OCC Seeks Comment on Custodial Activities Rules

The Office of the Comptroller of the Currency ("OCC") requested feedback on the agency's fiduciary activities rules and a potential rule for non-fiduciary custody activities. According to the advanced notice of proposed rulemaking, the OCC is considering whether to (i) expand the definition of fiduciary capacity to include specific state-recognized trust-related activities and (ii) implement requirements for non-fiduciary custody activities of national banks and federal savings associations.

Comments must be submitted by June 28, 2019.