Prohibited financial interests.

CFR · 2024-01-01 · US · Title 5

(a) (1) An entity supervised by the Bureau; or (2) A collective investment fund that has a stated policy of concentrating its investments in the financial services or banking industry. A collective investment fund includes, without limitation, mutual funds, unit investment trusts (UITs), exchange traded funds (ETFs), real estate investment trusts (REITs), and limited partnerships. (b) (1) (i) The fund does not have a stated policy of concentrating its investments in the financial services or banking industry; and (ii) Neither the employee nor the employee's spouse or minor child exercises or has the ability to exercise control over or selection of the financial interests held by the fund. (2) (i) The employee plan does not have a stated policy of concentrating its investments in any industry, business, single country other than the United States, or bonds of a single State within the United States; (ii) The investments of the employee plan are administered by an independent trustee; (iii) The employee plan's trustee has a written policy of varying the plan investments; (iv) Neither the employee nor the employee's spouse or minor child participates in the selection of the employee plan's investments or designates specific plan investments (except for directing that contributions be divided among several different categories of investments, such as stocks, bonds, or mutual funds, which are available to plan participants); and (v) The employee plan is not a profit-sharing or sto

official document · source cfr-2024 · id 5:§ 9401.106