FDIC Amends Regulation Governing Securities Transactions by Bank Officers

The FDIC's amendment to Section 344.9(a)(3) of its regulations extends the deadline for providing quarterly reports of personal secruities transactions from 10 business days to 30 calendar days after the end of the calendar quarter.  Under the rule officers and employees who, in connection with their duties, obtain information concerning securities in which they have an interest must report all of his or her securities transactions to the bank.  See FDIC Release.

The rule became effective on Monday, November 26, 2007.