The Joint Accounting Bodies have lodged a final submission to the IASB on Request for Views on Proposed FASB (Financial Accounting Standards Board) Amendments on Fair Value Measurement and Proposed FASB Amendments to Impairment Requirements for Certain Investments in Debt and Equity Securities.  
 
As the Joint Accounting Bodies have stated in previous submissions, we support a comprehensive review of financial instruments to be undertaken jointly by the IASB and the FASB as a matter of priority. Accordingly, we would not support a short-term proposal from the IASB to act on the recent decisions of the FASB as they relate to additional guidance on determining whether a market for a financial asset is not active and a transaction is not distressed for fair value measurement and impairment recognition, and measurement requirements for financial instruments.  
 
A copy of the final submission is available on our website (PDF).