§ 344.8. Securities trading policies and procedures.
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/us/cfr/t12/s§ 344.8·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Policies and procedures. Every FDIC-supervised institution effecting securities transactions for customers shall establish written policies and procedures providing:
(1)Assignment of responsibility for supervision of all officers or employees who:
(i)Transmit orders to or place orders with broker/dealers; or
(ii)Execute transactions in securities for customers;
(2)Assignment of responsibility for supervision and reporting, separate from those in paragraph (a)(1) of this section, with respect to all officers or employees who process orders for notification or settlement purposes, or perform other back office functions with respect to securities transactions effected for customers;
(3)For the fair and equitable allocation of securities and prices to accounts when orders for the same security are received at approximately the same time and are placed for execution either individually or in combination; and
(4)Where applicable, and where permissible under local law, for the crossing of buy and sell orders on a fair and equitable basis to the parties to the transaction.
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§ 344.8
Securities trading policies and procedures.
Fed. Reg.×4
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