Sarbanes-Oxley and FDIC laws overlap

REGULATORY UPDATE

WASHINGTON, DC -- A final rule issued by the US Federal Reserve, designed to tailor Sarbanes-Oxley for banks, seems to clash with existing Federal Deposit Insurance Corporation (FDIC) rules. The new rule gives the Fed authority to enforce the enhanced disclosure and corporate governance requirements applied by the Sarbanes-Oxley Act to banks that hold a class of securities registered under the Securities and Exchange Act of 1934. However, the rules seem to conflict with the Federal Deposit I

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