The Menoza College of Business of the University of Notre Dame held a conference on securities market regulation on 23-24 April 2009. On the second day, NERA Vice President Dr. Sharon Brown-Hruska delivered a presentation on financial disclosure and market transparency. Dr. Brown-Hruska also discussed "Market Pricing of Banks' Fair Value Assets Reported Under SFAS 157 During the 2008 Economic Crisis," a paper by Dr. Jeffrey Ng of the MIT Sloan School of Management, and Kevin Ow Yong and Beng Wee Goh of Singapore Mangement University. Their paper presents evidence on how investors priced fair value assets reported by banks under SFAS 157 in 2008.