OCC Updates Bank Examiner Handbook on "Retail Nondeposit Investment Products"

The Office of the Comptroller of the Currency ("OCC") revised the Comptroller's Handbook on the "regulatory requirements that apply directly to banks in conducting [retail nondeposit investment product] RNDIP sales activities."

The OCC updated booklet provides guidance for bank examiners on activities involving recommendations of RNDIP, incorporating regulatory changes, such as SEC Regulation Best Interest. The Handbook also provides an overview of the various types of risks associated with the sale by banks of securities products to retail investors.