AMF COO Senior Executive Group to Meet in Boston
On Monday, October 4, 2004, members of the AMF COO Group will meet with other senior executives from Boston and New England-based asset management firms. The purpose of this meeting is to introduce interested executives to the work of the AMF COO Group. Since its formation in 2004, the Group has participated in several industry advocacy efforts on issues that could affect the business of asset management firms. As a group, participating COOs (and other individuals at the senior management level) meet through the Forum to discuss corporate governance issues, emerging regulatory developments and other high-level issues which are relevant to buyside business practices. In addition to addressing potential reforms, the COO Senior Executive Group provides participants with invaluable networking opportunities.
Thomas Hirschfeld, Chief Operating Officer Investments of J. & W. Seligman, serves as Chairman of the Forum's COO Group.
If a COO or other Senior Executive at your firm is interested in participating in this Group, please contact Joseph Sack, Executive Director of the AMF COO Senior Executive Group at 646.637.9265.
Click here to read more about the AMF COO Senior Executive Group
FASB Update on EITF 03-1: Final Staff Position
At the FASB Board meeting on September 30, 2004, the FASB staff asked the board to consider whether it should delay the effective date of paragraph 16 of EITF Issue 03-1 and also the effective date of all application guidance under Issue 03-1.
According to a FASB Staff Position posted on September 30, the Board has directed the FASB staff to delay the effective date for the measurement and recognition guidance contained in paragraphs 10-20 of Issue 03-1. The FASB Staff Position also offers guidance during the delay period.
The AMF Accounting Policy Committee will continue to follow developments.
Click here to read the FASB Staff Position
Click here to read the September 30 FASB Board Meeting Handout
Click here to read EITF Issue No. 03-1
SEC Publishes New Concept Release with Sights on Automation
Early this week, the Securities and Exchange Commission promulgated a new Concept Release designed to seek industry comment and input on the possibility of improving the filing, information collection and disclosure process with the Commission through automation. Specifically, the SEC is considering the possibly of using "tagged data" in registrants' EDGAR filings to improve the timeliness and accuracy of financial information. Data tagging would provide a method for searching, retrieving, and analyzing information through automated means, thereby possibly creating enhanced efficiency. The SEC's Concept Release seeks comment on the use of tagged data in certain Securities Exchange Act and Investment Company Act filings. If there is interest from the membership, the AMF will consider commenting on the Release.