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The Cost of Living Council’s Proposed Rule 73-1 is discussed as continuing the existing confidentiality classifications, with proprietary and confidential terms treated as synonymous. FEI leaders publicly support the rule, while also arguing against disclosure of proprietary cost and profit data. Additional coverage announces FASB task forces for foreign currency translation and diversified company reporting, lists appointed members, outlines further technical agenda projects, and announces a new slide presentation for chapters.",{"@graph":69,"@context":122},[70,84,105],{"@type":71,"itemListElement":72},"BreadcrumbList",[73,77,79,82],{"item":74,"name":75,"@type":76,"position":8},"https://docshare.wps.com","Home","ListItem",{"item":78,"name":9,"@type":76,"position":14},"https://docshare.wps.com/document/",{"item":80,"name":40,"@type":76,"position":81},"https://docshare.wps.com/document/research-report/",3,{"item":83,"name":65,"@type":76,"position":19},"https://docshare.wps.com/document/clc-proposal-supported-two-fasb-task-forces-chosen-fei-questions-disclosure-of-compensating-balances-new-slide-presentation-available-to-chapters/567619/",{"url":83,"name":65,"@type":85,"image":86,"author":91,"headline":65,"publisher":94,"fileFormat":97,"inLanguage":63,"description":67,"dateModified":98,"datePublished":99,"encodingFormat":97,"isAccessibleForFree":100,"interactionStatistic":101},"DigitalDocument",{"url":87,"@type":88,"width":89,"height":90},"https://docshare.wps.com/thumbnails/clc-proposal-supported-two-fasb-task-forces-chosen-fei-questions-disclosure-of-compensating-balances-new-slide-presentation-available-to-chapters/567619.png","ImageObject",300,407,{"name":92,"@type":93},"Riley","Person",{"url":74,"name":95,"@type":96},"DocShare","Organization","application/pdf","2026-10-17","2026-10-13",true,{"@type":102,"interactionType":103,"userInteractionCount":8},"InteractionCounter",{"@type":104},"ViewAction",{"@type":106,"mainEntity":107},"FAQPage",[108,114,118],{"name":109,"@type":110,"acceptedAnswer":111},"What change to Section 205 affects disclosure of confidential business information?","Question",{"text":112,"@type":113},"After the April 30, 1973 amendment, Section 205 provides an exception from confidential treatment for certain information when a firm changes a price for a “substantial product” by more than 1.5% above the lawful price effective on January 10, 1973.","Answer",{"name":115,"@type":110,"acceptedAnswer":116},"How does FEI support the Cost of Living Council’s interpretation of Proposed Rule 73-1?",{"text":117,"@type":113},"FEI states it is in complete agreement with the Council’s interpretation, fully supporting Proposed Rule 73-1 and concluding that the language in Section 205 aligns with 18 U.S.C. 1905, with “proprietary” and “confidential” understood as synonymous.",{"name":119,"@type":110,"acceptedAnswer":120},"Which two FASB task forces are announced, and who leads them?",{"text":121,"@type":113},"One task force will consider accounting for foreign currency translation chaired by FASB member Donald J. Kirk. The other will study reporting by diversified companies, headed by Standards Board member Arthur L. Litke.","https://schema.org",{"og:url":83,"og:type":124,"og:title":65,"og:site_name":95,"og:description":67},"article",{"robots":126,"canonical":83},"index,follow",{"doc_id":128,"site_id":62},567619,1792274075,{"code":4,"msg":5,"data":131},{"doc_id":128,"user_id":132,"nickname":92,"user_avatar":133,"doc_module":4,"category_id":39,"category_name":40,"doc_title":65,"doc_description":67,"doc_content":134,"file_id":135,"file_url":136,"file_type":137,"file_size":138,"view_count":8,"is_deleted":4,"is_public":8,"is_downloadable":8,"audit_status":8,"page_count":139,"language":140,"language_code":63,"site_id":62,"html_lang":63,"table_of_contents":141,"faqs":142,"seo_title":143,"seo_description":67,"update_tm":144,"read_time":145},1374391975076,"https://ap-avatar.wpscdn.com/avatar/14000253ca4ec9f6853?x-image-process=image/resize,m_fixed,w_180,h_180&k=1783305029341752051","# CLC Proposal Supported\n\nPrior to its amendment on April 30,1973,Section 205 of the EconomicStabilization Act of 1970 barred dis-closure of confidential business infor-mation.On April 30,however,Section205 was amended to provide an excep-tion from confidential treatment withrespect to certain information \"when-ever a firm changes a price for a 'sub-stantial product'which is more than  \n1.5 percent above the lawful price ineffect on January 10,1973.”