We have examiners that are saying that we are required to send confirmations to discretionary fiduciary account holders. The trade confirmations include all customers' trades. How are other trust depts doing this?

We send trade advices and confirmation on any account where the bank does not have discretionary authority. This would include any custodial or trust account where the bank does not have the authority to make investment decisions. Our system has a coding field where we can populate with a "Y" or a "N" on whether advices and confirms are printed automatically to whoever has been identified as the powerholder for the respective account.