Fiduciary Activities of National Banks
This fiduciary training course explains Title 12, Part 9 of the Code of Federal Regulations (12 C.F.R. Part 9), which outlines how the Office of the Comptroller of the Currency (OCC) regulates the fiduciary activities of national banks. It is recommended for all employees of national banks that act in a fiduciary capacity.
Geography Covered: Americas | Duration: 30 minutes
Employees at national banks often carry out actions on behalf of clients, investors, financial consumers, businesses, and other parties. In many of these cases, employees have a fiduciary duty to act in the best interest of the party they are serving.
There are many levels of fiduciary responsibility in the financial services sector, and an employee's duty depends on what their job involves. A fiduciary that fails to fulfill their fiduciary duty could be subject to administrative, regulatory, and criminal sanctions, or civil action by principals who were harmed by the fiduciary's failure – avoiding these consequences can be ensured by going through proper fiduciary training.
It is important that employees recognize what fiduciary duties apply to their role and their bank, and the steps they can take to carry out those duties. Employees who partake in proper fiduciary training courses will be able to assist their bank in putting customers first, satisfying applicable laws and regulations, and avoiding legal, regulatory and reputational damage.
The topics covered in the course include:
- Overview of fiduciary duty
- Fiduciaries and financial services
- Regulation of fiduciary duties
- The OCC
- Scope of 12 C.F.R. Part 9
- Policies and procedures
- Fiduciary accounts
- Fiduciary audit requirements
- Investment of fiduciary funds
- Self-dealing and conflicts of interest
- Managing fiduciary assets
- Considerations for directors
- Considerations for investment advisors
- Considerations for employees
Like with all our courses, the Fiduciary training course was written by experts and powered by world-leading regulatory intelligence, which tracks more than 900 regulators and exchanges globally to ensure the course content is always up to date.
All our training courses are driven by practical examples and interactive scenarios to ensure users truly understand and recognize the issues of most importance to your business and learn to instinctively act to support them.
We employ instructional design techniques optimized for risk and compliance training, enabling your business to educate in a way that reduces risk and helps you build a culture of integrity and compliance.