interpretation and application of FASB Statement Number 157.

Requires the SEC to report to specified congressional committees on any FASB actions taken relating to the SEC recommendations submitted to Congress on December 30, 2008.

View comments | (Close Window)