Exposure Draft Development
Open for general feedback
The project will evaluate the Systemic Risk Management topic in the Asset Management & Custody Activities industry standard, including potential improvements to the scope of the topic and the associated accounting metrics.
Two out of four accounting metrics under the Systemic Risk Management topic in the Asset Management & Custody Activities industry standard may no longer satisfy three of the criteria for metric selection as specified in the SASB Conceptual Framework: fair representation, usefulness, and alignment. Additionally, changing product trends within the industry that are not currently captured by the standard may contribute to, or result in, exposure to systemic risk. Therefore, the current content of the standard is not adequately measuring performance on the topic and does not provide decision-useful information to investors. For more project background, please read our call for feedback.
- Phase 1 - Initial Research
- Phase 2 - Stakeholder Consultation
- Phase 3 - Post-Consultation Analysis
- Phase 4 - Exposure Draft Development
- Phase 5 - Public Comment Period
- Phase 6 - Standards Board Deliberations
- Phase 7 - Completed
Company and investor consultations
Exposure Draft Public Comment Period
Board Materials & Decisions
Board Meeting Outcomes
- The Board unanimously agreed to add a project on Systemic Risk in Asset Management to its standard setting agenda.
- The Board made a preliminary decision to remove accounting metric FN-AC-550a.1 from the Asset Management & Custody Activities Standard, which calls for a breakdown of open-end fund assets by liquidity category.
For a full list of past and upcoming Standards Board meetings, as well as associated materials, please visit our Board Meetings Calendar & Archive.
The staff has prepared this summary for informational purposes only. Any Standards Board decisions are tentative and do not change current accounting. Official positions of SASB are determined only after extensive due process and deliberations.