Agencies Propose Rules on Post-Employment Restrictions for Senior Examiners

GuidanceFederal Reserve Board (FRB)Risk Management

The federal banking regulatory agencies today issued proposed rules to implement a special post-employment restriction on certain senior examiners employed by an agency or Federal Reserve Bank, as required by the Intelligence Reform and Terrorism Prevention Act of 2004. Under the proposal, if an examiner serves as the senior examiner for a depository institution or depository institution holding company for two or more months during the examiners final twelve months of employment with an agency or Reserve Bank, the examiner may not knowingly accept compensation as an employee, officer, director, or consultant from that institution or holding company, or from certain related entities.

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