Laws

12 USC 92a

Employee Retirement Income Security Act of 1974 (ERISA)

The Gramm-Leach-Bliley Act of 1999

Internal Revenue Code Investment Company Act of 1940 (’40 Act)

Securities Act of 1933 (’33 Act)

Securities Exchange Act of 1934 (’34 Act)

Regulations

12 CFR 9, Fiduciary Activities of National Banks

17 CFR 230.132, (’33 Act Rule 132)

17 CFR 270.2a-7 and 3c-4, (‘40 Act Rules 2a-7and 3c-4)

OCC Issuances

Banking Circular 196, “FFIEC Supervisory Policy – Securities Lending” (May 7, 1985)

Banking Circular 233, “Acceptance of Financial Benefits by Bank Trust Departments” (February 3, 1989)

Banking Circular 247, “Application of Securities Laws to Common Trust Funds” (September 12, 1990)

OCC Bulletin 2001-47, “Third-Party Relationships”

OCC Bulletin 2004-2, “Banks/Thrifts Providing Financial Support to Funds Advised by the Banking Organization or its Affiliates”

OCC Interpretive Letter 716, “Valuation Requirements for GICs and SICs held in Collective Funds” (December 21, 1995)

OCC Interpretive Letter 722, “Investment of Collective Fund Assets in Mutual Funds and Receipt of Fees” (March 12, 1996)

OCC Interpretive Letter 829, “Different Fund Management Fees to Collective Fund Participants” (April 9, 1998)

OCC Interpretive Letter 865, “Pooling of Securities Lending Collateral Held Pursuant to Securities Lending Agreements Qualifies for Common Trust Fund Treatment” (May 26, 1999)

OCC Interpretive Letter 884, “Investing Employee Benefit Plan Accounts Held by a National Bank as Directed Agent or Nondiscretionary Custodian in a Collective Fund” (January 13, 2000)

OCC Interpretive Letter 919, “Allocation of Costs by Model-Driven Funds to Participants Admitted to or Withdrawing From Collective Funds” (November 9, 2001)

OCC Interpretive Letter 920, “Frequency of Collective Fund Admissions and Withdrawals” (December 6, 2001)

OCC Interpretive Letter 936, “Limitations on Collective Fund Withdrawals” (May 22, 2002)

OCC Interpretive Letter 969, “Collective Fund Limited to Funds Awaiting Investment or Distribution” (April 28, 2003)

Comptroller’s Handbook Booklets

“Community Bank Supervision”

“Examination Planning and Control”

“Internal and External Audits”

“Internal Control”

“Large Bank Supervision”

“Litigation and Other Legal Matters”

Asset Management Booklets

“Asset Management”

“Conflicts of Interest”

“Investment Management Services”

“Personal Fiduciary Services”

Department of Labor Guidance

Prohibited Transaction Exemption 91-38, “Bank Collective Investment Funds” (November 25, 1991)

IRS Guidance

IRS Revenue Ruling 81-100 (March 30, 1981)

SEC Guidance

In the Matter of Brean Murray & Co., Inc., Securities Exchange Act of 1934, Release No. 51219 and Investment Company Act of 1940, Release No. 26761 (February 17, 2005)

Other Reference Sources

Restatement (Third) of Trusts (1992)

Uniform Common Trust Fund Act (1938) (1952)