Regulators, Fannie Mae OK deal

Article Abstract:

Mortgage giant, Fannie Mae would increase its reserve against risk by billions of dollars, recalculate hedging transactions, and tighten internal controls due to the increasing pressure from regulators to correct serious accounting problems. As per the Office of Federal Housing Enterprise Oversight, Fannie Mae needs to maintain an additional capital cushion equivalent to 30 percent of the company's current minimum capital requirement.

Massachusetts, Mortgage Bankers, Real Estate Credit, Mortgage Bankers and Brokers, Mortgage Bankers & Brokers, Mortgage and Nonmortgage Loan Brokers, FNM, Mortgage banks, Hedge funds, Federal National Mortgage Association

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Board moves to require firms to expense all stock options

Article Abstract:

The Financial Accounting Standards Board in the US has made a proposal to require publicly traded companies to record all forms of share-based payments to employees, including employee stock options, as a compensation expense. If approved, the proposal would be effective for the fiscal years beginning after December 15, 2004, and would have severe consequences for profit and executive pay in corporate America.

Government regulation (cont), Government regulation, Laws, regulations and rules, Accounting, Employee stock options, Financial Accounting Standards Board, Accounting law, Joint-stock companies, Joint stock companies

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Drug firm settles SEC case on fraud

Article Abstract:

The Securities and Exchange Commission (SEC) filed a suit against Bristol-Myers Squibb Co. in August 2004 and ordered it to pay $150 million to settle allegations of accounting fraud. The SEC sued the company in federal court in Newark, New Jersey, accusing it of manipulating its inventory of drugs to inflate earnings.

Pharmaceutical preparations, Company legal issue, Cases, Pharmaceutical industry, Bristol-Myers Squibb Co., United States. Securities and Exchange Commission, BMY

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