During the second quarter of 2022, the Financial Accounting Standards Board issued one new standard on the fair value measurement of equity securities subject to contractual sale restrictions and a new proposal on the deferral of reference rate reform and amendments to the definition of the Secured Overnight Financing Rate swap rate.
The Securities and Exchange Commission (SEC) issued a statement on importance of independence; remarked on market structure, enforcement landscape, swaps, climate-related disclosures proposal, its special purpose acquisition companies proposal, financial markets, and cybersecurity; proposed environmental, social, and governance disclosures for certain investment advisers and investment companies and changes to the Names Rule for funds; extended the comment period for its climate-related disclosures; reopened comment periods for recovery of erroneously awarded compensation, for private fund advisers, and for Regulation ATS proposals; and issued guidance on crypto assets and geopolitical risk considerations. The SEC also announced its 2022 examination priorities.
In addition to these highlights from the quarter, this report covers updates from the American Institute of Certified Public Accountants and the Chartered Institute of Management Accountants as well as the Governmental Accounting Standards Board. |
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