Page 19 - November 2017

Servicing of Community and Direct Business 01/02/2017. The proposed rule may be viewed at:
Programs Loans and Grants. Comments are due https://www.gpo.gov/fdsys/pkg/FR-2017-11-
01/08/2018. The notice may be viewed at: 02/pdf/2017-22374.pdf. Federal Register, Vol. 82,
https://www.gpo.gov/fdsys/pkg/FR-2017-11- No. 211, 11/02/2017, 50987-51049.
08/pdf/2017-24244.pdf. Federal Register, Vol. 82,
No. 215, 11/08/2017, 51802-51803. FASB’s Charter is Renewed.

RHS Finalizes Amendments to Financial The Federal Accounting Standards Advisory Board’s
Reporting Requirements. (FASB) charter has been renewed under the
Authority of the Secretary of the Treasury, the
The Rural Housing Service (RHS) revised its existing Director of OMB, and the Comptroller General of the
regulations regarding financial reporting to align United States. The notice may be viewed at:
RHS requirements with those of HUD utilizing a https://www.gpo.gov/fdsys/pkg/FR-2017-10-
risk-based threshold reporting which will reduce the 12/pdf/2017-22075.pdf. Federal Register, Vol. 82,
burden on the borrower to produce multiple financial No. 196, 10/12/2017, 47510.
reports; focus on high-risk properties; and, reduce the
financial cost of reporting on properties. This rule is
effective 11/24/2017. The rule may be viewed at:
https://www.gpo.gov/fdsys/pkg/FR-2017-10- FASB Issues Statement of Federal
25/pdf/2017-23082.pdf. Federal Register, Vol. 82, Financial Accounting Standards 53.
No. 205, 10/25/2017, 49282-49286.
FASB issued Statement of Federal Financial
Accounting Standards 53, Budget and Accrual
CFTC Establishes a New De Minimis Reconciliation. The Statement is available on the
Threshold Phase-In Termination Date. FASB website at: http://www.fasab.gov/accounting-
standards/. The notice may be viewed at:
The Commodity Futures Trading Commission https://www.gpo.gov/fdsys/pkg/FR-2017-11-
(CFTC) issued an order establishing 12/31/2019 as 01/pdf/2017-23801.pdf. Federal Register, Vol. 82,
the new de minimis threshold phase-in termination No. 210, 11/01/2017, 50650.
date. The order may be viewed at:
https://www.gpo.gov/fdsys/pkg/FR-2017-10- NCUA Finalizes Rule on Appeals
31/pdf/2017-23660.pdf. Federal Register, Vol. 82, Procedures.
No. 209, 10/31/2017, 50309-50311.
The National Credit Union Administration (NCUA)
SEC Proposes Amendments to finalized a rule to establish procedures to govern
appeals to the NCUA Board. The rule establishes a
Regulation S-K. uniform procedure that will apply to agency
regulations that currently have their own embedded
The Securities and Exchange Commission (SEC) appeals provisions. Accordingly, the final rule will
proposed amendments to Regulation S-K to replace those current provisions. The procedures will
modernize and simplify certain disclosure apply in cases in which a decision rendered by a
requirements in a manner that reduces the costs and regional director or other program office director is
burdens on registrants while continuing to provide all subject to appeal to the NCUA Board. The final rule
material information to investors. The amendments is effective 01/01/2018. The notice may be viewed at:
are also intended to improve the readability and https://www.gpo.gov/fdsys/pkg/FR-2017-10-
navigability of disclosure documents and discourage 30/pdf/2017-23211.pdf. Federal Register, Vol. 82,
repetition and disclosure of immaterial information. No. 208, 10/30/2017, 50288-50297.
To provide for a consistent set of rules to govern
incorporation by reference and hyperlinking, SEC is NCUA Finalizes Rule on Supervisory
also proposing parallel amendments to several rules
and forms applicable to investment companies and Review Committee Procedures.
investment advisers, including proposed amendments
that would require certain investment company NCUA finalized regulatory procedures for appealing
filings to be submitted in HyperText Markup material supervisory determinations to NCUA’s
Language (HTML) format. Comments are due Supervisory Review Committee (SRC). The
procedures expand the number of material

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