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Can you summarize 3 NYCRR Part 30?
General Regulations of the Superintendent > Insiders' Reports
Short Summary
The provided legal document content pertains to Insiders’ Reports. It governs the requirements for officers of banks or trust companies to file certain information. The information filed under this document is available for public inspection and copying during business hours at the address of the department specified in section 1.1 of Supervisory Policy G1 of the New York Codes, Rules and Regulations (NYCRR) Banking General Regulations of the Superintendent. The document specifies that officers who do not own any equity securities of the bank or trust company are exempt from the requirements. The term ‘officer’ is defined to include various positions such as chairman of the board of directors, president, treasurer, and others who participate in major policymaking functions. However, certain ‘vice presidents’ who do not participate in major policymaking functions may not be considered officers for the purpose of this document. The document also provides instructions for preparing and filing initial statements and statements of changes in the beneficial ownership of equity securities of a bank or trust company. These statements should be filed with the superintendent in accordance with the instructions contained on department Forms BO-1 and BO-2, respectively. No specific penalties or exemptions are mentioned in this document.
Whom does it apply to?
Officers of banks or trust companies
What does it govern?
Insiders' Reports
What are exemptions?
Officers who do not own any equity securities of the bank or trust company
What are the Penalties?
No specific penalties mentioned
Jurisdiction
New York