Comments due on OCC ANPR on fiduciary activities rules

The OCC has published an Advance Notice of Proposed Rulemaking inviting comment on its fiduciary activities rules and a potential rule for non-fiduciary custody activities of national banks, Federal savings associations, and Federal branches of foreign banks. Specifically, the OCC is considering an amendment to its fiduciary rule to update the definition of fiduciary capacity to include certain State recognized trust-related activities. The OCC also is considering issuing a regulation that would establish certain basic requirements for non-fiduciary custody activities of national banks and Federal savings associations.

• Comments are due by June 28, 2019.
• 84 FR 17967