Subpart C—One-Year Restriction on Post-Employment Activities of

							                                                                     Federal Deposit Insurance Corporation                                                               § 336.11

                                                                     § 336.7 Employee responsibility, coun-                    itor and the FDIC as to resolution of
                                                                          seling and distribution of regula-                   outstanding indebtedness or otherwise
                                                                          tion.                                                resolves the matter to the satisfaction
                                                                        (a) Each employee is responsible for                   of the FDIC prior to the initiation of a
                                                                     being familiar with and complying                         termination action.
                                                                     with the provisions of this part.                           (2) As part of the agreement de-
                                                                        (b) The Ethics Counselor shall pro-                    scribed in paragraph (b)(1) of this sec-
                                                                     vide a copy of this part to each new                      tion, the employee shall provide au-
                                                                     employee within 30 days of initial ap-                    thority to the creditor to report any
                                                                     pointment.                                                violation by the employee of the terms
                                                                        (c) An employee who believes that he                   of the agreement directly to the FDIC
                                                                     or she may not be in compliance with                      Ethics Counselor.
                                                                     the minimum standards provided under
                                                                     § 336.5(a)(1) through (4), or who receives                § 336.9     Finality of determination.
                                                                     a demand letter from the FDIC for any                       Any determination made by the
                                                                     reason, shall make a written report of                    FDIC pursuant to this part shall be at
                                                                     all relevant facts to the Ethics Coun-                    the FDIC’s sole discretion and shall not
                                                                     selor within ten (10) business days after                 be subject to further review.
                                                                     the employee discovers the possible
                                                                     noncompliance, or after the receipt of
                                                                     a demand letter from the FDIC.
                                                                                                                               Subpart C—One-Year Restriction
                                                                        (d) The Ethics Counselor shall pro-                       on Post-Employment Activities
                                                                     vide guidance to employees regarding                         of Senior Examiners
                                                                     the appropriate statutes, regulations
                                                                     and corporate policies affecting em-                        SOURCE: 70 FR 69639, Nov. 17, 2005, unless
                                                                     ployee’s ethical responsibilities and                     otherwise noted.
                                                                     conduct under this part.                                    AUTHORITY: 12 U.S.C. 1819 and 1820(k).
                                                                        (e) The Ethics Counselor shall pro-
                                                                     vide the Personnel Services Branch                        § 336.10     Purpose and scope.
                                                                     with notice of an employee’s non-
                                                                     compliance.                                                 This subpart applies to officers or
                                                                                                                               employees of the FDIC who are subject
                                                                     § 336.8 Sanctions and remedial actions.                   to the post-employment restrictions
                                                                                                                               set forth in section 10(k) of the Federal
                                                                        (a) Any employee found not in com-
                                                                                                                               Deposit Insurance Act, 12 U.S.C.
                                                                     pliance with the minimum standards
                                                                                                                               1820(k), and implements those restric-
                                                                     except as provided in paragraph (b) of
                                                                                                                               tions as they apply to officers and em-
                                                                     this section below shall be terminated
                                                                                                                               ployees of the FDIC.
                                                                     and prohibited from providing further
                                                                     service for or on behalf of the FDIC in                   § 336.11     Definitions.
                                                                     any capacity. No other remedial action
                                                                     is authorized for sanctions for non-                        For purposes of this subpart:
                                                                     compliance.                                                 (a) Bank holding company has the
                                                                        (b) Any employee found not in com-                     meaning given to such term in section
                                                                     pliance with the minimum standards                        2 of the Bank Holding Company Act of
                                                                     under § 336.5(a)(3) based on financial ir-                1956 (12 U.S.C. 1841(a)).
                                                                     responsibility as defined in § 336.3(i)(1)                  (b) A consultant for an insured deposi-
                                                                     shall be terminated consistent with ap-                   tory institution or other company
                                                                     plicable procedures and prohibited                        shall include only individuals who
                                                                     from providing future services for or on                  work directly on matters for, or on be-
                                                                     behalf of the FDIC in any capacity, un-                   half of, such institution or other com-
                                                                     less the employee brings him or herself                   pany.
                                                                     into compliance with the minimum                            (c) Control has the meaning given to
                                                                     standards as provided in paragraphs (b)                   such term in section 336.3(b), and a for-
                                                                     (1) and (2) of this section.                              eign bank shall be deemed to control
                                                                        (1) Upon written notification by the                   any insured branch of the foreign bank.
                                                                     Corporation of financial irrespon-                          (d) Depository institution means any
                                                                     sibility, the employee will be allowed a                  bank or savings association, including
dwashington3 on PROD1PC60 with CFR




                                                                     reasonable period of time to establish                    a branch of a foreign bank, if such
                                                                     an agreement that satisfies the cred-                     branch is located in the United States.

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