§150.390. May my officer or employee retain compensation for acting as a co-fiduciary?
12 C.F.R. § 150.390
You may not permit your officers or employees to retain any compensation for acting as a co-fiduciary with you in the administration of a fiduciary account, except with the specific approval of your board of directors.
Notes, amendments, and revision history
Authority
Authority: 12 U.S.C. 1462a, 1463, 1464, 5412(b)(2)(B).
Source
Source: 76 FR 49003, Aug. 9, 2011, unless otherwise noted.