SEC Closes Enforcement Meeting; FDIC and OCC Seek Comments on Banking Information Collections

SEC Closed Meeting on Enforcement and Litigation

The Securities and Exchange Commission announced a closed meeting scheduled for 2:00 p.m. on Thursday, September 10, 2026, to be held via remote means and at the Commission's headquarters at 100 F Street NE, Washington, DC 20549. The meeting will be closed to the public. According to the notice, attendees will include Commissioners, Counsel to the Commissioners, the Secretary to the Commission, and recording secretaries, with certain staff members who have an interest in the matters also permitted to be present.

The subject matter of the closed meeting consists of the following topics: institution and settlement of injunctive actions; institution and settlement of administrative proceedings; resolution of litigation claims; and other matters relating to examinations and enforcement proceedings. The Commission's General Counsel, or his designee, certified that one or more of the exemptions set forth in 5 U.S.C. 552b(c)(3), (5), (6), (7), (8), 9(B) and (10) and 17 CFR 200.402(a)(3), (a)(5), (a)(6), (a)(7), (a)(8), (a)(9)(ii) and (a)(10) permit consideration of the scheduled matters at the closed meeting. The notice states that changes in Commission priorities may require alterations in the scheduling of agenda items, which may consist of adjudicatory, examination, litigation, or regulatory matters. Further information is available from Vanessa A. Countryman of the Office of the Secretary at (202) 551-5400.

FDIC: Insurance Sales and Reverse Mortgage Disclosure Renewals

The Federal Deposit Insurance Corporation published a notice and request for comment on the proposed renewal of two existing information collections under the Paperwork Reduction Act of 1995. Notices of proposed renewal were previously published in the Federal Register on July 2, 2026, allowing for a 60-day comment period, and no comments were received. Comments on the current renewal must be submitted on or before October 8, 2026.

The first collection (OMB Control No. 3064-0140), titled "Insurance Sales Consumer Protections," applies to insured state nonmember banks and savings associations that sell insurance products, and to persons who sell insurance in or on behalf of such institutions. Under 12 CFR part 343, respondents must provide disclosures to consumers that insurance products and annuities are not FDIC insured and must obtain consumer acknowledgments. The disclosures are required before the completion of the initial sale of an insurance product or annuity and, when applicable, at the time of application for an extension of credit if insurance products or annuities are sold, solicited, advertised, or offered in connection with that extension of credit. The FDIC reports no change in the substance or methodology of this collection. The estimated annual burden has decreased by 835 hours, from 5,505 hours in 2023 to 4,670 hours currently; the agency attributes this decrease to a reduction in the estimated number of respondents, noting that the estimated time per response remains unchanged.

The second collection (OMB Control No. 3064-0176), titled "Reverse Mortgage Products," applies to insured state nonmember banks and state savings associations making reverse mortgages, governed by 12 CFR part 365. The FDIC likewise reports no change in the substance or methodology of this collection. The estimated annual burden has increased by 64 hours, from 280 hours in 2024 to 344 hours currently, due to an increase in the number of respondents to the implementation component, only partially offset by a decrease in the ongoing component.

OCC: Basel II Pillar 2 Capital Adequacy Guidance Renewal

The Office of the Comptroller of the Currency, under the Treasury Department, is soliciting comment on the renewal of its information collection titled "Supervisory Guidance: Supervisory Review Process of Capital Adequacy (Pillar 2) Related to the Implementation of the Basel II Advanced Capital Framework" (OMB Control No. 1557-0242), and has submitted the collection to OMB for review. Comments must be received by October 8, 2026. A 60-day notice for this collection was published on June 12, 2026, at 91 FR 35794, and no comments were received.

The notice explains that in 2008, the OCC, the Board of Governors of the Federal Reserve System, and the FDIC issued a supervisory guidance document to assist banking organizations in implementing the supervisory review process, or Pillar 2, of the advanced approaches risk-based capital rule (73 FR 44620, July 31, 2008). The guidance is relevant for OCC-supervised national banks and Federal savings associations subject to the advanced approaches capital rule under 12 CFR 3.100(b), and does not apply to small banks. Paragraphs 37, 41, 43, and 46 of the guidance contain the information collections at issue: banks must clearly state and document their internal definition of capital, maintain thorough documentation of their internal capital adequacy assessment process (ICAAP), obtain board of directors approval of the ICAAP and any changes to it, and have the board periodically — and at least annually — review overall capital adequacy and analyze how measures of internal capital adequacy compare with regulatory or accounting measures. The OCC estimates 16 respondents, with an estimated burden of 140 hours per respondent and an estimated total annual burden of 2,240 hours.

What to Watch

Comments on both the FDIC's insurance sales and reverse mortgage collections (OMB Control Nos. 3064-0140 and 3064-0176) and the OCC's Basel II Pillar 2 capital adequacy collection (OMB Control No. 1557-0242) must be submitted or received on or before October 8, 2026.

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