OCC Renews Rules for Bank Securities Transaction Records
Published Date: 4/30/2026
Notice
Summary
The Office of the Comptroller of the Currency (OCC) is renewing its paperwork rules for keeping records of securities transactions. This affects banks and financial firms who must keep these records up to date. They’re asking for public comments by June 1, 2026, to make sure the rules stay clear and not too burdensome, helping everyone stay on the same page without extra hassle or cost.
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Analyzed Economic Effects
3 provisions identified: 1 benefits, 2 costs, 0 mixed.
Three-year recordkeeping duty for banks
National banks and Federal savings associations that effect securities transactions must keep transaction records for at least three years. The OCC estimates this collection covers 306 respondents and totals 1,497 hours of annual burden for those institutions.
Customers get timely transaction confirmations
If you buy or sell securities through a national bank or Federal savings association, the institution must give you a written notice or confirmation at or before completion of the transaction. If the institution relies on a broker/dealer confirmation, it must send you a copy within one business day after receiving it, and Federal savings associations must disclose the source and amount of any remuneration they will receive unless covered by a written agreement.
Supervision, disclosure, and employee reporting rules
National banks and Federal savings associations must adopt written policies and procedures assigning supervision of employees who trade securities, ensure fair allocation and crossing of orders, and require certain officers and employees to report personal securities transactions in which they have a beneficial interest. Institutions may seek a written waiver from the OCC for specified requirements.
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