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Securities of Nonmember Insured Banks

FDIC · final-rule · Published 2004-10-06 · Effective 2004-10-06 · 69 FR 59780

Document

Document number
04-22384
Federal Register citation
69 FR 59780
CFR reference
12 CFR 335
Type
Rule
Action
Final rule.
Category
final-rule
Agency
US Federal Deposit Insurance Corporation
Publication date
2004-10-06
Effective date
2004-10-06

Abstract

The FDIC is adopting a final rule, unchanged from an interim final rule published on April 12, 2004 in the Federal Register (see 69 FR 19085), which confirms amendments to its securities disclosure regulations applicable to banks with securities registered under section 12 of the Securities Exchange Act of 1934 (Exchange Act). These amendments implemented the requirements of the Exchange Act, as amended by the Sarbanes-Oxley Act of 2002, which mandates electronic filing of reports related to beneficial ownership of securities by the directors, executive officers, and principal shareholders of public companies. Prior to issuance of the interim final rule, the FDIC's securities disclosure regulations prohibited electronically transmitted filings or submissions of materials in electronic format to the FDIC. The amended rules provide an exception to this prohibition, requiring electronically transmitted filings of beneficial ownership reports by bank directors, officers, and principal shareholders to disclose securities transactions and ownership. Related technical or procedural provisions were also amended as appropriate.

Source

Authoritative
Federal Register document
Machine
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