The SEC released new rules that will make it easier for
foreign companies to deregister from U.S. exchanges if there is not
significant interest in their securities offerings. By eliminating
conditions that had been considered a barrier to entry, the SEC says
the amended rules will encourage participation in U.S. markets and
increase investor choice. The new rules go into effect June 4. To
download the new rules, go to
www.sec.gov/rules/final/2007/34-55540fr.pdf .
The International Accounting Standards Board (IASB)
revised International Accounting Standard (IAS) no. 23, Borrowing
Costs. The primary change in the revised standard is the
removal of the option to immediately recognize as expenses borrowing
costs that relate to assets that take a substantial period of time to
get ready for use or sale. The revision continues the IASB’s work in
its short-term convergence project with FASB to reduce differences
between International Financial Reporting Standards and U.S. GAAP. The
revised standard applies to borrowing costs relating to qualifying
assets for which the commencement date for capitalization is on or
after Jan. 1, 2009. Earlier application is permitted. For more
information or to purchase the standard, visit www.iasb.org .
