Browsing: Investment

Compliance and Risk

In a letter to the OCC yesterday, the American Bankers Association offered support for guidance issued by the agency in March aimed at providing additional flexibility to the rules governing short-term investment funds—bank-managed funds for fiduciary clients that are similar to money market mutual funds.

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The Office of the Comptroller of the Currency has adopted an interim final rule, effective immediately, to revise its short-term investment fund rule for national banks acting in a fiduciary capacity.

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In a comment letter to the FDIC on Monday, the American Bankers Association offered support for the Securities and Exchange Commission’s proposal to amend the definition of “accredited investor” under Regulation D and “qualified institutional buyer” definition under Rule 144A.