Collective Investment Funds
Introduction
Background
Regulatory Overview
12 CFR 9.18
Federal Tax Laws
Federal Securities Laws
ERISA
Risks
Compliance Risk
Transaction Risk
Strategic Risk
Reputation Risk
Risk Management
Board and Management Supervision
Policies and Procedures
Fund Administration
Review of Participating Accounts
Internal Controls
Securities Lending
Fund Termination
Recordkeeping and Reporting
Periodic Account Reviews (Investment Reviews)
Audit and Compliance Monitoring
Management Information Systems
Examination Procedures
Quantity of Risk
Quality of Risk Management
Examination Conclusions
Appendix A: Types of Collective Investment Funds
A1 and A2 Funds
Other Collective Investments – 9.18(c) Funds
Single Loans or Obligations
Mini-funds
Trust Funds of Corporations and Closely-related Entities
Other Authorized Funds
Special Exemption Funds
Other Commingled Funds
Appendix B: 12 CFR 9.18(b), Administrative Requirements
Written Plan – 9.18(b)(1)
Fund Management – 9.18(b)(2)
Proportionate Interests – 9.18(b)(3)
Valuation – 9.18(b)(4)
Admission and Withdrawal of Accounts – 9.18(b)(5)
Audits and Financial Reports – 9.18(b)(6)
Advertising Restriction – 9.18(b)(7)
Self-Dealing and Conflicts of Interest – 9.18(b)(8)
Management Fees and Expenses – 9.18(b)(9) and 9.18(b)(10)
Prohibition Against Certificates – 9.18(b)(11)
Good Faith Mistakes – 9.18(b)(12)
Appendix C: Collective Investment Funds and the ‘40 Act
Appendix D: Specialized Collective Investment Funds
References
Collective Investment Funds