---
kind: "section"
citation: "12 C.F.R. § 1233.3"
title: "12"
number: "1233.3"
heading: "Reporting."
url: "https://uscodex.org/cfr/12/1233.3"
---

# §1233.3. Reporting.

- (a) **Timeframe for reporting.**
  - (1) A regulated entity shall submit to the Director a timely written report upon discovery by the regulated entity that it has purchased or sold a fraudulent loan or financial instrument, or suspects a possible fraud relating to the purchase or sale of any loan or financial instrument.
  - (2) In addition to submitting a report in accordance with [paragraph (a)(1)](#a-1) of this section, in any situation that would have a significant impact on the regulated entity, the regulated entity shall immediately report any fraud or possible fraud to the Director by telephone or electronic communication.
- (b) **Format for reporting.**
  - (1) The report shall be in such format and shall be filed in accordance with such procedures that the Director may prescribe.
  - (2) The Director may require a regulated entity to provide such additional or continuing information relating to such fraud or possible fraud that the Director deems appropriate.
  - (3) A regulated entity may satisfy the reporting requirements of this section by submitting the required information on a form or in another format used by any other regulatory agency, provided it has first obtained the prior written approval of the Director.
- (c) **Retention of records.** A regulated entity or entity-affiliated party shall maintain a copy of any report submitted to the Director and the original or business record equivalent of any supporting documentation for a period of five years from the date of submission.
- (d) **Nondisclosure.**
  - (1) A regulated entity or entity-affiliated party may not disclose to any person that it has submitted a report to the Director pursuant to this section, unless it has first obtained the prior written approval of the Director.
  - (2) **The restriction in paragraph (d)(1) of this section does not prohibit a regulated entity from—**
    - (i) Disclosing or reporting such fraud or possible fraud pursuant to legal requirements, including reporting to appropriate law enforcement or other governmental authorities; or
    - (ii) Taking any legal or business action it may deem appropriate, including any action involving the party or parties connected with the fraud or possible fraud.
- (e) **No waiver of privilege.** A regulated entity does not waive any privilege it may possess under any applicable law as a consequence of reporting fraud or possible fraud under this part.

## Notes

### Authority

Authority: 12 U.S.C. 4511, 4513, 4514, 4526, 4642.

### Source

Source: 75 FR 4258, Jan. 27, 2010, unless otherwise noted.