Focus on FAS
There are more than enough standards and regulatory changes to comment on at the moment. But the one that close to 400 firms chose to submit feedback on recently was related to fair-value pricing and accounting in the US. The accounting standard FAS 157 has now gone from FAS 157-3 to FAS 157-4. The latest version suggests firms should use alternative valuation techniques if a market is inactive and quotes are distressed.
This new guidance is expected to impact the evaluated prices market because
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