On Oct. 11, RUS CB proposed rules for insurance broker reporting.
RUS CB proposed ordinance on the forms, deadlines, and procedure for the preparation and submission of statistical reporting by insurance brokers to RUS CB.
Consultation documents are only available on RUS CB website until comment deadline.
Summary
The ordinance will replace ord 5522-Uon the forms, deadlines, and procedure for the preparation and submission of statistical reporting by insurance brokers to RUS CB.
The ordinance was developed order to implement the proposals from the structural units of RUS CB regarding changes to the statistical reporting of insurance brokers.
It also stipulates insurance brokers should submit a new version of reporting form 0420108 information about the audit organization or individual auditor in XBRL format.
In addition, due to the entry into force of reg 803-P On the Chart of Accounts for Accounting by Non-Banking Financial Organizations, Credit History Bureaus, Credit Rating Agencies, and the Procedure for Its Application on Jan. 1, 2025.
Due to this all references to regulations 486-P and 487-P are replaced with reg 803-P.
The accompanying information for statistical reporting has been supplemented with indicators that reflect the name of the software used to generate the report file.
As well as the email address of the official responsible for preparing the report.
Certain indicators, groups of analytical attributes, and analytical attributes of reporting and their codes were adjusted due to refinement of RUS CB's XBRL taxonomy.
Effectiveness
Comments and feedback are expected by Oct. 25, 2023 and the ordinance is expected to enter into force on Jan. 1, 2025.
Nov. 2024 Ord Issued
On Nov. 6, 2024, RUS CB issued ord 6795-U on the forms, deadlines, and procedure for the preparation and submission of statistical reporting by insurance brokers to RUS
It is effective on Jan. 1, 2025 and invalidates ord 5522-U from date of entry into force.
In Nov. 25, 2024, RUS CB proposed amending ordinance 6795-U, see rule #234697.
Regulators
RUS CB
Entity Types
Auditor; B/D; Bank; Ins
Reference
PR 11/6/2024; Ord 6795-U, 7/28/2024; CP, 10/11/2023; 5522-U, 8/3/2022;
