Tuesday, July 29, 2008

SEC: off-balance sheet rule changes won't create shocks


Changes to off-balance-sheet transactions would mean that current and new entities will have to be brought onto the books

Changes to a contentious accounting rule could force trillions of dollars of off-balance-sheet transactions back onto companies' books, but it will be done in a way to avoid unnecessary shocks in the market.

The assurance to companies came from Securities and Exchange Commission chairman Christopher Cox.

See full Article.