Retail Nondeposit Investment Products: Revised Comptroller’s Handbook Booklet and Rescissions

Summary

The Office of the Comptroller of the Currency (OCC) today issued version 2.0 of the “Retail Nondeposit Investment Products” booklet of the Comptroller’s Handbook. This booklet discusses risks and risk management practices associated with the recommendation or sale of nondeposit investment products to retail customers. This booklet also provides examiners with a framework for evaluating a bank’s¹ retail nondeposit investment product program.

Rescissions

The revised booklet replaces version 1.0 of the booklet with the same title issued January 2015. Also rescinded is OCC Bulletin 2015-2, “Retail Nondeposit Investment Products: Revised Comptroller's Handbook Booklet and Rescissions.”

Highlights

The revised booklet

• incorporates significant regulatory changes adopted in the U.S. Securities and Exchange Commission’s Regulation Best Interest that may relate to banks' securities activities.
• reflects OCC and interagency issuances that have been published or rescinded since January 2015.
• provides further clarity regarding sound risk management practices and guidance to examiners.
• includes other minor updates for general clarity.

Refer to the “Foreword” booklet of the Comptroller’s Handbook for an overview of the OCC’s process for updating and fully revising Comptroller’s Handbook booklets.

Further Information

Please contact Chizoba Egbuonu, Director for Asset Management, at (202) 649-6360.

Grovetta N. Gardineer
Senior Deputy Comptroller for Bank Supervision Policy

Related Link

• “Retail Nondeposit Investment Products”