The Trust Regulatory HandbookThe regulations governing trust departments and services continue to become more complex. The OCC rewrote Regulation 9 and savings associations are expanding their trust departments. This handbook offers the most up-to-date information on the duties and responsibilities of directors and administrators of: personal and corporate trusts; employee benefit and retirement plans; shareholder services; international trusts; trust department operations; portfolio investment and management, and trust department audits and regulatory examinations. |
Common terms and phrases
adequate administration affiliate agency agreement appropriate audit committee auditors authorized Bank Secrecy Act bank's fiduciary beneficiaries bonds broker broker-dealer business days cash certificates co-fiduciary collateral collective investment fund common trust fund compliance conflicts of interest corporate court coverage custodial defined Defined contribution plans depository depository participants deposits determine dividend duties employee benefit plan ensure ERISA established Exchange exemption federal fees fiduciary account fiduciary activities functions governing instrument income indenture institution internal audit Internal Revenue Code Internal Revenue Service issued issuer liability loan maintained ment monitor mutual fund number of shares operations party-in-interest performance persons policies and procedures portfolio PricewaterhouseCoopers principal purchase received records registered registrar Regulation 9 repurchase agreements requirements responsibilities risk management SEC Rule Section securities lending shareholder specific tion trade trust account trust assets trust department trust instrument turnaround
Popular passages
Page 118 - ... carrier": Provided, however, That securities held by trustees of debt-redemption and other funds shall be regarded and treated as actually outstanding. "Affiliate" means (and "affiliated" relates to) a "person" that, directly, or indirectly through one or more intermediaries, "controls," is "controlled by," or is "under common control with,
Page 42 - ... in any transaction involving the plan on behalf of a party (or representing a party) whose interests are adverse to the interests of the plan or the interests of its participants or beneficiaries...
Page 149 - Board will give appropriate consideration to all relevant circumstances, including evidence bearing on all relationships between the accountant and that person or any affiliate thereof, and will not confine itself to the relationships existing in connection with the filing of reports with the Board.
Page 138 - ... stock bonus, pension, or profit-sharing plan which meets the requirements for qualification under section 401 of the Internal Revenue Code of 1954, or...
Page 20 - Corporations, and any community chest, fund, or foundation, organized and operated exclusively for religious, charitable, scientific, testing for public safety, literary, or educational purposes, or for the prevention of cruelty to children or animals...
Page 140 - ... (C) such transaction is expressly permitted by the instrument under which the plan is maintained, or by a fiduciary (other than the bank, trust company, or insurance company, or an affiliate thereof) who has authority to manage and control the assets of the plan. (9) The making by a fiduciary of a distribution of the assets of the plan in accordance with the terms of the plan if...
Page 54 - Presidential message urging that there be added to the ancient rule of caveat emptor the further doctrine of 'let the seller also beware', Congress passed the Securities Act of 1933. Designed to protect investors, the Act requires issuers, underwriters, and dealers to make full and fair disclosure of the character of securities sold in interstate and foreign commerce and to prevent fraud in their sale . . ." The preamble of the Securities Act of 1933, 48 Stat.
Page 138 - ... any common trust fund or similar fund maintained by a bank exclusively for the collective investment and reinvestment of moneys contributed thereto by the bank in its capacity as a trustee, executor, administrator, or guardian...