SECURITIES

FASB Panel Agrees to More Public Members: The trustees who oversee the Financial Accounting Standards Board said they have agreed to a Securities and Exchange Commission request to set aside half their seats for public members. The agreement, which was expected, would reduce business’ influence over FASB, the professional body that sets accounting standards for U.S. business. The Financial Accounting Foundation, which oversees FASB, has been under pressure from SEC Chairman Arthur Levitt to increase public membership. The foundation said its new public members will include Manuel Johnson, former vice chairman of the Federal Reserve Board; former SEC Chairman David Ruder; and John Biggs, chairman of TIAA-CREF, the activist pension fund.