KPMG reports on changes made to Guide 3 in a new subpart of 1400 Regulation S-K.
The final rule updates and expands the statistical disclosures under Guide 3 that bank and savings and loan registrants provide to investors and further eliminates certain disclosure requirements that are duplicative of other SEC rules and requirements of US GAAP or IFRS.
Since the last substantive revision to Guide 3 in 1986, the SEC has adopted disclosure requirements, and the FASB and the International Accounting Standards Board have issued accounting standards that have changed the financial reporting obligations for registrants engaged in material lending and deposit activities.
Hot Topic: Guide 3
SEC finalizes rule to streamline bank disclosures
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