(FederalRegister,May 11,1973)  \nThe Cost of Living Council's Pro-posed Rule 73-1 concerning the publicdisclosure of CLC reports interpretsthe new Section 205 to continue ineffect the same confidentiality classi-fications as set forth in 18 U.S.C.1905.The CLC believes that \"nochange was intended by the use of theterm ‘proprietary'in the new Section205 and that ‘confidential'in 18U.S.C.1905 and ‘proprietary'in Sec-tion 205 of the Economic StabilizationAct are to be understood as synony-mous.\"(Federal Register,May 11,1973)  \nAt the CLC public hearing on June6 in Washington,FEI President Charles  \nC.Hornbostel stated that FEI was in“complete agreement”with the Costof Living Council's interpretation ofthe amendment.\"We fully support theCouncil's Proposed Rule 73-1...andthe conclusions drawn from the simi-larity of language used in Section 205compared with 18 U.S.C.1905,\"hestated.  \n“The public disclosure of proprie-tary cost and profit data is not neces-sary to achieve the objectives of theeconomic stabilization act.Success inthe fight against inflation dependsheavily upon cooperation between  \n# Two FASB TaskForces Chosen\n\nbusiness and government,\"Mr.Horn-bostel continued.  \nEleven FEI Members Appointed  \n\"Business firms demonstrated duringPhase II their willingness to cooperatein this effort by limiting their price in-creases and by working closely withthe Price Commission under the pro-tection of appropriate confidentialityprovisions.\"In conclusion,Mr.Horn-bostel said,“We see no reason whysuch a spirit of cooperation cannotcontinue to be successful in the con-tinuing fight against inflation underPhase IIl with public disclosure limitedto price changes which are,after all,the heart of the issue so far as thepublic is concerned.Moreover,the dis-closure of such proprietary cost andprofit data would have substantial ad-verse effects not only on the competi-tive position of individual companiesbut also on the ability of U.S.industryto compete effectively with foreigncompanies,which are not subject todisclosure requirements.”  \nThe appointment of the first twotask forces to assist the Financial Ac-counting Standards Board with itstechnical projects was recently an-nounced by Marshall Armstrong,FASBchairman.One group will consider ac-counting for foreign currency transla-tion,and the other group will studyreporting by diversified companies.  \nFEI members appointed to the taskforce on foreign currency translationare:Edward P.Fischer,treasurer,Mobil Oil Corporation;Frank Forester,executive vice president,MorganGuaranty Trust Company of NewYork;Gerhard G.Mueller,professorand chairman,University of Washing-ton;Allan Wear,general auditor,FordMotor Company;and John A.Willis,controller,Union Carbide Corporation.  \ncontinued on page 2  \n# FEI Questions Disclosureof Compensating Balances\n\nFEI Requests Re-evaluation  \nFEI strongly urged the Securitiesand Exchange Commission to re-evalu-ate its proposed disclosures relating tocompensating bank balances(SEC Re-lease 33-5384)in an official FEI po-sition sent to SEC Secretary RonaldHunt on June 12.  \n“We are supportive of the intent ofthe Commission to provide meaningfuldisclosure of data pertaining to a firm'sliquidity and effective borrowing costs.However,we also concur with the  \nprinciple that required disclosureshould be limited to those situationsthat are ‘recognized to be both realand significant,'”the letter stated.“Requirements to disclose relativelyinsignificant information both undulyadd to corporate administrative costsand can produce such a ","cbCaitxoaDA2Vf2w","https://ap.wps.com/l/cbCaitxoaDA2Vf2w","pdf",3455009,11,"English","# CLC Proposal Supported\n## Two FASB Task Forces Chosen\n## FEI Questions Disclosure of Compensating Balances\n## New Slide Presentation Available To Chapters","[{\"question\":\"What change to Section 205 affects disclosure of confidential business information?\",\"answer\":\"After the April 30, 1973 amendment, Section 205 provides an exception from confidential treatment for certain information when a firm changes a price for a “substantial product” by more than 1.5% above the lawful price effective on January 10, 1973.\"},{\"question\":\"How does FEI support the Cost of Living Council’s interpretation of Proposed Rule 73-1?\",\"answer\":\"FEI states it is in complete agreement with the Council’s interpretation, fully supporting Proposed Rule 73-1 and concluding that the language in Section 205 aligns with 18 U.S.C. 1905, with “proprietary” and “confidential” understood as synonymous.\"},{\"question\":\"Which two FASB task forces are announced, and who leads them?\",\"answer\":\"One task force will consider accounting for foreign currency translation chaired by FASB member Donald J. Kirk. The other will study reporting by diversified companies, headed by Standards Board member Arthur L. Litke.\"}]","CLC Proposal Supported - Two FASB Task Forces Chosen - FEI Questions Disclosure of Compensating Balances - New Slide Presentation Available To Chapters | PDF",1791867183,28]