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US Week in Review: Week ending 23 January 2025


The US Week in Review highlights this week’s developments and emerging issues in the financial reporting world and gives you direct access to relevant technical accounting guidance and thought leadership produced by EY.

What’s new from EY

NAIC Fall 2024 Bulletin on recent developments in the statutory insurance accounting and regulatory framework

Regulatory matters

Securities and Exchange Commission (SEC)

Mark Uyeda named Acting Chairman of the SEC

President Trump named Mark Uyeda as Acting Chairman of the Securities and Exchange Commission. Mr. Uyeda, a Republican, joined the Commission in 2022 and was subsequently confirmed for a five-year term through 2028. Former SEC Chairman Gary Gensler resigned from the Commission on 20 January 2025. President Trump is expected to nominate former SEC Commissioner Paul Atkins to serve as SEC Chairman.

Standard Setter updates

Financial Accounting Standards Board (FASB)

FASB proposes Codification improvements

The FASB proposed amendments to a variety of topics in the Accounting Standards Codification to clarify the guidance, correct errors or make minor improvements. Comments are due by 22 April 2025. See our upcoming To the Point.

Upcoming webcasts

Information regarding upcoming events can be found on the EY webcasts site.

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