On Mar. 1, RUS CB proposed rules for correcting accounting errors.
RUS CB developed draft ordinance on procedure for reflecting corrections of errors by non-banking financial organizations, credit history bureaus, and credit rating agencies.
Consultation documents are only available on RUS CB website until comment deadline.
The ord was developed to establish the procedure for reflecting corrections of errors by non-banking financial organizations, credit history bureaus, and credit rating agencies.
Effectiveness
Comments and feedback are expected by Mar. 14, 2024.
The ordinance is expected to enter into force on Jan. 1, 2025 and from the date of entry into force reg 523-P on procedure for correcting errors in accounting and financial reporting by non-banking financial organizations is declared as invalid.
In Aug. 2024 RUS CB proposed ord invalidating certain regulatory acts, see #221981.
Nov. 2024 Ord Issued
On Nov. 18, 2024, RUS CB issued ord 6891-U on procedure for reflecting corrections of errors by non-banking financial organizations, credit history bureaus, and credit rating agencies in force on Jan. 1, 2025.
Regulators
RUS CB
Entity Types
Auditor; CRA; CRB; MSB
Reference
PR 11/18/2024, Ord 6891-U,10/2/2024; CP, 3/1/2024; Reg 523-P, 12/28/2015;
