Ending the
Overview:
FASB recently spelled out the demise of the Qualified Special Purpose Entity via its publication of Standard Nos. 166 (Accounting for Transfers of Financial Assets) and 167 (Amendments to FASB Interpretation No. 46(R) ). QSPE’s were long criticized because they allowed some assets to be removed from the company’s books although in essence, they were still actively under the control of the company. It is often thought that this significantly contributed to the rampant securitization issues that were a central part of the financial system meltdown. SFAS 166 and 167 ensure that companies can only remove assets that they do not control. Interestingly, SFAS 166 & 167 are more guidance-based vs. rules-based leaving the door open to a considerable array of interpretations. Many wonder if companies will really comply with the guidance or merely “go through the motions”. The critical issue here is how the new regulations will apply to your assets and the transactions that you may have in your pipeline.The Knowledge Group has assembled a panel of key thought leaders and regulators to help Finance and Accounting Executives understand this and all the important issues with respect to SFAS 166 & 167 including interpretation and best practices. This live webcast is a must-attend for all professionals who need to be in the know with respect to understanding SFAS 166 & 167.
Agenda:
- Structures that will achieve sale treatment under SFAS 166 & 167
- Term ABS structures
- ABCP structures
- Update on regulatory changes resulting from adoption of SFAS 166/167
- SFAS 166
- Removal of the QSPE concept
- Revisions to the conditions for sales accounting (par. 9)
- "Participating interest": attributes and accounting for transfers thereof
- SFAS 167
- The new consolidation model for variable interest entities: "power" and "potentially significant"
economics
- Kickout and participating rights: will they continue to matter?
- When may a decision-maker be considered a fiduciary?
- Operationalizing SFAS 167
- Inventory Development and Control
- Investment Life cycle
- Quarterly Monitoring
- Reconsideration Processes
- Reporting
- SFAS 167
- The new consolidation model for variable interest entities: "power" and "potentially significant"
economics
- Kick out and participating rights: will they continue to matter?
- When may a decision-maker be considered a fiduciary?
- Refresher on current consolidation model
Who Should Attend:
- Accountants/ CPAs
- Financial Analysts
- Finance Managers & Attorneys
- Securitization Practicing Attorneys and Consultants
- Financial Instruments and Credit Consultants
- Capital Markets and Corporate and Securities Consultants
- Senior Corporate Management
Stuart M. Litwin is a partner and co-head of the global Securitization Group at Mayer Brown LLP. He is one …
Jeffrey T. Allen is a Managing Director in PricewaterhouseCoopers’ New York-based Financial Instruments and Credit Group (FICG), where he specializes …
Bob is a New York Principal focused on regulatory and Capital Markets for clients in the banking & securities, exchange …
Tracy joined TS after nine years in the Audit practice. She focuses on providing accounting advice under US GAAP and …
Course Level:
Intermediate
Advance Preparation:
Print and review course materials
Method of Presentation:
On-demand Webcast (CLE)
Prerequisite:
NONE
Course Code:
93909
Total Credits:
2.0 CLE
Login Instructions:
No Access
You are not logged in. Please Login or register to the event to gain access to the materials and login instructions.
Unlock All The Knowledge and Credit You Need
Leading Provider of Online Continuing Education
It's As Easy as 1, 2, 3
Get Your 1-Year All Access Pass For Only $199
SPEAKERS' FIRMS:
About Mayer Brown LLP
Website: https://www.mayerbrown.com/
About PricewaterhouseCoopers LLP
Website: https://www.pwc.com/
About Deloitte & Touche LLP
Website: https://www.deloitte.com/
About KPMG LLP
Website: https://www.kpmg.com/