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2013-01-31 — washingtonpost.com
About 100 small banks have stopped reporting financial details about their operations to the Securities and Exchange Commission since April, when a law was enacted that aimed to lower the regulatory burdens for small companies.
For nearly five decades, securities law allowed banks with fewer than 300 shareholders to "deregister" -- meaning they could stop reporting to the SEC their revenue, expenses, executive compensation and trends affecting their businesses, among other things.
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