On June 11, 2024, the OCC issued version 2.0 of the “Retail Nondeposit Investment Products'' booklet of the Comptroller’s Handbook. The booklet discusses risks and risk management practices associated with the recommendation or sale of non-deposit investment products to retail customers.

Revisions highlights include:

Incorporated significant regulatory changes adopted in the U.S. Securities and Exchange Commission’s Regulation Best Interest that may relate to banks' securities activities;
Reflected OCC and interagency issuances that have been published or rescinded since January 2015;
Provided further clarity regarding sound risk management practices and guidance to examiners; and
Included other minor updates for general clarity.

Read the OCC’s issuance here.

The revised booklet can be found here.

Adam Witmer

Adam Witmer is a speaker, author, and founder of the Compliance Cohort. Adam has taught hundreds of seminars and training sessions to thousands of bankers throughout the United States and teaches on all areas of regulatory compliance. Adam has written five e-books that he never published, hit a grizzly bear while driving in a National Park, and is an award winning photographer and musician (though he no longer takes photos nor plays any instruments). In his spare time, Adam can be found kayaking on the lake, doing taekwondo with his kids, working on his (project) house, or spending time with his family.

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