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Can you summarize 12 CFR 9.2?
Regulations > Definitions.
Short Summary
This document provides definitions related to the fiduciary activities of national banks. It defines terms such as ‘affiliate’, ‘applicable law’, ‘custodian under a uniform gifts to minors act’, ‘fiduciary account’, ‘fiduciary capacity’, ‘fiduciary officers and employees’, ‘fiduciary powers’, ‘guardian’, ‘investment discretion’, ’trust office’, and ’trust representative office’. The document also clarifies the activities that fall under the definition of ’trust office’ and ’trust representative office’. It is applicable to national banks and their officers and employees involved in fiduciary activities. The document does not mention any specific exemptions or penalties.
Whom does it apply to?
National banks and their officers and employees
What does it govern?
Definitions related to fiduciary activities of national banks
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
U.S. Federal Government