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TREAS/OCC

RIN: 1557-AB63

Publication ID: Spring 1998

Title: Fiduciary Activities of National Banks
Abstract: The OCC is proposing to add an interpretive ruling to 12 CFR Part 9, governing national banks' fiduciary activities. This interpretive ruling would codify OCC Interpretive Letter #769 (January 28, 1997), which clarifies the types of investment advisory activities that part 9 covers. Generally, the term "investment adviser," as used in part 9, means a national bank providing advice or recommendations concerning the purchase or sale of specific securities, such as a bank engaged in portfolio advisory and management activities.
Agency: Department of the Treasury(TREAS)	Priority: Substantive, Nonsignificant
RIN Status: Previously published in the Unified Agenda	Agenda Stage of Rulemaking: Completed Actions
Major: No	Unfunded Mandates: No
CFR Citation: 12 CFR 9
Legal Authority: 12 USC 92a 12 USC 93a

Timetable:

Action	Date	FR Cite
NPRM	07/09/1997	62 FR 36746
Final Action	02/09/1998	63 FR 6472
Final Action Effective	03/11/1998	63 FR 6472

Regulatory Flexibility Analysis Required: No	Government Levels Affected: None
Included in the Regulatory Plan: No
Agency Contact: Andrew Gutierrez Attorney Department of the Treasury Comptroller of the Currency Legislative and Regulatory Activities, Division, 250 E Street SW, Washington, DC 20219 Phone:202 874-5090 Email: andrew.gutierrez@occ.treas.gov