Prohibition on acquisition, ownership, or control of securities of FDIC-insured depository institutions and certain holding companies.

CFR · 2024-01-01 · US · Title 5

(a) (1) A bank or savings association that is insured by the Federal Deposit Insurance Corporation (FDIC); (2) A bank holding company that is subject to supervision by the Federal Reserve Board (FRB); (3) A savings and loan holding company that is subject to supervision by the Office of Thrift Supervision (OTS); (4) A financial holding company that is subject to FRB supervision; or (5) A company that: (i) Owns or controls an FDIC-insured bank or savings association; (ii) Is neither an FRB-supervised bank holding company, an OTS-supervised savings and loan holding company, nor an FRB-supervised financial holding company; and (iii) Is either primarily engaged in banking or not publicly traded on a U.S. securities exchange. (b) (1) Acquire, own, or control the securities of a unitary thrift holding company ( (2) Own or control a security of an entity described in paragraph (a) of this section if the security was permitted to be retained by the employee under 12 CFR part 336 prior to May 25, 1995, was obtained prior to commencement of employment with the Corporation, or was acquired by a spouse prior to marriage to the employee; (3) Own, or control a security of an entity described in paragraph (a) of this section if: (i) The security was acquired by inheritance, gift, stock-split, involuntary stock dividend, merger, acquisition, or other change in corporate ownership, exercise of preemptive right, or otherwise without specific intent to acquire the security, or, by an employee's

official document · source cfr-2024 · id 5:§ 3201.103