| Notice Filed with SOS |
02/25/2025 |
| Rule |
ProposedRuleAttach2025-00060.pdf
|
| Additional Information |
AddInfoAttach2025-00060.pdf
|
| Statutory Authority |
TC7 - Section 11-109-402, C.R.S.
TC9 - Section 11-109-902(5), C.R.S.
TC19 - Section 11-109-902(5), C.R.S.
TC29 - Section 11-109-402(4)(c), C.R.S. |
| Description of Subjects/Issues |
The Division of Banking (Division) proposes rulemaking for 3 CCR 701-6 to promulgate a new rule to require an audit of fiduciary activities. Additionally, the Division proposes to amend three rules to make grammatical and technical changes, establish additional requirements and/or clarify current requirements, incorporate by reference applicable and comparable federal regulations, and modernize and align rules with federal standards and regulations. The incorporated material is available at https://banking.colorado.gov/banking-home/rules-statutes. Additional information for each Rule is included in the attached Basis and Purpose documents. |
| Purpose/Objective of Rule |
The purpose of this rule is to require banks to prepare financial statements in accordance with generally accepted accounting principles except where the banking board may allow banks to deviate from such principles in order to establish regulatory and competitive parity. |
| Basis And Purpose |
BasisAndPurposeAttachment2025-00060.pdf
|
| Submitted in response to issues raised by COLS/OLLS? |
No
|
| Is this rule adopted in response to recent legislation? |
No
|
| Hearing Date |
04/17/2025 |
| Hearing Time |
10:00 AM |
| Hearing Location |
1560 Broadway, Suite 100D, Denver, Colorado |
| Contact Name |
Charles Siler |
| Contact Title |
Banking Board Administrator |
| Contact Telephone |
3038947584 |
| Contact email |
charles.siler@state.co.us |