The Board of Trustees of the Financial Accounting Foundation announced that it has appointed Richard R. Jones as the next chair of FASB. Mr. Jones succeeds Russell G. Golden and his appointment is effective July 01, 2020. Mr. Jones is expected to join the organization in early 2020 to enable a smooth, orderly leadership transition for FASB. Mr. Jones is chief accountant and partner at Ernst & Young LLP (EY), leading a large and diverse team of EY professional colleagues in the national office of the firm.
As EY’s chief accountant, Mr. Jones leads the effort to help the firm’s clients and engagement teams understand accounting requirements, develop the firm’s views on proposed accounting standards, and oversee EY’s accounting publication efforts across all sectors: public companies, private companies, not-for-profit organizations, employee benefit plans, and government entities. Mr. Jones previously served on the Financial Accounting Standards Advisory Council (FASAC) from 2016 to 2018. He was also a member of the Accounting Standards Executive Committee of the American Institute of Certified Public Accountants (AICPA) from 2003–2008.
Related Link: Press Release
Keywords: Americas, US, Accounting, Banking, Insurance, FASB Chair, Richard Jones, FASB
Previous ArticleEBA Updates List of Common Equity Tier 1 Instruments Under CRR
The European Banking Authority (EBA) published the final guidelines on the monitoring of the threshold and other procedural aspects on the establishment of intermediate parent undertakings in European Union (EU), as laid down in the Capital Requirements Directive (CRD).
In a recent Market Notice, the Bank of England (BoE) confirmed that green gilts will have equivalent eligibility to existing gilts in its market operations.
The Financial Conduct Authority (FCA) published the policy statement PS21/9 on implementation of the Investment Firms Prudential Regime.
The European Banking Authority (EBA) proposed regulatory technical standards that set out criteria for identifying shadow banking entities for the purpose of reporting large exposures.
The Board of the International Organization of Securities Commissions (IOSCO) proposed a set of recommendations on the environmental, social, and governance (ESG) ratings and data providers.
The European Securities and Markets Authority (ESMA) published recommendations from the Working Group on Euro Risk-Free Rates (RFR) on the switch to risk-free rates in the interdealer market.
The European Commission (EC) announced plans to defer the application of 13 regulatory technical standards under the Sustainable Finance Disclosure Regulation (2019/2088) by six months, from January 01, 2022 to July 01, 2022.
The European Insurance and Occupational Pensions Authority (EIOPA) proposed to amend the supervisory statement on supervision of run-off undertakings that are subject to Solvency II regulation.
The Bank of England (BoE) published a consultation paper on approach to setting minimum requirement for own funds and eligible liabilities (MREL), an operational guide on executing bail-in, and a statement from the Deputy Governor Dave Ramsden.
The European Banking Authority (EBA) is seeking preliminary input on standardization of the proportionality assessment methodology for credit institutions and investment firms.