FASB Seeks Greater Institutional Investor Input

The FASB announced today that it is starting an investor task force, primarily made up of asset managers from mutual funds and other institutional investors. Sample firms included are Capital Group, Fidelity, Putnam, T. Rowe Price and Wellington (presumably with Vanguard ties). Each firm's director of research will identify analysts who can provide input on a potential initiative. Presumably, this task force would supplement participation in the User Advisory Council and Emerging Issues Task Force and blunt criticism that FASB has been too slow on soliciting advice from investors.