The Federal Deposit Insurance Corporation (FDIC), the Federal Reserve
Board (FRB), and the Office of the Comptroller of the Currency (OCC) announced
today a new interagency electronic filing system that will allow faster and
easier submission and public retrieval of beneficial ownership reports filed by
directors, officers, and principal shareholders of institutions (insiders) whose
equity securities are registered with the FDIC, the FRB, and the OCC.
The new electronic system, available on July 30, is an important step
in the agencies ongoing efforts to streamline the filing and retrieval of
reports filed with the agencies under the Securities Exchange Act of 1934. It will also reduce burden on insiders who
must file these reports within two business days of completing a transaction in
equity securities of the institution.
Although filing under the new system will be voluntary initially, the
agencies encourage the use of the electronic filing system as soon as
practicable once it becomes available.
The agencies will issue additional guidance making electronic filing of
beneficial ownership reports mandatory, as required by the Sarbanes-Oxley Act
of 2002.
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Attachment
Media Contacts:
Federal Reserve Andrew Williams (202) 452-2955
FDIC David Barr (202) 898-6992
OCC Robert M. Garsson (202) 874-5770