At this event, the Shadow Financial Regulatory Committee presented a summary of its meeting on February 21, 2010.

The Shadow Financial Regulatory Committee (SFRC) is a group of publicly recognized independent experts on the financial services industry--including banking, insurance, and securities--who meet regularly to study and critique regulatory policies affecting this sector of the economy. At the two closed sessions before the luncheon, committee members will discuss, among...

The Shadow Financial Regulatory Committee (SFRC) is a group of publicly recognized independent experts on the financial services industry--including banking, insurance, and securities--who meet regularly to study and critique regulatory policies affecting this sector of the economy. At the two closed sessions before the luncheon, committee members will discuss, among...

The Enron scandal has raised questions about the quality of the Generally Accepted Accounting Principles (GAAP) that are at the foundation of the accounting system in use in the United States. Meanwhile, the SEC’s insistence that GAAP is superior to the International Accounting Standards (IAS) used in Europe...

The Shadow Committee believes that despite the shortcomings ofFAS 157 (Fair Value Measurements), simply suspending the accounting rulewould be a mistake. Instead, the Committee recommends that the SEC and banking agencies make a concerted effort to require more detailed information about the holdings of specific financial assets as well as the methods by which the assets are valued.

At this luncheon press briefing, SFRC members issued statements and answered questions.

At this luncheon press briefing, SFRC members will issue one or more statements and answer questions.

The Shadow Financial Regulatory Committee will present the findings of their closed door discussions.