Securities trading policies and procedures.

CFR · 2024-01-01 · US · Title 12

(a) (1) Assign responsibility for supervision of all officers or employees who: (i) Transmit orders to or place orders with registered broker/dealers; (ii) Execute transactions in securities for customers; or (iii) Process orders for notification or settlement purposes, or perform other back office functions with respect to securities transactions effected for customers. Policies and procedures for personnel described in this paragraph (a)(1)(iii) must provide for supervision and reporting lines that are separate from supervision and reporting lines for personnel described in paragraphs (a)(1) (i) and (ii) of this section; (2) Provide for the fair and equitable allocation of securities and prices to accounts when the bank receives orders for the same security at approximately the same time and places the orders for execution either individually or in combination; (3) Provide for the crossing of buy and sell orders on a fair and equitable basis to the parties to the transaction, where permissible under applicable law; and (4) Require bank officers and employees to report to the bank, within the deadline specified in SEC rule 17j-1 (17 CFR 270.17j-1) for quarterly transaction reports, all personal transactions in securities made by them or on their behalf in which they have a beneficial interest, if the officers and employees: (i) Make investment recommendations or decisions for the accounts of customers; (ii) Participate in the determination of the recommendations or decisions

official document · source cfr-2024 · id 12:§ 12.7