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Title 12: Banks and Banking
CHAPTER I: COMPTROLLER OF THE CURRENCY, DEPARTMENT OF THE TREASURY
PART 9: FIDUCIARY ACTIVITIES OF NATIONAL BANKS
: Regulations
9.6 - Review of fiduciary accounts.
(a) Pre-acceptance review. Before accepting a fiduciary account, a national bank shall review the prospective account to determine whether it can properly administer the account.
(b) Initial post-acceptance review. Upon the acceptance of a fiduciary account for which a national bank has investment discretion, the bank shall conduct a prompt review of all assets of the account to evaluate whether they are appropriate for the account.
(c) Annual review. At least once during every calendar year, a bank shall conduct a review of all assets of each fiduciary account for which the bank has investment discretion to evaluate whether they are appropriate, individually and collectively, for the account.
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