October 24, 2007
DC Beat: Jim Cox for SEC; Hill Hearings on IFRS
Posted by Lawrence Cunningham

Two items from the nation's capital:

(1)  Jim Cox, corporate, securities and accounting scholar at Duke, is being mentioned around town as an excellent candidate for appointment as Commissioner of the Securities and Exchange Commission. Particularly strong support appears from investors, although the enthusiasm seems broad-based. Pardon any presumptuousness, but my guess is that regular Glom readers would concur overwhelmingly. I certainly do (and would be happy to elaborate in comments to this post for those less familiar with Professor Cox). Other names afloat to fill one of the two Democratic vacancies are WilmerHale partner Yoon-Young Lee and McKenna Long partner Luis Aguilar.  (Hat tip: Kate Ackley, Roll Call.)

(2) Heading up to the Hill this afternoon for hearings on international financial reporting standards. A Subcommittee of the Senate Banking, Housing, and Urban Affairs Committee will hear testimony from two panels of witnesses beginning at 2:00 p.m.  Scheduled to testify before the Securities, Insurance and Investment Subcommittee are the current SEC Chief Accountant and Director of Corporate Finance, the Chairs of IASB and FASB, plus U. Indiana Accounting Professor Teri Yohn and former SEC Chief Accountant Lynn Turner. Rumors about why the hearings have been called should be cleared up (the rumors concern the evident allure of IFRS to the current SEC Chairman).

As DC denizen and Glom man, David Zaring, has said, “only in DC kids, only in DC.”


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