Accounting board trustee Stone resigns following US SEC charges

WASHINGTON Fri Dec 21, 2012 2:06pm EST

WASHINGTON Dec 21 (Reuters) - Mary Stone has resigned from her post as a trustee of the Financial Accounting Foundation, the board which governs the panel that sets U.S. accounting standards, the FAF said Friday.

Stone's resignation comes after she was one of eight former board members of Morgan Keegan, now an affiliate of Raymond James Financial Inc, who were charged earlier this month by the U.S. Securities and Exchange Commission with failing to oversee managers who inaccurately priced toxic mortgage-backed assets in the period leading up to the financial crisis.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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