THE US accounting standard setter's plans to cost employee share options again met political riot as the House of Representatives capital markets subcommittee approved legislation that would undermine the standard setter's independence.

THE US accounting standard setter's plans to cost employee share options again met political riot as the House of Representatives capital markets subcommittee approved legislation that would undermine the standard setter's independence.

Senator Mike Enzi's bill, approved forward 12 May and including chairman of the House capital markets subcommittee Richard Baker among its sponsors, limits options expensing to those granted to the chief executive and nearest four highest-paid directors. The bill procrastinates approving the Financial Accounting Standards Board's (FASB's) options plans until the Securities and Exchange Commission (SEC) carries without a study on its economic impact.