OCC Renews Securities Transaction Recordkeeping Rules Without Changes
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, with no new fees or big changes expected.
Analyzed Economic Effects
4 provisions identified: 1 benefits, 3 costs, 0 mixed.
Three‑Year Securities Recordkeeping
National banks and Federal savings associations must keep records of securities transactions for at least three years that clearly and accurately reflect the required information and provide an adequate basis for audit (see 12 CFR 12.3 and 12 CFR 151.50–151.60). These recordkeeping rules are part of the OCC's renewal of OMB Control No. 1557-0142.
Customer Transaction Notices and Disclosures
If you buy or sell securities through a national bank or Federal savings association, the institution must give you written notice at or before completion of the transaction or, if it uses a broker-dealer confirmation, send a copy within one business day of receipt (see 12 CFR 12.4; 12 CFR 151.70–151.90). Federal savings associations must also disclose the source and amount of any remuneration in connection with the transaction unless covered by a written agreement.
Supervision and Employee Reporting Rules
National banks and Federal savings associations must adopt written policies and procedures assigning supervision of employees who perform securities trading functions, provide for fair allocation and crossing of orders, and require certain officers and employees to report personal transactions in which they have a beneficial interest (see 12 CFR 12.7, 12.8; 12 CFR 151.140, 151.150).
Estimated Annual Burden to Respondents
The OCC estimates this information collection will affect 306 respondents and total 1,497 hours of burden annually, with responses occurring on occasion. The OCC has submitted the renewal to OMB under Control No. 1557-0142 and requests comments by June 1, 2026.
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