Levitt's Latest Foe Is Sen. Lauch Faircloth:Powerful Figure Could Hurt Levitt's SEC Renomination
Traders Magazine, December 1997
Sen. Lauch Faircloth (R-N.C.) has come out swinging against a new derivative accounting rule proposed by the Financial Accounting Standards Board (FASB), a privately-funded independent agency.
Faircloth, head of the Senate Banking Committee's financial institutions and regulatory relief panel, has one enemy in mind the Securities and Exchange Commission. Faircloth said "the FASB has worked so closely with the SEC, this appears to be a regulatory dispute, not an accounting dispute."
All TradersMagazine.com articles are archived after 7 days. REGISTER NOW for unlimited access to all recently archived articles, as well as thousands of searchable stories. Registered Members also gain access to exclusive industry white paper downloads, web seminars, online technology directory, the iPad App, and conference discounts. Qualified members may also choose to receive our free monthly magazine and any of our e-newsletters covering the latest breaking news, opinions from industry leaders, developing trends and trading strategies.