2019-28074: Employment Contracts, Mutual to Stock Conversions, Technical Amendments

Summary

The OCC seeks comment on a proposed rule that would implement changes recommended in the March 2017 Economic Growth and Regulatory Paperwork Reduction Act report, including the repeal of the OCC's employment contract rule for Federal savings associations, and amend the OCC's fiduciary rules. The proposed rule also would amend the OCC's rule for conversions from mutual to stock form of a savings association to reduce burden, increase flexibility, and update cross-references. Additionally, the proposed rule would update cross-references to repealed and integrated rules, remove unnecessary definitions, and make technical changes to other OCC rules.

The agency’s own summary, as published.

What this changes

Amends 15 parts of the Code of Federal Regulations — the standing rules this notice rewrites.

• 12 CFR 3 Capital Adequacy Standards
• 12 CFR 4 Organization and Functions, Availability and Release of Information, Contracting Outreach Program, Post-Employment Restrictions for Senior Examiners
• 12 CFR 11 Securities Exchange Act Disclosure Rules
• 12 CFR 16 Securities Offering Disclosure Rules
• 12 CFR 19 Rules of Practice and Procedure
• 12 CFR 23 Leasing
• 12 CFR 26 Management Official Interlocks
• 12 CFR 32 Lending Limits
• 12 CFR 108
• 12 CFR 112
• 12 CFR 141 Definitions for Regulations Affecting Federal Savings Associations
• 12 CFR 160 Lending and Investment
• 12 CFR 161 Definitions for Regulations Affecting All Savings Associations
• 12 CFR 163 Savings Associations—Operations
• 12 CFR 192 Conversions from Mutual to Stock Form