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Comment Period: FDIC Issues Proposed Rule to Rescind and Remove Transferred OTS Securities Offerings Regulations

FDIC issued a proposed rule to streamline FDIC regulations and guidance to rescind and remove from the Code of Federal Regulations rules entitled, Securities Offerings, that were transferred to FDIC from the Office of Thrift Supervision (OTS) on 07/21/2011, in connection with implementation of Title III of the Dodd-Frank Act. FDIC also proposed to rescind its Statement of Policy Regarding the Use of Offering Circulars in Connection with the Public Distribution of Bank Securities, which provides a guide for a state nonmember banks and other institutions in the preparation of offering circulars. At the same time, FDIC has also proposed a new regulation regarding securities disclosures to be made by state nonmember banks and state savings associations (FDIC-supervised institutions). In so doing, FDIC would create a unified scheme for securities disclosure requirements applicable to FDIC-supervised institutions. The proposal also would include technical amendments to update related regulations. Read more here.

  • April 5, 2021
  • Time: All Day