*Letters

SIA and TBMA Submit Comments to the SEC on Auditors Due Diligence

Published on:
October 13, 2005

The Securities Industry Association (SIA)* and The Bond Market Association (TBMA)*provide comments to the Securities and Exchange Commission (SEC)on positions taken by the American Institute of Certified Public Accountants (AICPA) in their proposal (White Paper II) issued at the meeting they hosted on October 11, 2005. The associations voice concern that the proposal would effectively withdraw accounts from the due diligence process in securities offerings, to the detriment of investors.

*SIFMA is the product of a merger between the Securities Industry Association (SIA) and The Bond Market Association (TBMA) in 2006.

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