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Omnibus Proposal Of Professional Ethics Division Interpretations And Rulings ;Revision To Interpretation 101-5 Under Rule Of Conduct 101, "Independence:" The Meaning Of Certain Terminology Used In Rule 101-A-3;Meaning Of Certain Terminology Used In Rule 101-A-3;Ruling No. 66 Under Rule Of Conduct 101, "Independence:" Member's Investment In Individual Retirement Account Or Keogh Retirement Plan;Member's Investment In Individual Retirement Account Or Keogh Retirement Plan;Ruling No. 67 Under Rule Of Conduct 101, "Independence:" Member's Depository Relationship With Client Financial Institution;Member's Depository Relationship With Client Financial Institution;Ruling No. 68 Under Rule Of Conduct 101, "Independence:" Servicing Of Loan;Servicing Of Loan;Ruling No. 69 Under Rule Of Conduct 101, "Independence:" Blind Trust;Blind Trust;Ruling No. 70 Under Rule Of Conduct 101, "Independence:" Joint Investment With A Promoter And/Or General Partner;Joint Investment With A Promoter And/Or General Partner;Ruling No. 182 Under Rule Of Conduct 501, "Acts Discreditable:" Termination Of Engagement Prior To Completion;Termination Of Engagement Prior To Completion;Withdrawal Of Interpretation 201-3 Under Rule 201, "General Standards:" Shopping For Accounting Or Auditing Standards;Shopping For Accounting Or Auditing Standards; Exposure Draft (American Institute Of Certified Public Accountants), 1987, May 25, American Institute Of Certified Public Accountants. Professional Ethics Executive Committee

Exposure Drafts, Comment Letters, and Statements of Position

The Professional Ethics Executive Committee proposes to revise Interpretation 101-5 in order to provide guidance to members with respect to the terms "loans" and "financial institution" as used in Rule 101. Investment by a member's IRA or Keogh plan in a client would be considered to impair that member's independence with respect to that client. The member's independence would not be considered impaired with respect to the financial institution provided that the checking account, savings accounts, certificates of deposit, and money market account are fully insured. The mere servicing of a member's loan by a client financial institution would not …