While the amendment to FAS 140 has stolen the limelight lately, the discussion of collateral manager fees, and how they are treated under FIN 46, made a brief resurgence in accounting talk last week. On Tuesday, John Hancock Financial Services petitioned the Financial Accounting Standards Board to take these fees out of the FIN 46 expected residual return analysis, threatening $3.9 billion in consolidation associated with assets in Hancock-managed CDOs.

The firm submitted a letter for the board's consideration at the following morning's meeting. Just a week before, FASB added this and other topics associated with a never-finalized FASB Staff Position to its agenda. The board published the final versions of five companion FIN 46 FSPs in late July.

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