On September 11, 2020, the SEC issued final rules updating and
codifying the disclosure requirements for banks, domestic and
foreign bank holding companies, savings and loan holding companies
and savings and loan associations ("banking registrants")
set forth in Industry Guide 3, Statistical Disclosure by Bank
Holding Companies.
The final rules, which provide several welcome simplifications
to the disclosure requirements for banking registrants, were
adopted substantially as proposed, although the final rules have
been modified slightly with the intent to reduce the compliance
burden. The SEC also provides certain helpful clarifications in the
adopting release to address commenter concerns.
