MFA Letter to FASB Requesting a Rule Adoption to Exempt Hedge Funds and Certain Private Investment Funds from FASB Interpretation No. 48

MFA sent a comment letter to the Financial Accounting Standards Board (FASB), requesting that FASB adopt a rule exempting hedge funds and certain other private investment funds from FASB Interpretation No. 48, Accounting for Uncertainty in Income Taxes – An Interpretation of FASB Statement No.109 (FIN 48). The recent letter sent to FASB makes reference to an earlier MFA letter sent on January 12, 2007 to FASB, requesting the postponement of the effective date of FIN 48 because of significant uncertainty in the implementation of FIN 48 by private investment funds.