---
kind: "section"
citation: "12 C.F.R. § 344.9"
title: "12"
number: "344.9"
heading: "Personal securities trading reporting by officers and employees of FDIC-supervised institutions."
url: "https://uscodex.org/cfr/12/344.9"
---

# §344.9. Personal securities trading reporting by officers and employees of FDIC-supervised institutions.

- (a) **Officers and employees subject to reporting.** FDIC-supervised institution officers and employees who:
  - (1) Make investment recommendations or decisions for the accounts of customers;
  - (2) Participate in the determination of such recommendations or decisions; or
  - (3) In connection with their duties, obtain information concerning which securities are being purchased or sold or recommend such action, must report to the FDIC-supervised institution, within 30-calendar days after the end of the calendar quarter, all transactions in securities made by them or on their behalf, either at the FDIC-supervised institution or elsewhere in which they have a beneficial interest. The report shall identify the securities purchased or sold and indicate the dates of the transactions and whether the transactions were purchases or sales.
- (b) **Exempt transactions.** Excluded from this reporting requirement are:
  - (1) Transactions for the benefit of the officer or employee over which the officer or employee has no direct or indirect influence or control;
  - (2) Transactions in registered investment company shares;
  - (3) Transactions in government securities; and
  - (4) **All transactions involving in the aggregate $10,000 or less during the calendar quarter.**
- (c) **Alternative report.** Where an FDIC-supervised institution acts as an investment adviser to an investment company registered under the Investment Company Act of 1940, the FDIC-supervised institution's officers and employees may fulfill their reporting requirement under [paragraph (a)](#a) of this section by filing with the FDIC-supervised institution the “access persons” personal securities trading report required by SEC [Rule 17j-1](/cfr/12/17j-1.md), [17 CFR 270.17j-1](/cfr/17/270.17j-1.md).

## Notes

### Authority

Authority: 12 U.S.C. 1817, 1818, 1819, and 5412.

### Source

Source: 78 FR 76723, Dec. 19, 2013, unless otherwise noted.