February 17, 2020

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OCC Issues New Comptroller’s Handbook Sections Relating to Securities Compliance, Litigation and Conflicts of Interest

On January 22, the Office of the Comptroller of the Currency (OCC) issued the “Government Securities Act” booklet of the Comptroller’s Handbook. This new booklet, part of the Securities Compliance series, consolidates certain guidance from the Comptroller’s Handbook for Compliance, “Securities Activities” booklet, issued in September 1991, and the Comptroller’s Handbook booklet “Investment Securities,” issued in March 1990. The new booklet also replaces section 563, “Government Securities Act,” issued in May 1998, as part of the Office of Thrift Supervision (OTS) Examination Handbook for the examination of federal savings associations (FSAs).

On January 16, the OCC issued the “Litigation and Other Legal Matters” booklet of theComptroller’s Handbook. This revised booklet replaces the booklet of the same title issued in February 2000. The revised booklet provides guidance to examiners assessing a bank’s litigation exposures, associated risks and risk management practices.

On January 14, the OCC issued the “Conflicts of Interest” booklet of the Comptroller’s Handbook. This booklet replaces a booklet of the same title issued in June 2000. This booklet, which has been revised to include the supervision of FSAs, provides updated guidance for examiners on risks and expected controls over conflicts of interest that may arise in asset management activities. This booklet also explains the risks inherent in such conflicts and provides frameworks for managing those risks.

Read the “Government Securities Act” booklet here, the “Litigation and Other Legal Matters” booklet here and the “Conflicts of Interest” booklet here.

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About this Author

Christina J. Grigorian, Banking legal Specialist, Katten Muchin Law firm
Special Counsel

Christina J. Grigorian counsels clients in all matters related to banks, bank holding companies, and state and foreign-licensed consumer and commercial lenders. Ms. Grigorian provides advice to the firm’s financial institution clients concerning structural and operational issues, including legislative developments impacting such operations, and has worked with companies and individuals in the establishment of de novo entities, including national banks, federal savings banks and state-chartered institutions, as well as state-licensed lenders. She has also counseled clients with respect to...

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