Michael Rapoport reports: The Financial Accounting Standards Board is meeting Thursday morning on proposed moves to soften controversial "mark-to-market" accounting rules, but the board hasn't yet voted on the measures - contrary to some reports.

"They have not acted yet," FASB spokesman Neal McGarity said in an email message.

The board has discussed a variety of incremental issues regarding its proposals and agreed informally on some tweaks to its plans, like removing a presumption that transactions in an inactive market are distressed until they're proven to be otherwise.

But the board's overall vote on its proposals hasn't occurred but it is expected later this morning.

The meeting is being webcasted.

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