Statement in Support of Proposing Targeted Amendments to AS 6101, Letters for Underwriters and Certain Other Requesting Parties

Remarks as prepared for delivery 

Good morning and thank you, Chairman Logothetis.

I support the recommendation to issue for public comment the proposed targeted amendments to AS 6101, Letters for Underwriters and Certain Other Requesting Parties, (AS 6101) before us today.   

I encourage all interested parties to respond to our request for comment. Given the somewhat unique nature of AS 6101, I especially encourage comments from underwriters and others within the financial services sector. As users of comfort letters, your views and the responses to the proposal’s questions are important. I am particularly interested in commenters response to question six, which asks whether the proposed targeted amendments will change current practice. I am eager to understand in what ways current practice may change.

Let me acknowledge and thank those that have contributed to today’s proposal: from the Office of the Chief Auditor, Dominika Taraszkiewicz, Jessica Watts, Lisa Calandriello, Clair Sever, and Kevin Lombardi; from the Office of Economic and Risk Analysis, Ying Compton, Rahsan Inget, John Cook, and Shayna Vereen; and from the Office of the General Counsel, George Kostolampros, Matt Goldin, Katherine Kelly, and Jayme Herschkopf.